Tehran, Iran - Smoke was observed in parts of Tehran, Iran, following reported preliminary strikes by Israel on Friday, June 13th. The incident has led to significant developments in the region's energy sector.
Iran has halted some gas production at the South Pars gas field, the world's largest. This action follows reports of a fire at the facility on Saturday, June 15th, as reported by Iran's Tasnim news agency. The South Pars field is shared with Qatar and is located offshore in Busheshr Province, southern Iran.
The Iranian Ministry of Oil stated that the fire occurred at one of the four units of Phase 14 of South Pars, leading to the shutdown of operations. This unit produces 12 million cubic meters of gas. Iran produces approximately 275 billion cubic meters (bcm) of gas annually, about 6.5% of global gas production. The attack may mark a major escalation in the conflict, which has driven oil prices up by 9% on Friday, June 15th.