Photo by the media. QatarEnergy reported the suspension of liquefied natural gas production due to attacks on its facilities
In light of the attacks by Israel and the U.S., as well as Iran's retaliatory actions, many energy facilities across the Middle East have temporarily suspended operations. This is done to protect infrastructure from potential damage.
QatarEnergy, the world's largest LNG producer, halted production in the industrial zones of Ras Laffan and Mesaieed, where the attacks affected operational capacities. Qatar accounts for nearly 20% of the world's liquefied gas production.
Additionally, the entire oil sector in Iraqi Kurdistan has been virtually suspended, and operations at major gas fields in Israel have also been halted, negatively impacting fuel exports to Egypt.
Oil prices have risen by 13%, surpassing $82 per barrel, due to a sharp reduction in shipping through the Strait of Hormuz, through which a significant portion of global hydrocarbon supplies passes.
After the missile strike, Saudi Aramco also decided to close the Ras Tanura refinery, which has a capacity of 550,000 barrels per day. This is an important export infrastructure facility on the coast of the Persian Gulf.
Companies DNO, Gulf Keystone Petroleum, Dana Gas, and HKN Energy in Kurdistan have temporarily suspended production; however, no damage to facilities has been reported.
The escalation of the conflict began on February 28, when Israel and the U.S. struck Iranian cities and military facilities, to which Tehran responded with attacks on Israeli and American bases in several countries in the region. As a result of the initial strikes, high-ranking Iranian officials and military personnel were killed. U.S. President Donald Trump confirmed the start of a military operation called "Epic Fury."
The Supreme Leader of Iran, Ayatollah Ali Khamenei, was killed, along with about ten high-profile officials from Tehran.
Tensions in the Middle East remain high as of now.
