On March 18, Israeli strikes targeted facilities linked to South Pars and the onshore hub at Asaluyeh in Bushehr Province.
Qatar, which shares the reservoir, directly blamed Israel, while the United Arab Emirates branded the attack a "dangerous escalation" threatening global energy security.
Tehran responded with a swift call for the evacuation of energy infrastructure across the Persian Gulf, including in Qatar, Saudi Arabia and the United Arab Emirates.
South Pars is not simply another hydrocarbon asset. Together with Qatar’s North Dome, it forms the world’s largest natural gas field, holding an estimated 1,800 trillion cubic feet of gas and 50 billion barrels of condensate.
Iran’s share accounts for roughly 36 percent of its proven gas reserves and about 5.6 percent of global reserves, placing a central pillar of its economy at risk.
Asaluyeh serves as the operational core of this system, concentrating upstream, midstream and downstream infrastructure in a single coastal zone. Offshore production feeds into refineries, petrochemical complexes and export terminals that underpin Iran’s electricity generation, industrial base and energy exports.
This concentration creates both efficiency and vulnerability. A strike on Asaluyeh does not merely disrupt production; it threatens the entire value chain.
Positioned along the Persian Gulf and connected to export routes through the Strait of Hormuz, Asaluyeh sits at the intersection of production and transit. Any sustained disruption could compound supply shocks across global markets.
Israel has moved beyond military and nuclear assets to strike the economic core of Iran’s power, signaling a shift toward economic attrition in which energy systems become primary targets.
Iran’s response suggests escalation will not remain contained. Outlets linked to the Islamic Revolutionary Guard Corps have published lists of potential targets: Ras Laffan and Mesaieed in Qatar, the SAMREF refinery and Jubail petrochemical complex in Saudi Arabia, and the Al Hosn gas field in the United Arab Emirates.
The fallout is already visible. Iraq has reported a halt in Iranian gas supplies following the strike on South Pars, while Ras Laffan installations in Qatar are being evacuated.
The shared nature of the reservoir raises additional risks. Qatar’s North Dome underpins a significant share of global LNG supply to Europe and Asia. Instability on the Iranian side introduces concerns over reservoir management, operational safety and spillover effects.
Qatar’s swift condemnation reflects a clear calculation: escalation around the world’s largest gas field threatens global markets as much as regional stability.
The risks extend beyond the Gulf. Israel’s offshore gas fields—Leviathan, Tamar and Karish—are critical to domestic supply and regional exports and remain exposed to potential retaliation. Expanding the conflict to the Eastern Mediterranean would transform a regional confrontation into a multi-basin energy crisis.
The strike also exposes a strategic asymmetry. Israel has limited comparable domestic energy infrastructure vulnerable to direct retaliation, while Iran operates within a region where energy assets are densely clustered.
Tehran cannot easily mirror the strike, but it can impose costs across a wider regional system by targeting Gulf producers, shipping lanes or offshore infrastructure.
The choice of South Pars and Asaluyeh therefore reflects more than tactical targeting. It marks a deliberate shift toward pressure on economic systems and systemic vulnerability.
The immediate damage may prove limited. The strategic consequences are not. Once energy infrastructure becomes a battlefield, escalation thresholds shift, retaliation broadens, and interconnected energy systems become more fragile.
South Pars is not just a gas field; it anchors Iran’s economy and links directly to global energy markets. By placing it in the crosshairs, the conflict has entered a phase in which local strikes carry global consequences.
