The world's largest known natural gas reserve in Iran came under Israeli attack.
According to NDTV, the attack is among a string of hits on the energy infrastructure in the region, which has crippled economies world over, crushed supply chains and sent oil, gas and commodity prices soaring.
The Iranian side of the South Pars field, the other side of it in Qatar, came under attack Wednesday and was burning. It is the largest known gas reserve in the world and is located offshore in Iran's Bushehr Province.
It supplies around 70 percent of Iran's domestic natural gas. The field also supplies roughly 20 per cent of the world liquefied natural gas (LNG) demand.
The attack on South Pars field involved Phases 3, 4, 5 and 6, Iranian state television reported. They blamed Israel and the United States for the attack. It said it had shut down those phases of the field to stop the spreading fire.
Per studies cited by the International Energy Agency, the field holds around 1,800 trillion cubic feet of gas, representing roughly eight per cent of the world's proven gas reserves.
