US Attack on Iran's South Pars Gas Field: Will PNG Supplies Face Shortages?
Loading more articles...
US Attack on Iran's South Pars Gas Field: Global Energy Crisis Looms?
N
News18•18-03-2026, 19:01
US Attack on Iran's South Pars Gas Field: Global Energy Crisis Looms?
•Iran claims US attacked its South Pars LNG gas field, the world's largest natural gas reserve.
•South Pars holds 8-10% of global known gas reserves and 50 billion barrels of condensate.
•Damage to South Pars could cripple Iran's domestic gas supply, causing power outages and industrial shutdowns.
•India, heavily reliant on Qatar for LNG, faces indirect threats: price surges, LPG shortages, and rupee weakening due to higher import bills.
•A prolonged conflict and Strait of Hormuz closure would impact global LNG supply, leading to a bidding war and increased manufacturing costs worldwide.
