South Pars, Ras Laffan: World's largest gas reserve in crosshairs of US-Iran war, what it means for India

Ras Laffan is Qatar's core LNG processing hub and a critical part of the global gas supply. It was set up in 1996 to hast petrochemical facilities for the natural gas obtained from the North Field.

Iran relies on South Pars for around 80% of its natural gas, powering electricity, heating, and industry. With an ageing energy grid and past shortages during heat waves, damage to the field could intensify domestic energy crises.

The gas field under the Gulf is the world's largest and is shared by Iran and Qatar. It is called South Pars on the Iranian side and North Field or North Dome on the Qatari side. Iran relies on the field to meet its domestic energy requirements, while Qatar uses it for global LNG exports.

Israeli strikes on Iran's South Pars gas field damaged key infrastructure, prompting counterstrikes from Iran on Gulf energy hubs, including Qatar's as Laffan LNG complex, which is on the other end of the same gas field

It's infrastructure and supporting facilities ensure the potential of Qatar's natural resources is maximised through successful exploration, storage and export.

Global energy shock Although South Pars primarily supplies Iran's domestic market, the attacks sent shockwaves through global energy markets. Oil prices surged, and European gas jumped about 7%, reflecting fears of retaliation against Gulf energy infrastructure.

Iran strikes on Ras Laffan caused extensive damage, temporarily shutting down operations. Qatar's LNG exports account for roughly a fifth of the world's global supply, and analysts warn that any sustained disruption could raise global gas prices. Two facilities that produce 17% of the country's LNG exports, or about 13 millions tonnes a year, were affected and it will take three to five years to repair them, QatarEnergy CEO Saad al-Kaabi said.

What it means for India Qatar is the largest LNG and LPG supplier to India and any disruption at Ras Laffan will likely impact the energy supply chain. India sources about 47% of its total natural gas imports from the country.

It also imports ethylene, propylene, ammonia, urea, and polyethylene from Qatar. On Thursday, India called for an end to attacks on energy infrastructure across West Asia, with MEA saying such strikes will impact LNG supplies to the country, even as PM Modi reached out to other world leaders to discuss efforts to restore peace.