Iranian gas exports to Iraq were reportedly suspended on Wednesday following an attack on Iran’s Pars gas field, disrupting a key regional energy supply.
Tehran typically provides between one-third and 40% of Iraq’s gas and electricity needs, making the interruption significant for the country’s power system.
A senior Iraqi official told Reuters that Iran had diverted gas supplies for domestic use in the aftermath of the attack.
The strike was widely reported in Israeli media to have been carried out by Israel with the consent of the United States, further intensifying tensions in the region.
Gas prices surge after Iran issues evacuation warning
Gas prices surged after Iran issued fresh threats against energy infrastructure across the Gulf, escalating tensions in the region.
Europe’s benchmark contract jumped by as much as 8.2% after Tehran warned of potential strikes on oil facilities in Saudi Arabia, the UAE and Qatar.
The move followed reports that key Iranian energy sites in South Pars and Asaluyeh had come under attack on Wednesday, according to the semi-official Tasnim news agency.
In response, Iran’s Revolutionary Guards issued evacuation warnings for energy facilities, marking a further escalation in a conflict that has been intensifying since late February.
The Dutch TTF benchmark, Europe’s main gas price indicator, was last up 6.5% at €55 per megawatt hour, compared with around €30 before the conflict began, underlining the sharp rise in energy market volatility.
