World Business Report How important is the South Pars field to global gas supply?
Mar 18, 2026
Will Grant, BBC correspondent in Havana, reports on Cuba's fuel shortages and social fallout. Brooks Barnes, Hollywood reporter for The New York Times, breaks down Disney's leadership shakeup and strategic challenges. Peter Campbell, Financial Times transport correspondent, explains airline fuel hedging and ticket-price impacts. Dr. Siamak Shojai, energy academic, and Susan Schmidt, commodities portfolio manager, discuss South Pars, regional disruptions and market reactions.
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Shared Gas Basin Poses Global Supply Risk
- South Pars and Ras Laffan form a single shared gas basin split between Iran and Qatar, making attacks on either side a global supply risk.
- Siamak Shojai explains Iran's South Pars fuels ~70% of its electricity while Qatar's Ras Laffan exports ~81 million tonnes of LNG, the country's main foreign-exchange source.
Investors Fear Facility Damage More Than Transit Risk
- Markets reacted immediately with big oil price jumps because attacks threaten both transit (Strait of Hormuz) and production facilities.
- Susan Schmidt highlights the difference between short-term shipping risks and longer-lasting damage to production infrastructure.
Ras Laffan Damage Threatens Qatar Economy
- Damage to Ras Laffan would severely hit Qatar's economy because LNG exports are its primary foreign-exchange revenue.
- Siamak Shojai warns Qatar could survive short-term on reserves but prolonged attacks would devastate its industrial base.