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After the Strikes: What Next for Qatar, Iran and the World's Largest Gas Field?
5 minute read
The 2026 Middle East conflict has struck at the centre of the global gas system. Strikes on Qatar's North Field and Iran's South Pars have taken capacity offline across a resource base that holds 25% of the world's gas and supplies 10% of global production, creating cascading implications for LNG markets, buyer behaviour, and long-term energy security.
The scale of the disruption reflects the concentration of risk built into a single shared structure. North Field and South Pars together span around 9,000 square kilometres on the Qatar Arch. The damage has cascaded across the entire value chain, from upstream production through to LNG liquefaction and export infrastructure. Wood Mackenzie is publishing this analysis ahead of Gastech 2026 in Bangkok, where the industry is convening as those consequences continue to develop.
On the Qatari side, strikes on the Pearl GTL complex in March 2026 and an explosion at...