$58 Billion Damage: Middle East Energy Infrastructure Hit by Conflict
Rystad Energy estimates that the conflict in the Middle East has caused damage to energy infrastructure valued at up to $58 billion. The conflict has seen over 80 energy facilities attacked since February 28, with many sustaining severe damage, according to the International Energy Agency (IEA). The damage has significantly stressed global energy supply chains, with the IEA warning that full restoration could take years. Key incidents include Israel bombing Iran's South Pars complex, followed by Iran's retaliatory strike against Qatar's major LNG facility. Qatar reported that the damage will lead to $20 billion in lost revenue and require five years to fix, while Iran's repair costs are estimated at $19 billion. The instability has also impacted critical facilities across Saudi Arabia, Kuwait, and the UAE.
