Iran war damaged as much as $58 billion of energy infrastructure: Rystad
The Iran war has damaged $58 billion worth of energy infrastructure, according to an estimate released Wednesday by consulting firm Rystad Energy.
Iran has attacked the oil and gas infrastructure of its Gulf Arab neighbors, including production facilities, refineries, and pipelines, among other targets. Israel bombed natural gas and petrochemical facilities in Iran.
Fatih Birol, Director General of the International Energy Agency, said that more than 80 energy facilities have been attacked since February 28, when the USA and Israel declared war on Iran. More than a third of them were severely damaged, Birol said.
“This is one of the most critical problems and is different from the past; most of the facilities were heavily damaged,” the IEA chief said on Monday. he said. Atlantic Council Incident in Washington D.C. It could take up to two years to repair facilities and return oil and gas production to pre-war levels, he said.
Rystad estimates the repair bill for any damage would be at least $34 billion. The company said the extent of damage at some facilities was still unclear. The final bill will depend on whether the damage to these assets is more limited or structural.
At the same time, the amount of equipment required for repair work will strain global energy supply chains, said Karan Satwani, Rystad’s senior analyst for supply chain research.
Rystad estimates that Iran’s infrastructure has taken the biggest hit, and repair costs could potentially reach $19 billion. Qatar also faced high costs after Iran hit its key liquefied natural gas (LNG) facility.
Attacks on energy facilities increased after Israel bombed Iran’s South Pars natural gas complex on March 18. Iran retaliated by attacking the world’s largest LNG facility in Qatar, damaging two production lines responsible for 17% of the tiny Gulf state’s gas exports.
Damage to Qatar’s LNG facility will cause $20 billion in lost revenue and take up to five years for state-owned repairs QatarEnergy He said the following in his statement on March 19:
Iran has also attacked pipelines, refineries and production facilities in Saudi Arabia, Kuwait and the United Arab Emirates.
