Canberra: The ongoing conflict and escalating tensions in the Middle East have dealt a significant blow to the global energy system, with at least 40 major energy facilities either completely or partially destroyed.
This was revealed by Fatih Birol, head of the International Energy Agency, during a speech in Canberra, raising serious concerns about the future stability of global energy supplies.
According to the International Energy Agency, the damage is not confined to one or two countries but spans at least nine nations across the Middle East.
The affected infrastructure includes oil refineries, gas processing facilities, pipelines, and power generation plants, all of which play a critical role in maintaining both regional and global energy supply chains.
Experts warn that the attacks on these energy assets have significantly disrupted the flow of oil and gas, creating volatility in international markets.
The Gulf region, a key hub of global energy production and exports, has emerged as the epicenter of this growing crisis.
The International Energy Agency has cautioned that if the situation continues to deteriorate, the world could face a new energy crisis, potentially more severe than the oil shocks of the 1970s.
Such a crisis would not only drive up fuel prices but also impact global economic growth, industrial output, and trade activities.
Analysts believe that the targeting of energy infrastructure reflects a new dimension of economic warfare, aimed at weakening adversaries by disrupting their economic lifelines.
In this context, the protection of energy assets has become not just an economic necessity but also a strategic and security priority.
Meanwhile, several countries have accelerated efforts to find alternative energy sources, with a growing shift toward renewable energy in an attempt to reduce dependence on vulnerable fossil fuel infrastructure.
The situation highlights the far-reaching consequences of the Middle East conflict, underlining that without immediate diplomatic intervention, the world could be heading toward a prolonged period of energy and economic instability.