The world’s largest gas field is at the nexus of a political stalemate between Qatar and three of its immediate Arab neighbors in the Persian Gulf region—Saudi Arabia, Bahrain and the UAE, along with Saudi ally Egypt. Qatar’s huge offshore gas and condensate field, known in that country as North Field, straddles its maritime border with Iran, which calls the field South Pars. Together, the two sides of the field contain as much as 1.4 Tcf of proven gas reserves, making it the world’s largest conventional non-associated gas field. Iran, Saudi Arabia’s regional arch-enemy, is very much a factor in the dispute between Qatar and the four Arab states that have recently started calling themselves the Anti-Terror Quartet. The so-called ATQ has accused both Qatar and Iran of funding terrorist groups and vociferously disapprove of Qatar’s friendly relations with Iran. But because of North Field’s shared status, Doha is obliged to engage with Tehran. Moreover, because of North Field’s importance to global energy supplies neither Riyadh nor Abu Dhabi can realistically tell major international partners to choose between doing business with them or Qatar, quashing all hope of squeezing Qatar financially and economically. On the basis of North Field reserves,
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Source: CTRM Center