Hormuz Supply Crisis to Change LNG Market Forever
The Strait of Hormuz crisis has turned roughly 20% of global LNG supply into something buyers now have to treat as interruptible. Nearly seven months after traffic through the strait collapsed, LNG exports from Qatar and the UAE remain severely constrained. Buyers in Europe and Asia are responding b
Source: OilPrice.com
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DW NOTE
The Strait has been closed for 208 days. Twenty percent of global LNG once passed through Hormuz — it now routes around Africa or doesn't move at all. Buyers have signed fifteen-year contracts with US exporters at triple the pre-blockade price rather than wait for a strait that may never reopen on commercial terms.