Middle East escalation and the scramble for LNG, with Sindre Knutsson

Let’s Talk Energy and discuss the impacts of the conflict in the Middle East on gas and LNG markets. At the time of recording (Tuesday, 10 March), about 20% of global LNG supply is cut off from the market due to the conflict and the effective closure of the Strait of Hormuz. Attacks by Iran on vessels transiting the Strait and the reaction of insurance companies to cancel coverage for ships carrying oil and gas through that area have cut off some 77 million tonnes per annum of LNG capacity in Qatar and another roughly 10 mtpa from the UAE. Most of that gas was destined for countries in Asia but the supply shortage has spooked markets globally as countries scramble to secure the supplies they need to keep the lights on and their economies running.  How has the market reacted and how does it compare to the shock from Russia’s invasion of Ukraine in 2022? How could the market normalize and how long could that take? What are some of the longer-term impacts on how people think about the energy security of their gas supplies?  Related Analysis Special report - Middle East conflict implications (accessible to non-clients) On demand webinar| Middle East conflict: Oil and gas market implications (accessible to non-clients) Middle East escalation disrupts global gas supply – yet this is not 2022 (accessible to non-clients) Iran conflict delivers biggest energy shock since Ukraine (clients only) Majors’ LNG growth aspirations hang in the balance as Hormuz crisis deepens (clients only) On demand | APAC Regional Webinar | Middle East conflict: Can regional LNG stabilize Asia during a Gulf supply shock? (clients only) Loose US gas market expected to remain shielded from global turmoil (clients only) Middle East escalation disrupts global gas supply – yet this is not 2022 (clients only) Gas spike after Middle East strikes lifts European power prices (clients only)  Related Episodes How will Middle East conflict impact energy and the economy? Cheap no more: How rising demand is reshaping US natural gas, with Artem Abramov and Jai Singh Is China’s falling LNG demand a warning sign for global markets? With Wei Xiong Let’s Talk Energy is a Rystad Energy Production.   Produced by: Laura Rodriguez Skaug &  Både Og.   Executive producers: Noah Brenner, Elliot Busby, Evodie Fleury-Greaker & Erik Means.   Follow us on:  LinkedIn   YouTube   Instagram   X