Why Should We Care About the Iran War Energy Shock? | with Paul Everingham

The war in Iran has sent shockwaves through global energy markets - and no region feels it more acutely than the Indo-Pacific. In this episode, co-hosts Ray Powell and Nydia Ngiow sit down with Paul Everingham, CEO of the Asia Natural Gas & Energy Association (ANGEA), who joins after spending two days at the Indo-Pacific Energy Security Ministerial in Tokyo.​With the Persian Gulf’s Strait of Hormuz effectively closed, roughly 20% of the world’s oil supply and a significant share of global liquid natural gas (LNG) exports are blocked. Paul explains that 70% of Asia’s oil originates in the Middle East, meaning every country in the region is exposed. On the natural gas side, South Asian nations - India, Pakistan, and Bangladesh - face the sharpest pain, as they depend heavily on Qatari LNG, while North Asian buyers like Japan and Korea are somewhat shielded by receiving Australian and US supply.The conversation covers Qatar’s shutdown of its LNG processing facilities and why a full restart could take six months if hydrocarbons are stripped from the plants. Paul unpacks the potential role of Russian oil and gas if sanctions are eased, the limits of pipeline alternatives from Saudi Arabia, and why coal use - already at record highs - is likely to climb further in 2026 as countries seek cheaper and more abundant alternatives.​On nuclear energy, Paul is clear: it should be part of every country’s portfolio, but with a 10–20 year development timeline, it is a medium-term solution, not an immediate fix. His core advice to Indo-Pacific policymakers: diversify energy sources and lock in long-term contracts to hedge against price shocks.​The episode closes with a sobering warning: if the disruption drags on, the world faces potential rationing, surging inflation and a severe global recession.👉 Follow Paul Everingham at ANGEA and Nydia Ngiow at BowerGroupAsia.👉 Follow us on X, @IndoPacPodcast, LinkedIn, or Facebook👉 Follow Ray Powell on X, @GordianKnotRay, or LinkedIn, or check out his maritime transparency work at SeaLight👉 Follow Jim Carouso on LinkedIn👉 Sponsored by BowerGroupAsia, a strategic advisory firm that specializes in the Indo-Pacific