SAEDNEWS: A military confrontation in the Persian Gulf will not only impact the global oil markets but will also have a shock effect on the supply of natural gas to Europe, a senior energy expert says.
According to SAEDNEWS, A leading energy analyst has warned that any military confrontation in the Persian Gulf could deeply affect the global oil markets and significantly shake up the supply of natural gas to Europe.
Ali Asghar Zargar explained that the Strait of Hormuz has become a key route for liquefied natural gas (LNG) supplies, especially due to Qatar’s rising production and exports in recent years. He shared these insights with the ILNA news agency.
Zargar emphasized that if the Strait were to be blocked because of tensions between Iran and Israel, it could severely impact gas supplies to Europe during the crucial winter months when demand rises.
His comments come in the context of rising tensions, with speculation about a possible Israeli response to recent missile attacks from Iran. Such actions could lead to further retaliation from Iran or attacks on countries seen as supporting Israeli aggression against Iran and its allies.
A major confrontation in the Strait of Hormuz could have dire consequences, as about 40% of the world’s seaborne oil exports, which equals roughly 18% of total global oil supply, pass through this vital waterway.
Zargar noted the importance of Qatar, which is currently the world’s largest exporter of LNG, providing one-fifth of the global supply. “Any disruption to the supply of LNG from this region, especially during the winter when demand for gas increases, could cause significant shocks in the global energy markets,” he said.
However, Zargar also pointed out that Qatar, along with other major energy producers in the region like Saudi Arabia and the United Arab Emirates, is likely to exert pressure on the United States—Israel’s main ally—to avoid any confrontation in the Persian Gulf.
