Kateryna Filippenko, Research Director, Gas and LNG Research at Wood Mackenzie, considers three outcomes for LNG, the interplay between supply and demand, and explains why the world before the conflict is not coming back
Before the war in the Middle East, around 20% of the world’s LNG moved through the Strait of Hormuz every single day. Most of the time, nobody thought about it, but with a fifth of global LNG supply being knocked off the market, that has changed.
The near-complete closure of the strait didn’t just tighten energy markets. It also forced governments and industries to confront a dependency that was quietly baked into the architecture of the global economy.
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