The world is on the verge of a large-scale energy crisis due to the suspension of liquefied natural gas supplies (LNG) from the Persian Gulf. Over the next 10 days, most tankers from the region will complete the delivery of the last batches.
LNG supplies from the Persian Gulf stop
According to Financial Times, According to the report, within 10 days, liquefied natural gas supplies from the Persian Gulf will almost completely stop. The last tankers are already on their way to their destinations.
Asia, which buys about 90% of gas from the region, will receive only one LNG shipment in the near future. Six more shipments are expected to arrive in Europe.
The threat of shortages and rising prices
Countries whose economies depend on gas imports are on the verge of an energy catastrophe. States will have to:
- pay record high prices for LNG from the US and other sources,
- switch to alternative fuels,
- to force households and businesses to reduce gas consumption.
Competition for affordable gas on the global market is expected to increase dramatically.
Context.
The Persian Gulf is one of the key regions for LNG supplies in the world. The cessation of exports from this region could cause disruptions to industry and affect energy prices in many countries.
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