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Iran: Gas price rally threatens storage refilling

Iran’s blockade of the Strait of Hormuz has cut off about one-fifth of global liquefied natural gas (LNG) supply. Experts warn the resulting price spikes could jeopardize efforts to refill European gas storage ahead of next winter.

Manuel Berkel
03. March 2026
FILE - This April 4, 2009, file photo, shows a gas production facility at Ras Laffan, Qatar. The tiny, energy-rich Arab nation of Qatar announced on Monday, Dec. 3, 2018 it would withdraw from OPEC, mixing its aspirations to increase production outside of the cartel's constraints with the politics of slighting the Saudi-dominated group amid the kingdom's boycott of Doha. (AP Photos/Maneesh Bakshi, File)
This 2009 photo shows gas facilities in Ras Laffan, Qatar. (picture alliance/AP Photo | Maneesh Bakshi)

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Last updated: 03. March 2026

Natural gas Crude oil Iran Energy policy Energy prices Security of supply gas storage facility