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Gas prices: LNG imports make Europe more vulnerable to price shocks than in 2022

The shift toward LNG imports has made Europe more vulnerable to gas price spikes. A blockade of the Strait of Hormuz could lead to significant price increases in the future.

David Goeßmann
21. May 2026
Schiff in der Straße von Hormus, 8. April 2026
Ship in the Strait of Hormuz, April 8, 2026. The blockade of the strait has caused LNG prices to rise. (picture alliance / Anadolu | Shady Alassar)

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Last updated: 21. May 2026

LNG
Gas
Strait of Hormuz
Energy transition