The Iran war has exposed the world’s maritime chokepoint
The war with Iran is exposing a vulnerability at the heart of the global gas market: the extraordinary concentration of liquefied natural gas supply in the Persian Gulf. Qatar alone accounts for roughly a fifth of global LNG exports, almost all of it passing through the narrow Strait of Hormuz. The conflict has illustrated how easily a single maritime chokepoint could interrupt a significant share of the world’s gas trade. Even if the war ends soon, the vulnerability it has exposed will not disappear US president Donald Trump has suggested the conflict may soon end, describing the campaign as largely achieved and possibly over “very soon.” The Gulf monarchies also appear eager for a
