\n Iran has recently hardened its rhetoric around the Strait of Hormuz after announcing tighter oversight measures through its newly created Persian Gulf Strait Authority<\/a>, signalling greater control over maritime transit in the region. \n <\/p>\n
\n The Strait of Hormuz remains one of the world\u2019s busiest oil and LNG shipping routes, carrying nearly a fifth of global seaborne oil and large volumes of liquefied natural gas exports from Gulf producers including Qatar, Saudi Arabia and the United Arab Emirates.
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\n Europe\u2019s gas reserves fall to critical levels
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\n Europe entered the current summer refill season with heavily depleted gas reserves after a prolonged winter, according to an OilPrice report.
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\n Equinor executives said European gas storage facilities were only 28% full at the end of winter and have since recovered to around 35\u201337%, still significantly below the seasonal norm of about 50%.
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\n Storage levels in major economies fell sharply before spring. Dutch reserves plunged to 5.8%, the lowest level in a decade, while Germany\u2019s storage levels fell to around 20% and France\u2019s hovered near 27%.
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\n The European Union typically targets storage levels between 80% and 90% before winter to avoid supply shocks during peak heating periods.
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\n However, disruptions in LNG markets, combined with geopolitical instability in the Middle East and Europe\u2019s gradual phase-out of Russian LNG, have intensified global competition for cargoes, especially against strong Asian demand.
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\n Equinor warned that if the Strait of Hormuz disruption lasts one to three months, Europe could face a highly critical situation, potentially driving benchmark Dutch TTF gas prices toward \u20ac90 per megawatt-hour.
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\n Higher prices are expected to trigger industrial fuel switching, reduced gas-to-power demand and stronger competition for African energy exports as Europe and Asia scramble for alternative supplies.
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\n Africa positioned as alternative energy supplier
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\n As Europe searches for alternatives to Middle Eastern and Russian energy supplies, African producers such as Nigeria, Angola and Algeria are becoming increasingly important to global energy markets.
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\n All three countries remain among Africa\u2019s largest oil and gas producers, supplying crude oil, LNG and refined petroleum products to Europe and Asia through major export and refining infrastructure.
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\n Algeria strengthens grip on European energy market
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\n Algeria has become one of Europe\u2019s most important gas suppliers since the European Union moved to cut dependence on Russian energy following the war in Ukraine.
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\n Countries including Italy, Spain and France have expanded energy partnerships with Algeria through pipeline gas imports and LNG purchases.
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