As tensions rise in Iran, the global energy system is being tested like never before. Critical chokepoints such as the Strait of Hormuz, along with concentrated LNG infrastructure in hubs like Ras Laffan, highlight the inherent rigidity and vulnerability of oil and gas markets. Andrea Heng and Hairianto Diman explore what “market adjustment” looks like when long-term contracts offer little flexibility, and why Europe could once again face a challenging scramble for energy supplies. Their analysis includes insights from Pang Lu Ming, Vice President of Gas & LNG Research at Rystad Energy.

Disclaimer: This podcast is taken from CNA.