Hormuz Warnings and Coal Phase-Out Put Pressure on the Energy Mix: How the Natural Gas Market Responds to the Specter of the 1973 Crisis — NRG-IA

Context: A Global Market Under the Specter of the 1973 Embargo The global energy market is navigating a period of extreme volatility, marked by major geopolitical tensions that directly threaten supply routes. According to recent warnings issued by the CEOs of some of the world's largest oil and gas companies, the war with Iran and the blockade of the Strait of Hormuz could have severe consequences for global supply. This situation has prompted industry leaders to compare the current crisis to the 1973 Arab embargo, highlighting the risk of a systemic shock to the world economy. Although immediate public attention has turned to the fuel market, the natural gas market—particularly the liquefied natural gas (LNG) segment that transits vulnerable maritime routes—is equally exposed. Any disruption in the Middle East reduces the global LNG supply, forcing European countries to compete more aggressively in an already tight market, which inevitably translates into upward pressure on…