Dansk Helle Østergaard Kristiansen, CEO of the gas and power business at Equinor, estimates that the energy crisis following the conflict in the Middle East could be both deeper and longer-lasting than the market expects. The background to her assessment is, among other things, Iran's continued blockade of the Strait of Hormuz, where around 20 percent of the world's oil and LNG normally passes, as well as damage to gas infrastructure in Qatar, which could reduce global LNG supply by more than 3 percent for up to five years. This is reported by Børsen.
- I think the market is underestimating how long it will take to return to a more normal situation, says Helle Østergaard Kristiansen, CEO of the gas and electricity business at Equinor.
She points out that Asia is already experiencing a shortage of energy, while Europe is particularly feeling the crisis through higher prices, lower gas stocks and rising inflationary pressures. According to Helle Østergaard Kristiansen, the situation shows Europe's dependence on imported energy and the need for both increased self-sufficiency and gas as a backup in the long-term green transition.
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