September 2026
After a relatively quiet August 2026, the conflict in Iran re-escalated sharply in September with a particular focus on maritime traffic through the Strait of Hormuz as opposed to strikes on energy infrastructure. The escalation and focus on shipping raises the risk around transiting the Strait of Hormuz. Compared to last winter, global LNG exports are forecast to decline by 6 MMt to 225.6 MMt from 231.5 MMt.
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