Iran crisis and Qatari LNG halt drive up EU power prices
Statkraft warns the Iran crisis and Qatari LNG halt will raise European power prices. Higher costs risk weakening industrial competitiveness across the region.
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The ongoing geopolitical crisis involving Iran has significantly disrupted global energy markets, leading to a halt in shipments and a cessation of liquefied natural gas (LNG) production in Qatar. This disruption, which includes the paralysis of shipping through the Strait of Hormuz following military actions involving the United States and Israel, is expected to drive European electricity costs higher while undermining the region's industrial competitiveness.
