IEA warns war on Iran could trigger global LNG price surge

IEA warns war on Iran could trigger global LNG price surge The International Energy Agency said the Israeli-US war on Iran has halted the country’s gas exports, largely to Asian markets, raising concerns about global energy supplies, the Associated Press reported. IEA Executive Director Fatih Birol warned that if the disruption continues, Europe and Asia may end up competing for increasingly scarce liquefied natural gas shipments. “If the crisis continues this way, the Asian buyers and the European buyers will need to compete for the LNG which will get scarcer and scarcer,” Birol said after meeting European Commission President Ursula von der Leyen.