HOUSTON, United States – TotalEnergies CEO Patrick Pouyanne issued a stark warning Monday regarding potential liquefied natural gas (LNG) market disruptions, predicting “very high” prices by summer if Iran’s closure of the Strait of Hormuz persists amid ongoing regional conflicts.
Speaking at the prestigious CERAWeek energy conference in Houston, the French energy executive emphasized the critical timing of European gas storage replenishment cycles. “If the Strait of Hormuz is not open again, I can predict a very high price for LNG by summer and September, when we are refilling the gas storage in Europe,” Pouyanne stated before industry leaders and energy experts.
The CEO elaborated on the broader economic implications beyond energy markets, noting that prolonged closure would create ripple effects across global supply chains. This strategic maritime passage, responsible for approximately 21 million barrels of oil daily transit, serves as a vital artery for global energy transportation. The warning comes as European nations continue navigating energy security challenges while managing transition to renewable sources.
Industry analysts at the conference expressed concern that Pouyanne’s prediction reflects growing anxiety among energy majors about geopolitical instability affecting commodity markets. The statement marks one of the most specific price warnings from a major energy leader since regional tensions escalated, potentially signaling preparation for market volatility among industry participants.