The Strait of Hormuz Blockade as a Structural Accelerator
On April 22, 2026, the Strait of Hormuz was closed to commercial traffic, disrupting the transit of over 11 million barrels per day of oil and condensate from the Persian Gulf. According to real-time monitoring by the Hormuz Strait Monitor, the number of ships in transit fell to near-zero levels, with more than 150 ships, including tankers and cargo vessels, stranded awaiting release. This disruption led to a 20% contraction in global liquefied natural gas (LNG) capacity, with direct consequences for supply routes in Asia and Europe. This data is confirmed by Wood Mackenzie, which reports a risk of an unprecedented global energy shock in recent decades, with the possibility of crude oil prices reaching $200 per barrel in the event of a prolonged crisis.
The operational mechanism is triggered when a critical logistical node is interrupted: the oil and LNG route through the Strait of Hormuz is the main export channel for producers in the Gulf, and its blockade cannot be compensated by immediate alternatives. Alternative routes, such as those via land or through the Suez Canal, do not have the necessary transport capacity to handle similar volumes. Consequently, energy markets reorganize in real-time, shifting the center of gravity of supplies towards sources with flexible export capacity and already operational liquefaction infrastructure. This event is not an isolated incident, but an accelerator for a paradigm shift in the global energy system.
The US LNG export chain: infrastructure and timelines
The response to the crisis has been the immediate expansion of LNG export capacity from the United States. The Golden Pass project, in Texas, began exports in March 2026, marking a turning point for the presence of American gas in the Asian market. The project, financed by QatarEnergy, has a production capacity of 9.5 million tons per year and operates with a low-temperature liquefaction system, capable of cooling the gas to -162°C to transform it into liquid form. The process requires an energy consumption of approximately 100 kWh per ton of liquefied gas, with an operational response time of 12 hours between the arrival of the gas and the departure of the cargo.
At the same time, Mubadala Energy announced the progress of the Louisiana project, a $13 billion investment that involves the construction of three liquefaction units, with a total capacity of 9.5 million tons/year. The logistics chain is complex: the gas arrives from the fields of Texas and Louisiana through a network of pipelines of approximately 2,000 km, then it is compressed, cooled and stored in double-walled steel tanks. The loading logistics takes place in terminals equipped with a loading ramp and active cooling systems to prevent vaporization during the transfer. The average duration of a journey from Texas to Asia is 22 days, with an operational latency that implies careful planning of routes and weather conditions.
Who Pays for the Cost of the Energy Transition?
The cost of the energy transition has been primarily borne by final consumers in Asia and Europe, where LNG prices have increased by 87% compared to 2024, according to estimates from Implementa Research. The most vulnerable countries have been Japan, South Korea, and India, which depend on over 70% of their LNG imports from the Persian Gulf. This has resulted in increased production costs for energy companies, with electricity prices in Japan rising by 32% in the first three months of 2026. European energy companies have had to resort to expensive forward contracts to ensure service continuity, with a direct impact on their balance sheets.
Conversely, the beneficiaries of this change have been American energy sector operators. U.S. LNG exports increased by 45% in April 2026, with a transaction value of $2.1 billion. Companies such as Cheniere Energy and Sempra Energy saw a 60% increase in market value, while export ports such as Sabine Pass and Corpus Christi saw a 70% increase in ship traffic. The change has also created new opportunities for suppliers of liquefaction technologies, with a 40% increase in requests for cooling equipment and safety systems for tanks.
Closure: The New Energy Balance is Under Construction
The closure of the Strait of Hormuz has accelerated a process already underway: the reduction of dependence on Gulf routes and the creation of a more polarized energy infrastructure. American LNG is not just a temporary solution, but a strategic node in a new supply system. The real trade-off is that consumer countries must now bear additional costs to ensure energy security, while the United States gains a leading logistical position. The two key indicators to monitor in the coming months are: the traffic of LNG ships from Texas to Asia and the spot price of LNG in Europe. If the traffic exceeds 100 ships per month and prices remain above $120 per thousand cubic meters, the new balance will be consolidated. The transition is not only economic, but physical: every ton of LNG that crosses the Atlantic is a step towards an energy system less dependent on a single geographic node.
Photo by Mika Baumeister on Unsplash
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