FRANKFURT, Germany (AP) — Missiles and drones are flying in the Red Sea, disrupting one of the world's key trade arteries and a chokepoint for energy shipments headed for Europe.
Last year, 12.9% of Europe's LNG went through the Red Sea from suppliers in the Middle East, mainly Qatar.
That means “an extended shut-in of the Red Sea route from the Middle East poses a supply risk to Europe,” said Kaushal Ramesh, vice president at Rystad Energy.
So far, there's been little to no impact on natural gas prices.
Europe is getting a break because demand for natural gas is weak amid a sluggish economy.
Persons:
Yemen's Houthi, it's, ”, Kaushal Ramesh, there's, ” Rystad's Ramesh, Simone Tagliapietra, Tagliapietra, Biden, Vladimir Putin, Joe Biden, Jennifer Granholm, Eurogas, Tagliapeitra, Claudia Kemfert, ___ Daly
Organizations:
Missiles, Union, SEA, Italy's, Europe's, Rystad Energy, WHAT'S, Energy, Industry, German Institute of Economic Research, Leuphana University
Locations:
FRANKFURT, Germany, Red, Europe, Italy, Russia, Ukraine, Mandab, Israel, U.S, Yemen, Africa, Suez, Qatar, China, Norway, Azerbaijan, Brussels, Iran, Hormuz, Persian, That's, ”, Asia, ” U.S, USA, EU, Washington