While nobody knows how long the war in Iran will take, alongside the blocade on the Hormuz strait, gas prices could affecst economies, including Romania, which, however, has a good position due to its deposits, CEO of E.ON Romania, Volker Raffel, responded to an Energynomics question during the AHK (German-Romanian Chamber of Commerce and Industry) meeting.
He says the markets will be affected if the war and blockage of Hormuz will take longer, however, nobody knows how long it will take. In the meantime, Roamnian consumers have nothing to fear.
”So no one knows how long it takes… I think if I put as a possibility to ask Donald Trump how long it takes, he could not answer me, but I do not ask… More seriously, we don’t know how long this period is, where the exports from Qatar, of LNG, to the rest of the world are locked. No one knows. And if it is just temporary, I think, the impact normally should be manageable. If it is more long term, of course, we will see an impact on gas prices all over the world, which will hit China, because most of Quatarian gas goes to China, they import 12% on their gas from Quatar,” said Raffel.
”It’s probably to have a price impact. I was reading that in Japan, they are not so much concerned about the prices only, but also about the fact whether the gas is coming, physically, arriving in Japan or not.
”Romania is a good position physically, because gas is here. On that end, I’m fully confident now comes a time where we all know we have so much gas that we can also store for the next winter. So physically all good. As I also said on households, I think for another year, we do not have any impact, probably, on gas, but this depends on the plan the government is really doing, which we do not know yet. And for the economy, I think, of course, unfortunately, there is a price increase for gas, probably unavoidable. A contract is a contract, but for those who not having yet contracted gas for the future, probably there’s a price effect. Again, I cannot, and I think no one can, today, tell how long period would take (the conflict and the blokade – e.n.),” he added.
