Woodside Energy Group CEO Liz Westcott warned the world is underestimating the duration of the Iran war’s impact on global liquefied natural gas (LNG) supply. She made the remarks on May 20 at the Australian Energy Producers Conference in Adelaide [1, 2].
Westcott challenged the widespread market and consumer belief that LNG supply conditions will soon return to normal. "I don’t think markets and consumers and society are yet fully appreciating it, and there’s a belief that things will return to normal at some soon point," she said [1].
The ongoing conflict in Iran has disrupted LNG production and export routes, contributing to supply shortages seen across global markets. Westcott’s comments highlight concerns that recovery in LNG availability may take significantly longer than many anticipate, affecting energy prices and supply stability worldwide [1, 2].
As the Iran war continues, LNG producers and consumers are urged to reconsider expectations for a quick rebound in supply. Westcott’s speech at the Adelaide conference was the latest call from industry leaders to factor in prolonged geopolitical risks to energy markets [1, 2].
