Hormuz crisis shows Europe more exposed to gas price shocks than before Ukraine war, study finds (euobserver.com)

• Gas prices could exceed 2022 crisis levels.
• CEPS study warns of double shock scenario.
• LNG dependence and chokepoint risk identified.

"A study warns that if the Strait of Hormuz remains shut and the US restricts gas exports to Europe, prices would exceed the 2022 peak. Europe's increased reliance on LNG via vulnerable sea routes creates structural risk. Researchers call for accelerated import diversification and renewable expansion."