IEA Chief Warns Gulf Flows May Take Six Months To Restore After Biggest-Ever Energy Shock [zero hedge]
JP Morgan Chase & Co. (JPM)
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Source: zero hedge
IEA Chief Warns Gulf Flows May Take Six Months To Restore After Biggest-Ever Energy Shock The head of the International Energy Agency told the Financial Times on Friday that the world is severely underestimating the scale of the Gulf energy shock , and that it may take at least six months to restore disrupted oil and gas flows. Fatih Birol described the conflict, now in its third week , as "the greatest global energy security threat in history", and said it would take time "to have oil and gas rehabilitated". "It will be six months for some [sites] to be operational, others much longer," Birol warned. Attacks on energy facilities in the Middle East continued this week, with Israel unleashing a firestorm by striking Iran's South Pars gas facility , which led Iranian forces to launch attacks on Qatar's LNG facilities that may take three to five years to return to full capacity. Both attacks signaled that upstream energy assets were no longer off-limits , though Israel has since promised
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