UK-Europe Construction Leaders Needed on Energy Risk from Hormuz Crisis

Energy security. Two words that Europe spent 2022 relearning after Russia cut gas supplies. The Strait of Hormuz crisis just put them back on the front page. Here is what the data actually says about UK and European exposure right now: → 10% of all LNG imported into Europe comes directly from Qatar via the Strait of Hormuz. Italy, Belgium, and Poland carry the heaviest exposure among EU nations. → At least three LNG carriers travelling to or from Qatar have already paused voyages to avoid the Strait. Supertankers carrying Iraqi and Saudi crude are anchored and waiting in the Gulf of Oman. → ICIS modelling shows a three-month disruption would send European benchmark gas prices sharply higher and strain storage levels heading into winter. → A sustained oil price rise to $100 per barrel would add 0.6 to 0.7% to global inflation, according to Capital Economics. That directly hits electricity prices across Europe, where gas-fired power stations remain the marginal generator setting the market price. → Europe reduced its LNG imports from Qatar and the UAE by 26% in 2024 after Suez Canal disruptions forced rerouting. That diversification work is now being stress-tested again, faster than most energy ministers anticipated. The honest truth is this. Europe has made genuine progress since the 2022 energy crisis, building new LNG import terminals, diversifying suppliers, and cutting demand by 20% over three years. But diversification is not the same as insulation. A sustained Strait of Hormuz disruption does not just raise energy bills. It raises the cost of everything built, manufactured, or heated using energy in the UK and Europe. That includes every live construction project on the continent. What is your assessment of the energy risk to your business or projects right now? I would like to hear from people on the ground.