Fears of soaring gas and electricity prices in Germany are growing. Around 20% of the world’s liquefied natural gas (LNG) is shipped through the Strait of Hormuz, according to the UN trade body UNCTAD. But since the start of the war in Iran, traffic through the narrow strait has ground to a halt.
Germany is heavily dependent on energy imports. Around two-thirds (67%) of the energy it consumes has to be imported, according to the Federal Statistical Office. The EU average is 57%.
