"Around 19 million barrels of oil, or 20% of the global oil trade, passes through the Strait of Hormuz each day. On average, exports from the Gulf constitute 80% to 90% of oil brought into Japan, and 30% to 40% of oil imported into China."
"The Strait of Hormuz, which sits at the entrance to the Persian Gulf, is also a key artery for liquified natural gas (LNG), with one fifth of global LNG volumes passing through its waters, according to a 2025 report by the U.S. Energy Information Administration (EIA). Of the LNG moved out of the Gulf, 83% was exported to Asian markets."
"Asian countries are particularly reliant on oil and gas from the Gulf region. The region is the world's fastest‑growing importer of oil, while production remains low due to depleting fields and limited new discoveries."
Asia's largest economies face potential fuel shortages and price increases following Iran's closure of the Strait of Hormuz, a critical shipping route for Middle Eastern oil and gas. The region imports 20% of global oil trade through this strait daily, with Gulf exports comprising 80-90% of Japan's oil imports and 30-40% of China's. Asian governments are responding by managing fuel stockpiles, with Thailand suspending crude exports and China halting diesel and petrol exports from major refineries. Japan and South Korea report adequate short-term fuel reserves. Despite some energy diversification efforts, Asian countries maintain high dependency on Gulf exports. The strait also handles one-fifth of global liquified natural gas, with 83% exported to Asian markets including China, India, and South Korea.
#energy-security #oil-and-gas-supply-chain #strait-of-hormuz #asian-energy-dependency #fuel-price-volatility
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