News that the US and Iran are expected to sign a memorandum of understanding (MOU) by the end of the week to reopen the Strait of Hormuz has been greeted with cautious optimism by the global gas and LNG markets. There is still a lot that can derail any sustainable firm agreement, as the past three months of conflict have shown, and the implementation of the points in the MOU along with an extended 60-day ceasefire period remain unclear at best.
Viewpoint: Iran-US MOU Won't Resolve Hormuz LNG Conundrum Promptly
The recent Iran-US deal is yet to determine how fast Qatari LNG production will resume and whether Hormuz transit will be considered safe for shippers.
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