It also allows it the opportunity to develop another major source of liquefied natural gas (LNG) supplies, to the detriment of the U.S.’s key allies in Europe. Most notable of the energy sector deals made public was for the joint study of the Hengam oil and gas field. This point is the key global transit route for around 30-40 percent of all the world’s oil at any given moment. This new deal for the Hengam oil and gas field will further cement China’s grip over all Middle Eastern oil and LNG transit routes. This is again much more important than just finally giving Iran an LNG industry, for two key reasons.

Source: The North Africa Journal June 06, 2023 22:06 UTC