War in Iran: How Algeria and Nigeria Rescued Europe

The near-closure of the Strait of Hormuz after the outbreak of war between the US, Israel and Iran disrupted nearly a fifth of global LNG trade since February 2026. Europe maintained supplies thanks to additional volumes from the US, as well as Algeria and Nigeria, which increased deliveries via pipelines and LNG. Gas prices rose 31% and the EU's gas bill surged 48%, but no major rupture occurred. A peace deal between Washington and Tehran suggests a gradual return to normal, but traffic may take weeks to recover.