Even if the war in the Middle East were to end soon, energy prices could remain high for quite some time.

One reason lies in the infrastructure of the Gulf region. 
A large share of the world’s LNG export capacity is concentrated there – and is currently being deliberately targeted or destroyed.

Liquefaction plants are among the most complex industrial projects in existence. 
Planning, construction and commissioning usually take several years.

In energy politics, infrastructure – and its vulnerability – often shapes prices for longer than conflicts themselves.

Fossil infrastructure is highly concentrated. 
Renewable energy systems, by contrast, are far more decentralized and therefore less vulnerable.

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