Major LNG exporters Qatar and the United Arab Emirates rely on passage through the Strait of Hormuz to supply Asian markets.
However, Iran has threatened to block the strait, prompting concerns about a possible spike in LNG prices, along with supply worries.
However, Federal Resources Minister Madeleine King has sought to assure domestic gas users that they will not be impacted by any pricing or supply issues that might arise if the Strait of Hormuz is blocked, noting that the federal government can intervene in pricing and supply.
