BE PREPARED: Shell CEO: Contingency Plans Ready If Strait Of Hormuz Closure Triggers Energy Shock.

Shell Plc is preparing contingency plans in case the conflict between Israel and Iran broadens and disrupts oil and gas flows through the critical maritime chokepoint of the Strait of Hormuz.

On Thursday, CEO Wael Sawan told Bloomberg’s Shery Ahn at the Japan Energy Summit & Exhibition in Tokyo, “If that artery is blocked, for whatever reason, it has a huge impact on global trade,” adding, “We have plans in the eventuality that things deteriorate.”

The situation would have been much more fraught not so long ago, before fracking turned the US back into a net energy exporter.