TechFlow News, May 17: According to The Hill, U.S. Energy Secretary Wright stated on Friday local time that the Strait of Hormuz “will reopen by some point this summer at the latest.” Wright said the United States “is continuing to expand U.S. natural gas exports,” adding that although the closure of the Strait of Hormuz has resulted in a daily loss of 10 billion cubic feet of natural gas transportation capacity, the U.S. is still adding 2.5 billion cubic feet of natural gas export capacity per day. “Maritime traffic through the Strait of Hormuz will resume as soon as possible—but no later than this summer,” Wright stated, then added that a related agreement could be reached “as early as in the coming days.” Wright noted that if Iran “continues to hold the global economy hostage,” the U.S. military “will forcibly reopen the Strait of Hormuz—but this would not be an easy task.” “We have already taken preliminary steps, but reaching an agreement remains preferable to resorting to military force.”
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