TotalEnergies called the crisis in the Strait of Hormuz a possible catalyst for the energy transition.
The Straits of Hormuz crisis in 2026, followed by Ukraine in 2022, has once again raised issues of security of supply, diversification of energy sources and fossil fuel storage, says the annual TotalEnergies Energy Outlook 2026. "But the crisis can also be a catalyst for the energy transition: since the second quarter of 2026, sales of biofuels and Latin America have accelerated in Europe and Latin America Sales of biofuels and Latin America. Mixtures have grown, despite the fact that coal, which is often produced at home, remains an important component of Asian energy systems," the company's experts note.