The crucial Strait of Hormuz has been effectively shut since US and Israeli attacks on Iran in late February, blocking roughly a fifth of global oil supplies and rattling global markets.
Iran and the United States exchanged fresh strikes this week, straining a fragile ceasefire that took effect in April.
That cast doubt on US President Donald Trump’s claim that negotiations on an enduring settlement to end the war were in their “final throes”.
Sawan warned that even if the war ends soon, rebalancing the global energy system could take nearly a year, if not longer.
While soaring oil prices helped boost Shell’s net profit in the first quarter, the company warned the conflict was weighing on its gas production.
The Ras Laffan LNG hub – the world’s largest – has suffered particularly significant damage from strikes on Qatar.
“We’re in full throttle in terms of repairing it. We’ve already cleared out all the debris,” Sawan said on Wednesday.
“We are hopeful that towards the end of the first quarter of next year we can have the facility back up and running,” he added.
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