Excelerate Energy Inc, which operates gas operations in Jamaica, Asia, and the Middle East, said the closure of the Strait of Hormuz is costing the company US$1 million per month.

Concurrently, the Houston, USA-based company said that its Jamaican customers continue to grow as it prepares to use Jamaica as a hub for the region.

“We expect the financial impact to be approximately $1.0 million per month while the Strait of Hormuz remains closed,” stated Steven Kobos, president and CEO, Excelerate Energy, in the earnings call last Thursday.