IEA: Iran war could prolong tight natural gas market supply for two years

Golden Ten Data reported on April 24 that the International Energy Agency (IEA) stated the global natural gas market will continue to face tight supply even after this year, as ongoing conflicts in the Middle East and damage to regional infrastructure continue to disrupt supply. In a report released on Friday, the IEA noted that the war has delayed an expected surplus in liquefied natural gas supply, despite new capacity gradually coming online. The impact of this capacity expansion, mainly driven by the United States, has been postponed by “at least two years.” The IEA said that, in the short term, the combined effect of reduced supply and slower capacity growth could lead to a total liquefied natural gas supply gap of about 120 billion cubic meters during the period from 2026 to 2030. This estimate already takes into account the postponed North Field East expansion project in Qatar.