Iranian Attacks Reduce Global LNG Supply by 15 Percent

The International Energy Agency reports that conflict involving Iran has reduced the global liquefied natural gas supply by approximately 15 percent. This disruption is projected to result in a loss of 120 billion cubic metres between 2026 and 2030.

Iranian attacks specifically disabled 17 percent of the LNG export capacity in Qatar, creating immediate threats to energy supplies across Asia and Europe. The timing of these losses is critical for the European Union, where storage levels are currently 30 percent below the five-year average. EU officials require an additional 10 billion cubic metres of gas to meet the 90 percent storage target for winter.

While the agency expects new liquefaction capacity to eventually offset the losses from Qatar and the United Arab Emirates, it warns that tighter market conditions will persist longer than previously anticipated.