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2026-11-03 14:30:25
[International Energy Agency: Global LNG Production May Face Largest Annual Cut in History, Natural Gas Market Supply Tightens Sharply] (1) The International Energy Agency (IEA) stated that the natural gas market is facing a severe supply shortage. (2) Affected by supply disruptions due to the conflict with Iran and increased competition among importing countries, global liquefied natural gas (LNG) production may experience its largest annual decline in history; the agency predicts that global LNG supply will decrease by 3% this year, approaching 20 billion cubic meters. (3) The Strait of Hormuz, which previously handled about 20% of global LNG shipments, is now experiencing shipping disruptions, coupled with Iran's attacks on key regional infrastructure, leading to a significant reduction in exports from Qatar and the UAE. (4) The Paris-based energy agency, representing Western countries and their allies, stated that the forecast is based on the premise that trade and shipping through the Strait of Hormuz will remain largely disrupted at least until the end of this year. (5) Increased production in other regions has alleviated the supply shock to some extent: new projects in North America and Africa, coupled with existing LNG plants in Africa, Asia and Russia obtaining more gas sources, led to a 14% increase in production outside the Persian Gulf from March to October, making up for about two-thirds of the supply gap in the Gulf region.
