The International Energy Agency warned on Friday that ongoing tensions in the Middle East could result in the loss of around 120 billion cubic meters of global liquefied natural gas (LNG) supply between 2026 and 2030, equivalent to roughly 15 percent of projected global output.
In its quarterly report on gas market outlook, the agency attributed the potential losses to temporary disruptions in supply flows, along with a slowdown in the expansion of production capacity, reports Al-Rai daily.
The IEA noted that while new liquefaction projects are expected to come online and eventually offset these losses, the immediate impact will be felt mainly this year and next.
This could delay the anticipated surge in LNG supply from upcoming projects.
The agency highlighted that each month without LNG shipments passing through the Strait of Hormuz could lead to a loss of approximately 10 billion cubic meters of supply.
It also warned that any prolonged disruption in the strait would weigh on global demand this year, prompting a downward revision in its consumption forecasts.
