IEA forecasts the Middle East conflict could mean tighter gas markets until 2030

The IEA forecasts a loss of approximately 120 billion cubic meters of global liquefied natural gas supply between 2026 and 2030 due to the US/Iran conflict. This is driven by the closure of the Strait of Hormuz and damage to Middle East LNG facilities, leading to longer-term market tightening. The US is increasing supply to Asia to mitigate the impact, but challenges remain with European gas storage levels.