Low gas reserves threaten to prolong tension in the market

The "Global Gas Security Review 2026" by the IEA highlights significant changes in the global gas market, making it more flexible yet complex. The report notes a decline in LNG supplies due to disruptions in the Strait of Hormuz, leading to increased gas prices in Asia and Europe. It forecasts a 3% decrease in global LNG supply and a 1.5% drop in demand, particularly in the Middle East and Europe. Low storage levels in the EU raise concerns about winter supply vulnerabilities. The report emphasizes the need for enhanced international cooperation on supply security amid these challenges.