IEA: Tight Gas Markets Will Last Through 2030

The war in Iran and the subsequent loss of LNG supply from the Middle East are altering the medium-term outlook of global natural gas balances, with tighter markets set to last longer than previously expected, a senior official at the International Energy Agency (IEA) said on Thursday. The Middle East crisis has resulted, so far, in the loss of about 120 billion cubic meters (bcm) of global LNG supply through 2030, Gergely Molnar, Energy Analyst – Natural Gas, at the IEA, said. Global LNG supplies have shrank by around 15% due to the conflict…