IEA: Global LNG Supply to Jump This Year, Demand Stronger
GAS INDUSTRY NEWS
Bloomberg Technoz Editorial Team
1/23/2026
The International Energy Agency (IEA) projects that global LNG supply will increase significantly this year, offsetting the trend of strengthening demand in China and emerging markets in Asia.
The IEA estimates that LNG supply growth this year will increase by 7%, faster than in 2019. North America is expected to contribute the majority of the additional supply, amounting to 40 billion cubic meters (bcm).
This increase in supply is expected to drive stronger global gas demand growth, approaching 2% by 2026.
"The ongoing LNG surge will play a central role in shaping the global gas market in the coming years," said Keisuke Sadamori, Director of Energy Markets and Security at the IEA, in a press release on Friday (January 23, 2026).
"It is likely to exert downward pressure on prices and increase liquidity as regional gas markets become more connected," he said.
New LNG capacity coming online in North America is the biggest driver of this global increase, pushing global LNG supply growth to double-digit levels in the second half of 2025 and contributing to lower spot prices in Europe and Asia.
Conversely, easing supply fundamentals are expected to drive stronger global gas demand growth, driven primarily by China and emerging Asian markets.
Natural gas demand in the Asia-Pacific region is expected to increase by 4% in 2026, accounting for approximately half of total global gas demand growth.
Natural gas demand is projected to remain relatively stagnant in North America and is expected to decline by 1% in Central and South America as hydropower generation recovers.
“Nevertheless, various risk factors remain—including geopolitical tensions and weather conditions—as demonstrated by the volatility of the natural gas market in early 2026,” he said.
In Europe, the continued expansion of renewable energy is expected to reduce gas demand by 2%. In Eurasia, gas consumption is expected to increase by 3.5%, assuming a return to average weather conditions.
Meanwhile, combined gas demand in Africa and the Middle East is expected to increase by 3.5%, as gas use in the industrial and power sectors increases.
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The International Energy Agency (IEA) projects that global LNG supply will increase significantly this year, offsetting the trend of strengthening demand in China and emerging markets in Asia.
The IEA estimates that LNG supply growth this year will increase by 7%, faster than in 2019. North America is expected to contribute the majority of the additional supply, amounting to 40 billion cubic meters (bcm).
This increase in supply is expected to drive stronger global gas demand growth, approaching 2% by 2026.
"The ongoing LNG surge will play a central role in shaping the global gas market in the coming years," said Keisuke Sadamori, Director of Energy Markets and Security at the IEA, in a press release on Friday (January 23, 2026).
"It is likely to exert downward pressure on prices and increase liquidity as regional gas markets become more connected," he said.
New LNG capacity coming online in North America is the biggest driver of this global increase, pushing global LNG supply growth to double-digit levels in the second half of 2025 and contributing to lower spot prices in Europe and Asia.
Conversely, easing supply fundamentals are expected to drive stronger global gas demand growth, driven primarily by China and emerging Asian markets.
Natural gas demand in the Asia-Pacific region is expected to increase by 4% in 2026, accounting for approximately half of total global gas demand growth.
Natural gas demand is projected to remain relatively stagnant in North America and is expected to decline by 1% in Central and South America as hydropower generation recovers.
“Nevertheless, various risk factors remain—including geopolitical tensions and weather conditions—as demonstrated by the volatility of the natural gas market in early 2026,” he said.
In Europe, the continued expansion of renewable energy is expected to reduce gas demand by 2%. In Eurasia, gas consumption is expected to increase by 3.5%, assuming a return to average weather conditions.
Meanwhile, combined gas demand in Africa and the Middle East is expected to increase by 3.5%, as gas use in the industrial and power sectors increases.
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IEA: Global LNG Supply to Jump This Year, Demand Stronger
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