IEA says Iran war will keep the global natural gas market tight for two years

TL;DR

The Iran war is expected to disrupt global natural gas supplies for two years.
Damage to LNG facilities in Qatar has reduced its LNG capacity by 17%, with repairs estimated to take up to five years.
The closure of the Strait of Hormuz has cut off one-fifth of global oil and LNG supplies.
The crisis is expected to delay the impact of the anticipated global LNG expansion wave by at least two years.
Short-term supply losses and slower capacity growth could lead to a cumulative loss of 120 billion cubic meters of LNG supply through 2030.
Tight markets are expected to persist through 2026 and 2027.
Natural gas demand fell in March due to higher prices and demand-side policy measures, particularly in Asian countries.
The duration of the Strait of Hormuz closure is a key uncertainty affecting global gas demand in 2026.

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