The International Energy Agency (IEA) predicts a slight decline in global natural gas demand by 2026 due to rising prices and changes in key markets, particularly in Asia, driven by the conflict in the Middle East. In 2023, gas demand is expected to fall by 0.5% compared to 2022, marking the third consecutive year of decline after drops in 2020 and 2022. This decrease is attributed to reduced consumption in industrial and energy sectors in the Middle East and Asia, limited supply, damage to power plants and industrial facilities, and disruptions in production. Asian countries like India and China have turned to alternative fuels such as coal and sourced supplies outside the Middle East, reducing reliance on natural gas. Rising prices have further suppressed demand, even among buyers who managed to secure gas from non-Middle Eastern suppliers. While prices in Asia and Europe have normalized somewhat since March, they remain significantly higher than in 2025. The Strait of Hormuz, through which about 20% of global liquefied natural gas (LNG) shipments pass, continues to experience lower traffic than pre-war levels, creating uncertainty for both buyers and sellers. Despite a sharp 80%
Bias read (Center): The article presents a balanced report based on the IEA's forecast and analysis, citing factors such as market conditions, geopolitical conflicts, and economic decisions affecting natural gas demand. It does not exhibit clear bias toward any political side but rather provides data-driven insights.
