IEA Says Iran War Damage Will Tighten Global Gas Markets Through 2027
The International Energy Agency said this week that Iran war damage will keep global natural gas markets tight through 2027.
The IEA report says damage to Gulf export and pipeline infrastructure has already tightened supplies and will push prices higher across Europe and Asia. Some analysts now warn of roughly a 120 billion cubic meter LNG shortfall and say rationing risks are rising.
The episode traces back to June 2025 when Israel launched airstrikes on Iranian nuclear and military sites and flared again after joint US-Israel strikes on Feb. 28, 2026 that targeted leaders and infrastructure. Iran's March 4 declaration closing the Strait of Hormuz and attacks on Qatar's Ras Laffan LNG complex damaged export capacity and disrupted flows, a chain of events outlined by CBS News. Qatar exported nearly 81 million metric tons of LNG in 2025, about 20% of global exports, and new LNG projects totaling roughly 345 billion cubic meters per year are due between 2025 and 2030 but come too late to fully ease tightness through 2027.
White House briefings and oil industry executives have warned of higher inflation and supply-chain pain if the conflict persists. The IEA's warning shifts market focus from a brief disruption to a multi-year supply squeeze that traders and policymakers must factor into planning through 2027.
Show source details & analysis (1 source)
đ Relevant Data
Qatar exported nearly 81 million metric tons of LNG in 2025, representing approximately 20% of global LNG exports. ([OilPrice.com](https://oilprice.com/Energy/Natural-Gas/Qatars-LNG-Blackout-Just-Broke-the-Global-Gas-Market.html)) ([OilPrice.com](https://oilprice.com/Energy/Natural-Gas/Qatars-LNG-Blackout-Just-Broke-the-Global-Gas-Market.html)) ([OilPrice.com](https://oilprice.com/Energy/Natural-Gas/Qatars-LNG-Blackout-Just-Broke-the-Global-Gas-Market.html)) ([OilPrice.com](https://oilprice.com/Energy/Natural-Gas/Qatars-LNG-Blackout-Just-Broke-the-Global-Gas-Market.html)) ([OilPrice.com](https://oilprice.com/Energy/Natural-Gas/Qatars-LNG-Blackout-Just-Broke-the-Global-Gas-Market.html)) ([OilPrice.com](https://oilprice.com/Energy/Natural-Gas/Qatars-LNG-Blackout-Just-Broke-the-Global-Gas-Market.html)) ([OilPrice.com](https://oilprice.com/Energy/Natural-Gas/Qatars-LNG-Blackout-Just-Broke-the-Global-Gas-Market.html)) ([OilPrice.com](https://oilprice.com/Energy/Natural-Gas/Qatars-LNG-Blackout-Just-Broke-the-Global-Gas-Market.html)) ([OilPrice.com](https://oilprice.com/Energy/Natural-Gas/Qatars-LNG-Blackout-Just-Broke-the-Global-Gas-Market.html)) ([OilPrice.com](https://oilprice.com/Energy/Natural-Gas/Qatars-LNG-Blackout-Just-Broke-the-Global-Gas-Market.html)) ([OilPrice.com](https://oilprice.com/Energy/Natural-Gas/Qatars-LNG-Blackout-Just-Broke-the-Global-Gas-Market.html)) ([OilPrice.com](https://oilprice.com/Energy/Natural-Gas/Qatars-LNG-Blackout-Just-Broke-the-Global-Gas-Market.html)) ([OilPrice.com](https://oilprice.com/Energy/Natural-Gas/Qatars-LNG-Blackout-Just-Broke-the-Global-Gas-Market.html))
Qatar's LNG Blackout Just Broke the Global Gas Market â OilPrice.com
The top importers of LNG from Qatar in 2024 were China (18.3 billion kg), South Korea (8.9 billion kg), India (7.2 billion kg), and Japan (6.5 billion kg). ([World Integrated Trade Solution (WITS), World Bank](https://wits.worldbank.org/trade/comtrade/en/country/All/year/2024/tradeflow/Imports/partner/QAT/product/271111)) ([World Integrated Trade Solution (WITS), World Bank](https://wits.worldbank.org/trade/comtrade/en/country/All/year/2024/tradeflow/Imports/partner/QAT/product/271111)) ([World Integrated Trade Solution (WITS), World Bank](https://wits.worldbank.org/trade/comtrade/en/country/All/year/2024/tradeflow/Imports/partner/QAT/product/271111)) ([World Integrated Trade Solution (WITS), World Bank](https://wits.worldbank.org/trade/comtrade/en/country/All/year/2024/tradeflow/Imports/partner/QAT/product/271111)) ([World Integrated Trade Solution (WITS), World Bank](https://wits.worldbank.org/trade/comtrade/en/country/All/year/2024/tradeflow/Imports/partner/QAT/product/271111)) ([World Integrated Trade Solution (WITS), World Bank](https://wits.worldbank.org/trade/comtrade/en/country/All/year/2024/tradeflow/Imports/partner/QAT/product/271111)) ([World Integrated Trade Solution (WITS), World Bank](https://wits.worldbank.org/trade/comtrade/en/country/All/year/2024/tradeflow/Imports/partner/QAT/product/271111)) ([World Integrated Trade Solution (WITS), World Bank](https://wits.worldbank.org/trade/comtrade/en/country/All/year/2024/tradeflow/Imports/partner/QAT/product/271111)) ([World Integrated Trade Solution (WITS), World Bank](https://wits.worldbank.org/trade/comtrade/en/country/All/year/2024/tradeflow/Imports/partner/QAT/product/271111)) ([World Integrated Trade Solution (WITS), World Bank](https://wits.worldbank.org/trade/comtrade/en/country/All/year/2024/tradeflow/Imports/partner/QAT/product/271111)) ([World Integrated Trade Solution (WITS), World Bank](https://wits.worldbank.org/trade/comtrade/en/country/All/year/2024/tradeflow/Imports/partner/QAT/product/271111)) ([World Integrated Trade Solution (WITS), World Bank](https://wits.worldbank.org/trade/comtrade/en/country/All/year/2024/tradeflow/Imports/partner/QAT/product/271111)) ([World Integrated Trade Solution (WITS), World Bank](https://wits.worldbank.org/trade/comtrade/en/country/All/year/2024/tradeflow/Imports/partner/QAT/product/271111))
Natural gas, liquefied imports from Qatar |2024 â World Integrated Trade Solution (WITS), World Bank
Between 2025 and 2030, around 345 billion cubic meters per year of new LNG export capacity is set to come online globally from projects that have already reached final investment decision and are under construction. ([International Energy Agency (IEA)](https://www.iea.org/data-and-statistics/data-tools/global-lng-capacity-tracker)) ([International Energy Agency (IEA)](https://www.iea.org/data-and-statistics/data-tools/global-lng-capacity-tracker)) ([International Energy Agency (IEA)](https://www.iea.org/data-and-statistics/data-tools/global-lng-capacity-tracker)) ([International Energy Agency (IEA)](https://www.iea.org/data-and-statistics/data-tools/global-lng-capacity-tracker)) ([International Energy Agency (IEA)](https://www.iea.org/data-and-statistics/data-tools/global-lng-capacity-tracker)) ([International Energy Agency (IEA)](https://www.iea.org/data-and-statistics/data-tools/global-lng-capacity-tracker)) ([International Energy Agency (IEA)](https://www.iea.org/data-and-statistics/data-tools/global-lng-capacity-tracker)) ([International Energy Agency (IEA)](https://www.iea.org/data-and-statistics/data-tools/global-lng-capacity-tracker)) ([International Energy Agency (IEA)](https://www.iea.org/data-and-statistics/data-tools/global-lng-capacity-tracker)) ([International Energy Agency (IEA)](https://www.iea.org/data-and-statistics/data-tools/global-lng-capacity-tracker)) ([International Energy Agency (IEA)](https://www.iea.org/data-and-statistics/data-tools/global-lng-capacity-tracker)) ([International Energy Agency (IEA)](https://www.iea.org/data-and-statistics/data-tools/global-lng-capacity-tracker)) ([International Energy Agency (IEA)](https://www.iea.org/data-and-statistics/data-tools/global-lng-capacity-tracker))
Global LNG Capacity Tracker â International Energy Agency (IEA)
đ Key Facts
- IEA quarterly report on Friday says Iran war will keep global natural gas markets tight through 2026-2027.
- Iranian strikes on Qatar's Ras Laffan LNG hub reduced export capacity by about 17%, with repairs possibly taking five years.
- Conflict-driven closure of the Strait of Hormuz has effectively cut off around one-fifth of global oil and LNG supplies.
- IEA estimates a cumulative loss of about 120 billion cubic meters of LNG supply through 2030 due to damage and delayed projects.
- Natural gas demand fell in March, and some Asian countries are adopting demand-side and fuel-switching measures in response to higher prices.
đ° Source Timeline (1)
Follow how coverage of this story developed over time