Presentation of the latest 2026 Edition of the Quarterly Gas Market Report by the International Energy Agency (IEA)

The Middle East conflict has profoundly distorted the global natural gas market. It has put pressure on global gas balances, which had been gradually easing, while the damage to regional liquefied natural gas (LNG) export facilities has altered the medium-term outlook. Although flows of LNG cargoes through the Strait of Hormuz have been on the rise since the United States and Iran reached an interim peace agreement in June, they remain well below pre-conflict levels. The timeline for a full resumption of traffic through the waterway is subject to significant uncertainty.

The latest edition of the quarterly Gas Market Report explores what these dynamics and other international trends mean for natural gas supply, demand, shipping and prices. It provides a comprehensive review of developments during the first half of 2026 and a market forecast for the full year. There is also a special focus on the impacts of the Middle East conflict on global and regional gas markets.