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International Energy Agency forecasts decline in global natural gas consumption in 2026
The International Energy Agency forecasted a 0.5% decline in global natural gas consumption in 2026, due to rising prices which reduced demand from power plants and the industrial sector, especially as supplies dwindled as a result of the war between the United States and Iran. It was also noted that demand in Asia decreased by one percent year-over-year in the first half, and there is a warning that global liquefied natural gas (LNG) supplies could fall for the first time since 2012 if the Strait of Hormuz is not fully reopened before the start of the fourth quarter.
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