Iran's War Could Delay LNG Market Surplus for a Year

Bloomberg NEF reports expect the liquefied natural gas (LNG) market to enter a surplus phase in 2028, rather than 2027 as previously anticipated. This delay is attributed to postponed major project implementations and the repercussions of the war in the Middle East, especially after the damage to Qatar’s largest export terminal and the near-complete closure of the Strait of Hormuz. The surplus is projected to reach its peak between 2031 and 2032 with the commissioning of new projects, while the energy market will face challenges in restoring supply balance. Ongoing risks include continued weak shipments and the geopolitical conflict’s impact on prices and global supplies.