A surge in liquefied natural gas LNG supply is set to play a central role in rebalancing global gas markets in 2026, supporting renewed acceleration in demand growth after a slowdown last year, according to the latest quarterly Gas Market Report from the International Energy Agency IEA.
The report builds on the IEAs Gas 2025 outlook released in October, which projected a record wave of LNG projects coming online this decade. That expansion is expected to reshape global gas trade, strengthen market integration and improve affordability for emerging economies as new supply reaches the market.
The IEAs latest report, released on January 23, shows that global gas demand growth slowed to below 1 in 2025, following relatively strong expansion in 2024. The agency attributes this decline to tighter supply conditions in the first half of 2025, which pushed spot prices higher, alongside weaker industrial activity that dampened consumption, particularly across Asian markets. Conditions began to ease from mid-2025 as LNG production accelerated.
