Volatility is becoming a structural feature of the global liquefied natural gas LNG market, according to the International Energy Agency IEA a trend that carries implications for countries planning greater use of gas in power generation.
The IEAs latest quarterly Gas Market Report , released on January 23, found that price volatility resurfaced early this year despite easing global gas supply. The agency attributes this instability to geopolitical tensions, weather variability and infrastructure constraints weakening the industry assumption that more gas automatically delivers market stability.
Natural gas markets experienced renewed volatility in early 2026 even after spot prices softened in late 2025. The report highlighted this as evidence that looser supply fundamentals alone are not sufficient to stabilise markets.
