New liquefied natural gas (LNG) capacities set to come online next year will provide significant advantages for gas-importing nations, including European countries, Turkey, India, and Japan, according to Fatih Birol, the head of the International Energy Agency (IEA).
The surge in global LNG supply, expected to begin in 2026 and continue over the next three years, will bring positive developments for Europe, Birol said following discussions in Brussels on Thursday.
Birol highlighted that several LNG projects launched six to seven years ago in the US and Qatar are nearing completion, stating: “A massive wave of LNG supply will soon hit the markets, helping to lower gas prices.”
Read also : Global LNG market faces 10MT shortfall in 2025: ICIS
This shift is particularly significant for gas-importing nations as the market transitions from being seller-dominated to favoring buyers, thereby strengthening the bargaining position of importing countries. “This is good news for Europe, Turkey, India, and Japan,” Birol added.
According to IEA data, global LNG supply grew by about 2% last year, marking the slowest increase in four years, with an addition of just 10 billion cubic meters (bcm). However, LNG production is expected to rise by 6% this year, adding another 30 bcm, driven by several major projects coming online in North America.
Meanwhile, alongside Qatar's expansion projects, LNG liquefaction plants that have reached a final investment decision or are under construction are expected to add over 270 bcm per year of export capacity by 2030.
Editing by Reiner Simanjuntak
-600-x-500.jpg)
