Budapest, May 7 (SANA) The ongoing conflict in the Middle East could result in the loss of around 120 billion cubic meters of liquefied natural gas (LNG) supplies between 2026 and 2030, an analyst at the International Energy Agency (IEA) said Thursday.
According to Reuters, IEA gas analyst Gergely Molnar told the Budapest LNG Summit that the war was reshaping medium-term expectations for global gas markets and could prolong tight supply conditions beyond previous forecasts.
Molnar said the crisis had already reduced LNG supplies by around 15%, although expanding global liquefaction capacity is expected to partially offset losses from Qatar and the UAE.
Industry estimates suggest Iranian attacks have disrupted about 17% of Qatar’s LNG export capacity, raising concerns over energy supplies to Europe and Asia ahead of the summer season, when countries typically replenish gas storage reserves for winter demand.
Molnar said gas storage levels in the European Union are currently around 30% below the five-year average, noting that reaching the bloc’s 90% storage target would require an additional 10 billion cubic meters of gas.
R.A/ABD
