PARIS: Liquefied natural gas (LNG) supplies are likely to remain strained through the end of 2027 due to disruptions and infrastructure damage from the US-Iran war, the International Energy Agency said Friday.<\/p>\n
Energy prices have soared since Tehran effectively closed the Strait of Hormuz<\/a> to Gulf tanker traffic and began striking oil and gas targets<\/a> in neighbouring countries in retaliation for US and Israeli attacks.<\/p>\n “The combined effect of short-term supply losses and slower capacity growth could result in a cumulative loss of around 120 billion cubic metres of LNG supply between 2026 and 2030,” the Paris-based agency said in a new report.<\/p>\n It said nearly 20 percent of LNG supply has been lost due to the conflict, and warned that new investments to increase production are likely to be delayed.<\/p>\n “While new liquefaction projects in other regions are expected to offset these losses over time, the impact will prolong tight markets through 2026 and 2027,” it said.<\/p>\n Soaring prices could also depress demand for gas, with many countries already announcing energy-saving measures that could drive demand for renewable energy sources.<\/p>\n “The demand side is set to play a key role in balancing the market — particularly in Asia, where fuel switching is already picking up alongside energy-saving measures,” the IEA said.<\/p>\n Economists warn that persistently high prices could spark widespread inflation that could derail growth worldwide if consumers curtail spending in response.<\/p>\n","protected":false},"excerpt":{"rendered":"PARIS: Liquefied natural gas (LNG) supplies are likely to remain strained through the end of 2027 due to…\n","protected":false},"author":2,"featured_media":416856,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,151033,60,74155,121541,158024],"class_list":["post-416855","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-iran-war","tag-ireland","tag-liquefied-natural-gas","tag-lng-supply","tag-west-asia-conflict"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/416855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=416855"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/416855\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/416856"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=416855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=416855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=416855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}