The expansion of spot trading (cash market trading – ed.) and the growing share of liquefied natural gas (LNG) contracts with more flexible terms allowing changes to the final destination have strengthened interconnections between regional markets and increased their resilience to supply disruptions, stated in the International Energy Agency's (IEA) "Global Gas Security Review 2026" report, APA-Economics reports.
However, the virtual halt of LNG flows through the Strait of Hormuz resulted in a reduction of more than 60 billion cubic meters in shipments from Qatar and the United Arab Emirates between March and October this year. This caused gas prices in Asia and Europe to reach their highest levels since the 2022–2023 gas supply crisis.
According to the document, since the report was first published in 2016, the global gas market has changed significantly, becoming more flexible, liquid, and interconnected. At the same time, the market has become more complex.
The report analyzes how structural changes over the past decade have transformed global gas markets and helped importing countries in some regions cope with the supply shock caused by the ongoing conflict in the Middle East.
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