The International Energy Agency (IEA) has stated in its quarterly gas market report that global liquefied natural gas (LNG) supply is set to see a "growth tide" in 2026, with the sharpest increase since 2019. Driven primarily by new production capacity in North America and Qatar, the supply is expected to rise by 7% (equivalent to 40 billion cubic meters) that year, following a 5.5% expansion in 2025.
This surge, described by the IEA as "the first year of the LNG wave," will be a key test—especially for demand responses in price - sensitive Asian markets, as well as in Africa and the Middle East. It is also expected to boost record - high gas demand, building on the momentum of rising LNG trade in 2025 (with supply additions 60% higher than in 2024).
Qatar’s North Field East LNG expansion project, set to start operations in mid - 2026 (with most gains spilling into 2027), and North American production growth are major contributors.
However, the IEA noted that while 2026 will mark a supply upturn, the market remains vulnerable to shocks for the rest of 2025—delays in new plant start - ups could tighten the global LNG balance in the short term.