Global Gas Demand Hits Record High Before Strait of Hormuz Crisis Eases

Global natural gas demand reached a record high of 4,202 billion cubic meters (bcm) in 2025, up by 69 bcm or 1.7% from the previous year.

This growth was largely driven by strong demand in Asia and Europe, with Asia adding 25 bcm of gas demand in 2025 and Europe adding 10 bcm due to colder weather and lower wind power generation.

However, global gas demand is expected to decline by 7 bcm in 2026 as the Strait of Hormuz crisis disrupts supplies and raises prices for buyers in Asia and Africa.

The disruption has constrained around 20% of global LNG supply, equivalent to about 3% of total global natural gas supply in 2025, pushing global gas supply down by 4 bcm in 2026.