Global Gas System Shows Resilience in Face of Supply Shock

The global gas system has shown remarkable resilience in the face of a major supply shock in 2026, according to the 2026 Global Gas Report by Snam and IGU. The report highlights that global gas demand reached a record 4,202 billion cubic meters (bcm) in 2025, with a 1.7% increase from the previous year.

The system's increased diversification, flexibility, and adaptability enabled it to absorb the disruption caused by the Strait of Hormuz crisis more effectively than in 2022. The crisis constrained around 20% of global LNG supply, but gas prices rose only slightly, remaining below the extremes seen four years ago.

The report notes that alternative sources of supply were available, storage helped buffer the disruption, and buyers adapted quickly to the situation. To maintain this resilience, continued investment in LNG supply, regasification capacity, storage, and diversified supplier portfolios is essential.