BNEF Pushes Global LNG Glut to 2028 as Middle East War Delays Supply
Updated
Updated · Bloomberg · Jul 14
BNEF Pushes Global LNG Glut to 2028 as Middle East War Delays Supply
2 articles · Updated · Bloomberg · Jul 14
Summary
2028 is now when the global LNG market will tip into oversupply, BloombergNEF said, delaying the glut by one year from its previous 2027 forecast.
Middle East war and delays to major LNG projects pushed back new supply, postponing the point at which the market moves into surplus.
2031 to 2032 is when excess supply is expected to peak, after multiple new projects finally come online, according to BNEF's global LNG outlook published Tuesday.
The revised timeline suggests tighter market conditions may last longer before a broader wave of LNG capacity creates the expected global surplus.
Facing volatile prices, should nations lock in long-term LNG deals or gamble on a future supply glut?
In the global LNG race, will America’s new projects outpace Qatar’s ambitious recovery and expansion?
Will the explosive energy demand from AI completely absorb the coming LNG supply glut?
LNG in Crisis: The 2026 Middle East Conflict’s Impact on Global Supply, Prices, and the Energy Transition
Overview
The Middle East conflict, triggered by attacks on Iran in late February 2026, quickly escalated and caused major disruptions in global LNG supply. This sudden crisis reversed earlier market stability, creating widespread uncertainty among traders who rushed to secure shipments and canceled existing deals. The turmoil spread rapidly, leading to economic anxiety and sharp declines in Asian stock markets. As the conflict intensified, it exposed the vulnerability of global energy markets, especially in Asia, and highlighted the risks of relying on a few key suppliers. The ongoing disruption continues to drive price spikes and reshape energy strategies worldwide.