According to the International Energy Agency (IEA), liquefied natural gas (LNG) supply is set to grow by 7% in 2026, the biggest annual increase since 2019. Most of this surge will come from new production in North America, with Qatar’s highly anticipated North Field East project also expected to contribute.

So what does this mean? After years of tight supply and rising demand, especially since the 2022 energy crisis, the world may finally see some relief. The IEA believes this wave of new gas could ease pressure on prices and unlock stronger demand, particularly in fast-growing markets across Asia, the Middle East, and Africa.

“This will be a key test of how much demand can bounce back when supply finally catches up,” said Gergely Molnar, a gas analyst at the IEA.

Some of that bounce is already underway. LNG trade has picked up significantly this year, helped by new projects like LNG Canada. Europe continues to absorb a large share of global flows as it races to fill gas storage ahead of winter.

Qatar’s expansion is expected to start mid-2026, but much of its real impact will be felt in 2027 and beyond. Still, the IEA sees 2026 as a “turning point”, a year that could redefine the global gas landscape.

However, the agency warns that 2025 isn’t in the clear yet. Any delays in new gas project timelines could still tighten supply in the short term.