The conflict in the Middle East has already led to a loss of about 120 billion cubic meters of global liquefied natural gas (LNG) supply over the 2026-2030 period, Reuters reports, citing Gergely Molnar, a gas analyst from the International Energy Agency (IEA).

Molnar told the Budapest LNG Summit that the conflict was altering the medium-term gas outlook and tighter market conditions “could persist for longer than previously expected”.