The global liquefied natural gas (LNG) market is projected to remain in a state of supply tightness through at least 2027, according to a recent assessment by ING. This shift follows Iranian attacks on Qatari gas infrastructure, which have transformed what was initially perceived as a temporary disruption into a long-term structural crisis. Initial damage assessments at key facilities like Ras Laffan suggest that repairs and the restoration of lost capacity will take years rather than months. Consequently, the multi-year supply deficit is expected to provide sustained upward pressure on global natural gas prices. Benchmarks such as TTF and JKM are likely to remain elevated as the market adjusts to the prolonged absence of Qatari volumes. This environment creates a strategic advantage for non-Middle Eastern LNG exporters, including US-based firms like Cheniere Energy.
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