2026 Global Gas Report

FOLLOWING A RECORD GAS DEMAND IN 2025, THE 2026 GLOBAL GAS REPORT SHOWS
A MORE RESILIENT GAS SYSTEM FACES A MORE DEMANDING ENERGY FUTURE

The global Gas demand reached a record 4,202 billion cubic metres (bcm) in 2025, while investment in diversification, LNG infrastructure and storage helped the global Gas system absorb a major 2026 supply shock far more effectively than in 2022.

The global Gas system entered 2026 from a position of strength, with natural gas demand reaching a record 4,202 bcm in 2025, an increase of 69 bcm or 1.7%, according to the 2026 Global Gas Report by Snam and IGU. The system has become more diversified, more flexible and significantly more resilient to disruption - while warning that the next challenge will be ensuring that this resilience keeps pace with a rapidly changing and increasingly demanding global energy system.

The findings come as the global energy landscape faces simultaneous pressures from geopolitical disruption, growing electricity demand, extreme weather, expanding LNG trade, the rapid growth of artificial intelligence (AI) and data centres, as well as from the global Gas industry's continuing need to reduce emissions.

The Strait of Hormuz crisis of 2026 provided the most significant test of the global Gas system since the energy crisis of 2022. The disruption constrained around 20% of global LNG supply, equivalent to roughly 3% of total global Gas supply. Global Gas production is expected to fall by 4 bcm (-0.1%) in 2026, with the impact on Middle East production largely offset by robust production growth in the US and other regions. Global demand is also expected to moderate downwards by 7 bcm (-0.2%). This would represent the first decline in supply and demand respectively since 2022. However, the impact was markedly different from 2022.

Gas prices rose but remained well below the extremes seen four years ago. TTF prices peaked above US$20 per MMBtu (EUR 60/MWh), compared with more than US$70 (EUR 227/MWh) during the 2022 crisis. This greater resilience reflects the investment made since 2022 in diversified supply, LNG capacity, regasification, storage and procurement flexibility. Alternative sources of supply were available, storage helped buffer the disruption and buyers were able to adapt: the resilience of the global Gas system was built before the Strait of Hormuz crisis arrived. To maintain this resilience, continued investment in LNG supply, regasification capacity, storage and diversified supplier portfolios are imperative.

In 2025, the global natural gas demand increased across every region except Oceania. Residential and commercial heating accounted for the largest increase, at 32 bcm, followed by industry at 20 bcm and power generation at 17 bcm. Power remained the world's largest end-use sector, accounting for 34% of global Gas demand. Asia recorded the largest regional increase, adding 25 bcm, followed by the Middle East at 18 bcm and Europe at 10 bcm. Transport was the fastest-growing sector, increasing by 9 bcm.

The global Gas production reached an all-time high of 4,147 bcm in 2025, with North America accounting for 54 bcm of additional supply - more than every other growing region combined.

The United States also overtook Russia to become the world's largest net Gas exporter, exporting 167 bcm in 2025, while US LNG supplied more than half of Europe's LNG imports. If recent demand trends continue, the global Gas demand could reach between 4,516 and 4,575 bcm by 2030, reinforcing the need for continued investment in production, LNG, regasification and storage to keep pace with demand.

Energy planning, therefore, needs to account for the possibility of higher demand outcomes, particularly as data centres expansion, rising cooling requirements and geopolitical uncertainty make future energy consumption increasingly difficult to predict. Amidst this uncertain context, Gas remains essential not only as a source of energy supply, but also as a tool for system resilience, helping markets manage demand volatility, supply disruptions and risks to reliable energy and power supply.

Global data centre capacity reached 141 GW at the end of 2025, across almost 7,000 facilities, more than twice the level of five years earlier. The full pipeline could exceed 500 GW by 2030, with around 64% targeting AI. Data centres can be built in one to three years, while grid infrastructure can take five to fifteen years to develop.

At the same time, unpredictable events can place pressure on demand, generation and infrastructure simultaneously. The result is a growing requirement for reliable dispatchable supply, grid reinforcement and demand flexibility that Gas and its infrastructure can provide.

A significant push for innovation is driving the global Gas industry forward into the future as a growing number of industry players are banking on modular infrastructure, AI & digitalisation and emission abatement. Evidence in this regard is the global Exploration & Production digital and AI spend which, in 2025, was of approx. US$25bn.

Industry innovation is also building new markets in low-emission gases and carbon removals. The global biomethane capacity rose by 15% in 2025, to 16.5 bcm, and is expected to more than quadruple capacity to 2030 (from 2020 levels). Carbon capture is also advancing. Operational capture capacity increased by 8 million tonnes per annum (Mtpa) in 2025 - the largest annual increase since 2020 - bringing the total operational capacity to 74 Mtpa. A further 19.5 Mtpa reached final investment decision in 2025.

Mr Menelaos (Mel) Ydreos, the Secretary General of the International Gas Union, said:

"The Global Gas Report 2026 tells us something important about the energy system: resilience is not accidental. It is built through investment, diversity, flexibility and the ability to adapt. The global Gas system faced a major geopolitical shock in 2026. It responded more effectively than it did four years ago because the world had invested in LNG, storage, infrastructure and more diverse sources of supply.

"But resilience cannot be a destination. As electricity demand rises, AI and data centres expand, extreme weather places new pressures on energy systems and the world continues to pursue emissions reduction, we need to think carefully about the energy system we are building for the future. The question is no longer simply how much energy we will need. It is whether we will have enough reliable, affordable and increasingly low-emission energy when and where we need it."

"Energy security cannot be taken for granted. Across the last four years, the system held together not by chance, but because of the flexibility and diversification built into it over years of investment. In this environment, natural gas continues to play a crucial role, balancing the system when renewables are unavailable, safeguarding adequacy and underpinning security of supply. Continuing to invest in resilient, flexible as infrastructure allows the system to absorb unexpected shocks while remaining competitive", Snam CEO Agostino Scornajenchi commented.

"The future energy system will need to be increasingly integrated. It is time to move from energy transition - as a set of separate vectors replacing one another - to energy integration, where molecules and electrons work together to deliver the most reliable and cost-effective energy system. Looking ahead to the upcoming winter, European countries will likely have to accelerate their respective gas stocks refilling, which is essential to strengthening security of supply, reducing market volatility and protecting households and businesses from further price pressures. Energy security cannot be built in times of crisis; it is developed over time through investment, infrastructure and forward-looking decisions", he added.

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The International Gas Union (IGU) is the spokesperson of the global Gas industry, with members in over 70 countries across the globe, covering over 90% of the global Gas market across every segment of the value chain, from the supply of natural and decarbonised gas, renewable gas and hydrogen, through to their transmission and distribution, and all the way to the point of use.    

IGU presents the world's leading international Gas events, including the International Gas Research Conference (IGRC2027) series, the 30th World Gas Conference (WGC series) and the Conference and Exhibition on Liquefied Natural Gas (LNG 2029) series.

 IGU also publishes the global Gas industry's annual flagship reports: Wholesale Gas Price Survey, World LNG Report and the Global Gas Report, as well as various special reports, such as Gas For Africa, Underground Gas Storage - A Critical Pillar for Energy Security, The Role of Gas in Powering AI-Driven Energy Demand and Opportunities for the Development of Gas in Latin America and the Caribbean. IGU has also released its Manifesto.    

The IGU was established in 1931 and is a not-for-profit membership organisation registered in Switzerland and Singapore, with its Secretariat based in London, United Kingdom.   

For more information on the 2026 Global Gas Report, please contact Mr Mark McCrory, IGU Policy and Analysis Director, at [email protected] or Mr Simon Ellis, Senior Advisor, Policy & Analysis at [email protected].

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With 85 years of experience in the construction and management of natural gas infrastructure, Snam is a leading European operator in three main business areas: transportation, where it ranks first with a network extending for approximately 38,000 km in Italy and abroad; storage, with one-sixth of the entire capacity of the European Union; and regasification, where it is currently the third-largest European player, with an annual managed (or co-managed) capacity of 28 billion cubic meters.

One of the leading Italian listed companies by market capitalization, Snam ensures Italy's security of supply through its infrastructure system, enables energy integration between different sources, and promotes decarbonization projects that support competitiveness and development of businesses and communities.

For more information on the 2026 Global Gas Report, please contact Xavier Rousseau, Strategic Studies Director, at [email protected] or Vieri Maestrini, Corporate Strategy and Business Intelligence Manager, at [email protected]