# Iran War and AI Boom Drive Global Gas Supply Crunch

> Asian LNG prices have more than tripled this year, with the Japan-Korea Marker topping $31/MMBtu and briefly exceeding $33, compared with about $9 in January. The Iran war has removed an estimated 60 billion cubic metres of LNG supply, and the IEA forecasts a record 3% decline in global gas production this year. QatarEnergy has extended its force majeure on LNG exports, and the tightness is expected to persist into 2027.

- Date: 2026-11-04 · published 2026-11-05T00:08:03.441Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/80649-iran-war-and-ai-boom-drive-global-gas-supply-crunch
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Lost Qatari LNG keeps Asian and European buyers competing for limited cargoes, which supports natural gas prices. Gas is also a key input for nitrogen fertiliser, so higher gas costs feed into urea and feed-cost pressure.

## Read by commodity

- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2026-04-01 | [How the Iran War Is Disrupting Global Oil and Gas Supply](https://feedsoft.ai/events/20364-how-the-iran-war-is-disrupting-global-oil-and-gas-supply.md) | -4.5% | -9.0% |
| NATGAS | 2026-04-24 | [Middle East crisis disrupts international natural gas markets and delays global LNG supply wave - IEA](https://feedsoft.ai/events/19907-middle-east-crisis-disrupts-international-natural-gas-markets-and-delays-global.md) | +2.7% | +17.0% |
| NATGAS | 2026-03-03 | [Global oil and gas prices soar as Iran crisis disrupts shipping, production \| Reuters](https://feedsoft.ai/events/8777-global-oil-and-gas-prices-soar-as-iran-crisis-disrupts-shipping-production.md) | +7.0% | -3.1% |
| NATGAS | 2026-09-23 | [Global gas market pricing prolonged tightness due to Iran war, IGU executive says - CNA](https://feedsoft.ai/events/17646-global-gas-market-pricing-prolonged-tightness-due-to-iran-war-igu-executive.md) | +5.5% | +3.4% |
| NATGAS | 2026-04-01 | [Asia LNG Imports Drop Most Since 2022 as Iran War Upends Supply - Bloomberg](https://feedsoft.ai/events/19911-asia-lng-imports-drop-most-since-2022-as-iran-war-upends-supply-bloomberg.md) | -4.5% | -9.0% |

## Sources

- oilprice.com: https://oilprice.com/Energy/Natural-Gas/Iran-War-and-AI-Boom-Drive-Global-Gas-Supply-Crunch.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.