The 2026 conflict involving Iran has severely disrupted the global natural gas market by closing vital shipping routes and halting major production, according to the authors of the newly released report. These events have caused prices to spike suddenly, exposing the economic dangers for regions that rely heavily on these overseas energy imports.
As the report notes, “Qatar’s massive Ras Laffan LNG complex was shut down on March 2 due to a drone attack, and shipping activity through the strait has ground to a halt.” These disruptions have had immediate market effects, with “futures for the JKM spot price jumping 40% as of early March.”
In simple terms, a large amount of the world’s fuel supply is currently blocked because a key narrow waterway used by tankers is unsafe for travel. When a major producer like Qatar is forced to stop exporting its product, the amount of gas available to the world drops, which quickly drives up the cost for any country trying to buy it on short notice.
The briefing ‘Southern Asia’s gas plans may be overblown’ was released by Global Energy Monitor in March 2026. Prepared by authors Robert Rozansky and Julie Joly, the report analyzes how geopolitical shocks and falling renewable costs are undermining ambitious gas infrastructure projects across India, Pakistan, and Bangladesh.
