In operation: the Nigerian LNG project is owned by a joint venture between Nigerian National Petroleum Corporation, Shell, TotalEnergies and Eni Photo: REUTERS/SCANPIX

IEA: Global gas supply hit by slow pace of new project sanctions, LNG outages and delays

Upstream investment not keeping pace with agency's scenarios

31 January 2022 10:38 GMT Updated 1 February 2022 14:59 GMT

By Amanda Battersby

in London

Supply constrictions caused by liquefied natural gas project capacity outages and upstream underperformance contributed to a rapid tightening of the global gas market in 2021, according to the International Energy Agency (IEA).

LNG supply outages broke records in 2021 and project delays could be especially severe in 2024, the IEA said in its “Gas Market Report Q1-2022" released Monday.

Some of the LNG outages were attributed to temporary unplanned issues and disruption to maintenance schedules caused by Covid-19 and the knock-on effects of the pandemic in 2020.

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