The Global Gas Report 2026, released by the International Gas Union (IGU), Snam and Rystad Energy, says global natural gas demand reached a record 4,202 billion cubic metres (bcm) in 2025, while supply hit a record 4,147 bcm and LNG net imports 580 bcm. Demand is projected to fall by 7 bcm in 2026, mainly due to supply disruptions and higher prices linked to the Strait of Hormuz crisis. Asia and Africa were hit hardest by costlier LNG, while North American demand may rise by 10 bcm. In India, peak electricity demand touched a record 271 GW in May 2026, raising use of gas-based power plants.