Paris [France], September 10: Governments have options available to strengthen resilience and preparedness for potential natural gas supply disruptions in the future as geopolitical risks and structural changes make global gas markets increasingly complex and susceptible to volatility, according to a new IEA report released today.
The report, Gas Reserve Mechanisms and Flexibility Options, examines how countries can improve gas supply security through a combination of physical reserves, more flexible commercial arrangements and policy mechanisms. It identifies measures that governments can implement over the next five years, alongside longer-term efforts to diversify supplies and strengthen infrastructure.
The report comes after two major gas supply crises in the past five years that challenged longstanding assumptions about the resilience of global gas markets. The sharp reduction in Russian pipeline gas supplies to Europe following war in Ukraine in 2022 triggered record prices and a major reconfiguration of global LNG trade. More recently, disruptions to LNG flows through the Strait of Hormuz during the 2026 Middle East conflict once again demonstrated the vulnerability of import-dependent economies to sudden supply shocks.
The report also examines existing policy-based reserve mechanisms that governments can deploy according to their individual circumstances, including mandatory storage obligations, strategic gas reserves and buffer LNG schemes. Among the options identified for further consideration are joint strategic reserves using existing infrastructure, cross-border stockholding arrangements, cross-regional LNG buffers and mechanisms that pool LNG call options to provide a backstop during emergencies.
The report recommends that governments deepen dialogue on gas security, improve transparency around reserves and market conditions, conduct regular emergency exercises and work together to enhance LNG market flexibility. It also proposes further examination of voluntary international reserve arrangements, drawing on relevant lessons from the IEA's longstanding oil security framework.
The report's publication comes ahead of the LNG Producer-Consumer Conference on 11 September - co‑hosted by the Japan's Ministry of Economy, Trade and Industry and the IEA - where strengthening gas and LNG supply security will be a major focus of discussions.
Source: Emirates News Agency