Governments can strengthen natural gas security as geopolitical and structural risks expose markets to sharper supply disruptions, the International Energy Agency said Wednesday.
The IEA said governments can combine physical reserves, flexible commercial deals and policy measures to improve gas supply resilience over the next five years.
Two major supply crises over the past five years have challenged assumptions about global gas security, the IEA's analysis found.
Russia's 2022 invasion of Ukraine sharply cut pipeline gas supplies to Europe, sending prices to record highs and reshaping global liquefied natural gas trade, the IEA said.
LNG disruptions during the 2026 Middle East conflict again exposed import-dependent economies to sudden supply risks.
The IEA said competition for limited LNG cargoes during supply shocks can drive extreme price swings and still leave some markets facing physical shortages.
Physical reserves remain a key defense, with countries able to use underground storage, LNG tanks and floating storage, although availability differs widely across regions.
Storage cannot cover every disruption, while new facilities can require years to develop and carry high upfront costs, according to the IEA.
Flexible LNG contracts, commercial innovation and broader cargo swaps could help markets redirect available supplies during emergencies without requiring major new infrastructure.
Governments can also use mandatory storage rules, strategic reserves and buffer LNG programs, while considering joint reserves, cross-border stockholding and cross-regional LNG buffers.
The IEA said countries could pool LNG call options to create emergency backstops, but each government must tailor its approach to geography, infrastructure and import dependence.
The agency urged governments to improve reserve transparency, conduct regular emergency exercises and expand international cooperation to use existing assets more efficiently.