Roughly 20 % of the 110 billion cubic metres of LNG that flowed through the Strait of Hormuz last year vanished in waste, the IEA revealed. Methane leaks and unnecessary flaring double the loss, turning a critical supply corridor into a source of emissions and lost revenue for producers and importers alike, and a hit on global gas prices.

By capturing methane, the IEA estimates 100 billion cubic metres could be freed each year, while eliminating non‑emergency flaring would unlock another 100 bcm. Together, those measures could supply enough gas to heat 750,000 Western homes for a year, easing supply pressure as the Middle East remains volatile and reduce greenhouse gas emissions across the sector today.

Tim Gould, IEA chief energy economist, warned that methane and flaring not only fuel climate change but also deprive markets of usable gas. Fixing pipeline leaks, replacing faulty equipment and capturing gas instead of flaring could release 15 billion cubic metres quickly, offering immediate relief to tightening markets and supporting energy security during the current crisis.

These findings will be presented at a Paris methane summit convened by France’s G7 presidency. Meanwhile, the EU faces pressure to loosen upcoming January 2027 methane import monitoring rules, while the UN’s latest satellite data pinpoint 17 major leaks at oil and gas sites that could yield 1 bcm of recoverable gas—a potential game‑changer for supply and emissions across the industry.