The Second Shock: US LNG and the Global Natural Gas Stalemate

The Second Shock: US LNG and the Global Natural Gas Stalemate

From NGI’s Hub & Flow by NGI: Natural Gas Intelligence

April 30, 2026 · 21 min · Episode 192

About this episode

This episode discusses the impact of the ongoing Iran war on the global LNG market and the challenges facing US LNG exports.

The global energy market continues to grapple with its second major shock of the decade as the Iran war, which began in late February, stretches into an indefinite stalemate. With critical LNG production offline in Qatar and the Strait of Hormuz still closed, the world faces a natural gas supply void that has sent global benchmarks soaring while leaving the market skeptical of a quick resolution. In this episode of Hub & Flow, NGI managing editor of LNG Jamison Cocklin joins the podcast to break down the new normal for natural gas. From the technical hurdles of repairing damaged liquefaction trains in the Middle East to potential knock-on effects for US LNG, Cocklin assesses whether North American exports can truly fill the global gap. This episode explores the long-term shifts in LNG's role and how this latest wave of volatility could push North American projects toward final investment decisions.

People in this episode

Guest: Jamison Cocklin

Topics covered

  • LNG production
  • global energy market
  • natural gas supply
  • US LNG exports
  • market volatility
  • investment decisions

Keywords

  • LNG
  • natural gas
  • Iran war
  • Qatar
  • US exports
  • market volatility
  • investment decisions

Mentioned in this episode

Organizations: NGI

Places: Qatar, Strait of Hormuz, United States

More episodes of NGI’s Hub & Flow

Explore listener stats, chart rankings, contacts and more on the NGI’s Hub & Flow podcast page.