Member Corner
Abu Dhabi, United Arab Emirates | 3 November 2026 – The Secretary General of the Gas Exporting Countries Forum (#GECF), H.E. Dr Philip Mshelbila, participated on the Strategic Panel “Scaling LNG Supply: Absorbing 300 bcm of New Capacity in a Volatile Market”, held during #ADIPEC 2026. He was joined by Dr Ir. Djoko Siswanto, Chairman of SKK Migas, in a discussion moderated by Mr Malcolm Moore, Energy Editor of the Financial Times.
Reflecting on the 2026 disruption in the Strait of Hormuz, H.E. Dr Mshelbila said the impact could have been much worse. Between January and September, around 45 million tonnes of #LNG did not reach the market, yet close to 39 million tonnes were replaced through new capacity, deferred maintenance and the ramp-up of upstream production into spare liquefaction capacity. This shows the resilience of the natural gas system, while also revealing vulnerabilities that must be addressed.
On demand, the Secretary General noted that the longer the disruption lasts, the more likely its effects become structural and enduring, as some price-sensitive customers cut demand, switch to alternative fuels or put in place diversified sources and routes of supply. Even so, natural #gas has a long runway due to its intrinsic qualities. On the expected supply glut, he said the disruption has pushed back the expected oversupply, perhaps by a couple of years with the market rebalancing by the early 2030s. With around 200 Mtpa of new regasification capacity being built by 2030, Asia Pacific is gearing up to become the next LNG market.
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