According to CoinMeta, the International Energy Agency (IEA) states that due to the disruptions in supply caused by the war in Iran and the intensified competition among importers, the global natural gas market is facing severe supply tensions. This year, global liquefied natural gas (LNG) production is expected to see the largest annual decline on record, with a reduction of 3%, amounting to nearly 20 billion cubic meters. The obstruction of shipping through the Strait of Hormuz, as well as Iranian attacks on key regional infrastructure, have significantly impacted exports from Qatar and the United Arab Emirates. The IEA predicts that trade flows through the Strait of Hormuz will continue to be severely disrupted until at least the end of this year. Increased production in other regions has somewhat mitigated the supply shocks, with new projects coming online in North America and Africa, as well as increased natural gas supply from existing facilities in Africa, Asia, and Russia. This has led to a 14% increase in production outside the Persian Gulf from March to October, compensating for about two-thirds of the supply losses from the Persian Gulf. However, the IEA indicates that global LNG production still decreased by about 6% during the war.