The 98th Academy Awards, commonly known as the Oscars, concluded in Hollywood, California, on 15 March. This year’s ceremony was both history-making and record-breaking. The record for the most Oscar nominations received by a single film, which previously stood at 14, was broken by Ryan Coogler’s Sinners, a vampire horror film starring Michael B. Jordan.1 The film was nominated for 16 awards and went on to win four, including Best Actor in a Leading Role. Additionally, Emma Stone, aged 37, broke the record for the youngest woman to earn seven Oscar nominations, overtaking Meryl Streep, who was 38.2 The show also saw its fair share of ‘firsts’, with Jessie Buckley becoming the first Irish winner of best actress for her role in Chloe Zhao’s Hamnet.2
In other news, the Northern Hemisphere celebrated the Spring Equinox on 20 March. Many will be glad to shake the frost of winter as Easter weekend falls in early April, and keen runners prepare for the Boston Marathon and London Marathon, which will take place on 20 April and 26 April, respectively.
Warmer weather will also be welcomed by gas consumers globally as gas prices soar to a 13-month high, owing to ongoing conflict in the Middle East.3 War in the region has impeded energy trade flows through the Strait of Hormuz and attacks on energy infrastructure are impacting energy security and affordability across the globe. The International Energy Agency has noted that global supply of LNG has been reduced by around 20%, and that the disruption of transit through the Strait has suppressed LNG supplies from Qatar and the UAE by over 300 million m3/d since 1 March.4 Europe is now facing its second energy crisis in the past five years as prices are pushed higher and Asian buyers outbid Europe for limited LNG shipments.
Prior to conflict in the Middle East, analysis from Wood Mackenzie highlighted that global LNG supply was expected to grow by 35 million t in 2026. However, recent attacks on Qatar’s Ras Laffan Industrial City have caused extensive damage, expected to take between 3 – 5 years to repair.5 Wood Mackenzie notes that disruptions could push annual global supply into y/y decline.
Asia has been particularly impacted by obstructed imports, and it is expected that Asian LNG demand will now contract.6 Analysts highlight that Asian utilities, particularly those in Bangladesh, the Philippines, and Thailand, are increasing coal-fired power generation in attempts to minimise costs and safeguard energy supply as LNG shipments are diminished and prices surge, dampening LNG demand in the region.6
In this issue, a regional report from the Center on Global Energy Policy explores Asia, focusing particularly on the future of LNG within China’s energy mix. This issue also features articles discussing the rise of bio-LNG, bunkering and infrastructure, and more – crucial topics as energy security is magnified on a global stage once more. Luckily, LNG Industry will be providing updates through it all as global energy markets wait with bated breath for a resolution in the Middle East.
References
- YOUNGS, I., ‘Vampire film Sinners breaks Oscar nominations record’, BBC News, (22 January 2026), www.bbc.co.uk/news/articles/cz0ppdjmjy9o
- MCINTOSH, S., ‘Winners, Sinners, and record breakers: 17 fun facts about this year’s Oscars’, BBC News, (13 March 2026), www.bbc.co.uk/news/articles/c1je21lgn5zo
- ‘Middle East Conflict Impact on Energy Markets and Projects – Will High Gas Prices Result in Regulatory Change?’, (23 March 2026), Watson Farley & Williams, www.wfw.com/articles/middle-east-conflict-impact-on-energy-markets-and-projects-will-high-gas-prices-result-in-regulatory-change/
- ‘The Middle East and Global Energy Markets’, International Energy Agency, www.iea.org/topics/the-middle-east-and-global-energy-markets
- ‘Ras Laffan attacks fundamentally reshape global LNG outlook as recovery timeline likely significantly extended’, Wood Mackenzie, (19 March 2026), www.woodmac.com/press-releases/new-page6
- VARADHAN, S., CHOW, E., and SHAHID, A., ‘Asia pivots to coal as Middle East conflict chokes LNG supply’, (17 March 2026), Reuters, www.reuters.com/sustainability/boards-policy-regulation/asia-pivots-coal-middle-east-conflict-chokes-lng-supply-2026-03-17
