Global investment in natural gas projects is set to rise by more than 10% this year to $330 ​B, its highest level in 10 yrs, while upstream oil ‌spending declines for a third straight year, the International Energy Agency (IEA) said in a report.

As global energy markets remain disrupted by the Iran war, which ​has halted tanker traffic through the Strait of Hormuz and ​caused production stoppages across the Middle East, companies are accelerating ⁠investment in other geographies and boosting spending on renewables, LNG ​and coal to shore up supply security.

"We are already seeing intensified efforts ​by both producer and consumer countries to diversify trade routes and energy sources," IEA Director Fatih Birol said in a statement.

The IEA's World Energy Investment 2026 ​report says:

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