In its annual energy outlook released on Wednesday, the Paris-based organization said an “unprecedented” 300 billion cubic metres of liquefied natural gas export capacity will come online by 2030. That’s about half the volume of the current LNG market, and according to one of the IEA’s scenarios, will drag down international prices. (The Logic)

Talking point: The IEA’s models remain a key resource underpinning the global energy picture. Its forecast comes as Canada’s federal government looks to fast-track LNG projects in an effort to diversify its natural gas sector and help producers reach Asia, where they can fetch higher prices. While prices are likely to drop due to a wave of new supply, the agency said, lower prices could also fuel higher natural gas demand in India and parts of South Asia. The IEA also predicted in its outlook that global oil demand could rise in coming years amid slower EV adoption.