Global LNG trade hit record in 2025

Global liquefied natural gas trade hit a record last year as strong US exports and rising European imports offset weaker Asian purchases, the International Gas Union said in a report on Wednesday.

Conflict in the Middle East could lead to a contraction in 2026, however, it warned.

"The conflict in the Gulf has damaged LNG infrastructure, clouded the outlook for the region's expansion projects, and exposed Asian buyers to flow uncertainty and higher prices," IGU President Andrea Stegher said.

Global LNG trade rose 6.3% to 436.98 million metric tonnes in 2025, the fastest rate of growth since 2022, the IGU said in the report.

Europe recorded the largest increase in imports, up 26.1 million tonnes to 126.2 million tonnes, as it replenished inventories and replaced lower Russian gas flows.

Asia Pacific remained the largest LNG-importing region, receiving 168.7 million tonnes, though imports to Asia were down 9.2 million tonnes, due mainly to lower demand in China and India. China remained the world's largest LNG importer at 69.77 million tonnes, but imports fell 8.9 million tonnes year-on-year.

The report highlights diverging trends in Asia, with Chinese LNG imports down due to stronger domestic supply and higher pipeline imports from Russia, while lower production in parts of Southeast Asia boosted reliance on LNG spot purchases.

Japan was the second-largest importer at 67.37 million tonnes, while South Korea increased imports by 1.7 million tonnes to 48.67 million tonnes. The IGU said prolonged periods of elevated LNG prices could weigh on demand growth in emerging Asian economies, particularly in South and Southeast Asia.

Chinese LNG re-exports rose 45.8% to 0.67 million tonnes.

The US remained the world's largest LNG exporter, shipping 110.74 million tonnes, followed by Qatar with 81.51 million tonnes and Australia with 80.32 million tonnes.

The IGU has more than 130 members worldwide, representing more than 90% of the global gas market.