By Mark Jaffe, EUCI energy writer
Global liquefied natural gas (LNG) trade increased 5.4%, hitting a record 56.3 billion cubic feet per day (Bcf/d) in 2025, spurred by new export capacity in the United States, according to a report from the International Group of Liquefied Natural Gas Importers.
“The market was reshaped by a strong rebound in European demand and a new wave of Atlantic Basin supply,” the report said.
“Growth was led by the United States, where the ramp-up of Plaquemines LNG and Corpus Christi Stage 3 drove a major increase in exports.”
New supply also entered the market from the development of capacity in Canada, Mauritania/Senegal and Congo, the report said.
U.S. LNG exports were up by 26% to 15.1 Bcf/d in 2025, a bigger increase than from any other country, the federal Energy Information Administration (EIA) said. U.S. exports accounted for 26% of the global total in 2025, up from 21% in 2024.
The EIA forecasts U.S. exports increasing to 17.4 Bcf/d in 2026 and 18.6 Bcf/d in 2027.
Canada exported 0.3 Bcf/d of LNG in 2025 after Shell-led LNG Canada began operations in June from Kitimat, British Columbia.
LNG Canada’s arrival helped to offset declines in Australia and Indonesia. Up to five trains were offline at various points through September, reducing Australia’s export capacity by 13%.
Indonesian exports fell in 2025, as the government facing a domestic gas shortfall required some LNG cargoes to meet domestic demand.
The. U.S., Qatar, and Australia remained the three top LNG exporters globally, making up a combined 63% of global exports, up 3% from in 2024.
Qatar had the second-largest increase in LNG exports in 2025, rising 3% to 10.6 Bcf/d in 2025.
The U.S. war with Iran, however, in 2026 has led to the closing of the Strait of Hormuz, cutting off 20% of global LNG supplies from Qatar. Iranian drone and missile strikes also severely damaged 17% of the country’s LNG export capacity.
The sharpest drop in 2025 exports – 8% or 0.4 Bcf/d – came from Russia “as sanctions, logistics constraints, and the EU transshipment ban [due to the Russian invasion of Ukraine] weighed on output,” the gas importers group said.
“Until LNG flows through the strait return to historical norms, Asian buyers, who in 2025 imported over 80% of Qatari volumes, are competing on the global spot market with European buyers seeking to refill storage inventories, which are currently at a deficit to the five-year average,” the EIA said.
The European countries led all regions for imports, increasing 29%, or 3.8 Bcf/d, in 2025.
By contrast, imports to Asian countries fell 4% year-over-year to 35.7 Bcf/d, largely driven by a 15% drop in Chinese imports as the country relied more on pipeline gas imports and increased local production.
“Japanese LNG imports edged down marginally in 2025, declining 0.5% to 65.9 MT. The modest softening was driven primarily by the power sector, where gas ceded some share to coal, renewables, and nuclear generation,” the importers’ group said.
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