Global liquefied natural gas (LNG) trade reached a record high of 436.98 million metric tonnes in 2025, marking a 6.3% increase from the previous year, according to a report released on Wednesday by the International Gas Union (IGU). This growth, the fastest since 2022, was fueled by robust US exports and rising European imports, which offset weaker demand in Asia.
Record Growth Amid Regional Shifts
The IGU report highlights that Europe recorded the largest increase in imports, rising by 26.1 million tonnes to 126.2 million tonnes, as countries replenished inventories and compensated for reduced Russian gas flows. In contrast, the Asia Pacific region, while remaining the largest LNG-importing area with 168.7 million tonnes, saw a decline of 9.2 million tonnes, primarily due to lower demand in China and India.
China retained its position as the world's top LNG importer at 69.77 million tonnes, but imports fell by 8.9 million tonnes year-on-year. The report attributes this drop to stronger domestic gas supply and higher pipeline imports from Russia. Meanwhile, lower production in parts of Southeast Asia increased reliance on LNG spot purchases, highlighting diverging trends across the region.
Key Importers and Exporters
Japan remained the second-largest importer with 67.37 million tonnes, while South Korea increased imports by 1.7 million tonnes to 48.67 million tonnes. The IGU warned that 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 surged 45.8% to 0.67 million tonnes.
On the export side, the United States held its lead as the world's largest LNG exporter, shipping 110.74 million tonnes. Qatar followed with 81.51 million tonnes, and Australia shipped 80.32 million tonnes.
Middle East Conflict Threatens 2026 Outlook
The IGU cautioned that conflict in the Middle East could lead to a contraction in LNG trade by 2026. IGU President Andrea Stegher stated, "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."
The IGU, which has more than 130 members worldwide representing over 90% of the global gas market, emphasized that these geopolitical tensions could disrupt supply chains and affect future trade volumes.
