Global LNG Trade Hits Record High as U.S. Expands Export Lead

Global LNG trade climbed to a record 56.3 billion cubic feet per day in 2025 as U.S. exports surged 26%, while Europe's LNG imports jumped and Strait of Hormuz disruptions reshaped global gas markets.

(P&GJ) — Global liquefied natural gas (LNG) trade reached a record 56.3 billion cubic feet per day in 2025, a 5.4% increase from the previous year, driven primarily by expanding U.S. export capacity, according to the International Group of Liquefied Natural Gas Importers (GIIGNL).

The United States strengthened its position as the world's largest LNG exporter, increasing shipments 26% to 15.1 billion cubic feet per day in 2025. U.S. exports accounted for 26% of global LNG trade, up from 21% a year earlier, while the United States, Qatar and Australia together supplied nearly two-thirds of the world's LNG exports.

The Energy Information Administration (EIA) expects U.S. LNG exports to continue growing, forecasting exports of 17.4 billion cubic feet per day in 2026 and 18.6 billion cubic feet per day in 2027 as new liquefaction capacity enters service.

Qatar remained the second-largest LNG exporter, increasing exports 3% to 10.6 billion cubic feet per day in 2025. However, LNG flows from the country have declined this year following the closure of the Strait of Hormuz, a key export route that previously handled roughly one-fifth of global LNG supplies. The disruption has tightened the spot market as Asian buyers compete with Europe for available cargoes.

Several exporters, including Australia, Malaysia and Norway, reported lower exports because of maintenance activities. Russia posted the largest decline by volume, with LNG exports falling 8%, largely due to the effects of European sanctions.

On the demand side, Europe recorded the largest increase in LNG imports, with volumes rising 29% (3.8 billion cubic feet per day) in 2025 after the expiration of the Ukraine-Russia natural gas transit agreement reduced pipeline supplies. Europe's largest LNG importers each increased purchases by between 0.4 billion cubic feet per day and 0.6 billion cubic feet per day.

Asian LNG imports, by contrast, declined 4% to 35.7 billion cubic feet per day, largely because China reduced LNG purchases by 15% while relying more heavily on domestic production and pipeline gas.

Egypt also sharply increased LNG imports, raising purchases from 0.3 billion cubic feet per day in 2024 to 1.2 billion cubic feet per day in 2025 to offset domestic supply shortages. Bahrain and Senegal imported their first LNG cargoes during the year.

According to the EIA, global LNG trade growth slowed in 2026 as the Strait of Hormuz disruption constrained exports from Qatar, forcing buyers to seek alternative supplies and increasing competition for spot cargoes.