Global liquefied natural gas (LNG) trade reached a record level in 2025 as rising US exports and increased European imports offset weaker demand from major Asian buyers, according to a report by the International Gas Union (IGU).
Global LNG trade increased 6.3% to 436.98 million metric tons last year, marking the fastest annual growth rate since 2022, the IGU said. However, the organisation warned that conflict in the Middle East could disrupt supply and lead to a contraction in global LNG trade in 2026.
“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,” said IGU President Andrea Stegher.
Europe recorded the largest increase in LNG imports in 2025, adding 26.1 million tons to reach 126.2 million tons. The rise came as European countries rebuilt gas inventories and continued replacing reduced supplies of Russian pipeline gas.
Despite Europe’s increase, the Asia-Pacific region remained the world’s largest LNG-importing market, receiving 168.7 million tons during the year. However, regional imports declined by 9.2 million tons, largely due to weaker demand from China and India.
China remained the world’s biggest LNG importer, receiving 69.77 million tons in 2025. However, its purchases declined by 8.9 million tons compared with the previous year.
The IGU report highlighted differing trends across Asia. China’s LNG demand weakened due to stronger domestic gas production and increased pipeline imports from Russia. Meanwhile, lower natural gas output in parts of Southeast Asia increased dependence on LNG spot markets.
Japan was the second-largest LNG importer globally, purchasing 67.37 million tons, while South Korea increased its imports by 1.7 million tons to 48.67 million tons.
The IGU warned that continued periods of high LNG prices could slow demand growth in emerging Asian economies, particularly in South and Southeast Asia, where energy consumption is expanding but affordability remains a concern.
China’s LNG re-exports also increased, rising 45.8% to 0.67 million tons, reflecting changes in regional gas trade flows.
On the supply side, the United States remained the world’s largest LNG exporter, shipping 110.74 million tons in 2025. Qatar ranked second with exports of 81.51 million tons, followed by Australia with 80.32 million tons.
The IGU said geopolitical uncertainty, particularly in the Middle East, could create further risks for LNG markets by affecting infrastructure, investment decisions and supply reliability.
The organisation, which has more than 130 members representing over 90% of the global gas market, said future LNG growth would depend on balancing rising energy demand with supply security and price stability.
