Global LNG trade record 2025
Analysis based on 14 articles · First reported Jul 07, 2026 · Last updated Jul 15, 2026
The record LNG trade and US export growth signal strong global demand and a shift in supply dynamics, benefiting US LNG producers. However, the Strait of Hormuz closure creates supply uncertainty and price volatility, particularly for Asian and European buyers competing for spot cargoes.
Global LNG trade volumes reached a record high in 2025, rising 5.4% to 56.3 billion cubic feet per day (Bcf/d), driven largely by a 26% surge in US LNG exports to 15.1 Bcf/d, according to the US United States — Energy Information Administration (EIA). The US, Qatar, and Australia remained the top three exporters, accounting for 63% of global exports. Canada entered the export market with 0.3 Bcf/d after Canada began operations in June 2025. However, Qatari exports have declined in 2026 due to the closure of the Strait of Hormuz since February 28, cutting off about 20% of global LNG supplies. European imports rose 29% to 3.8 Bcf/d, driven by the expiry of the Ukraine-Russia gas transit agreement, while Asian imports fell 4% as China reduced imports by 15% by boosting pipeline gas and domestic production. Russian exports fell 8% due to EU sanctions. Egypt, Bahrain, and Senegal increased or started imports.
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