Global liquefied natural gas trade volumes increased 5.4% to a record 56.3 billion cubic feet per day in 2025, driven largely by expanding U.S. export capacity, according to a recent report from the International Group of Liquefied Natural Gas Importers published July 14. The surge came as the United States cemented its position as the world's dominant LNG exporter, though trade has slowed in 2026 following the closure of a key export route for Qatar, the world's second-largest supplier.
U.S. LNG exports jumped 26% to 15.1 Bcf/d in 2025, the largest increase from any country, and America's share of the global total climbed to 26%, up from 21% in 2024. The United States, Qatar, and Australia together accounted for 63% of global exports, up from 60% the previous year. Qatar posted the second-largest increase, rising 3% to 10.6 Bcf/d, while Canada entered the LNG export market at 0.3 Bcf/d after LNG Canada began operations in June. Russia saw the largest volumetric decline, falling 8% or 0.4 Bcf/d due to EU sanctions from the Ukraine invasion. Some exporters including Malaysia, Australia, and Norway reported decreases compared with 2024 because of facility maintenance.
European countries led all regions with a 29% increase in imports, adding 3.8 Bcf/d in 2025, while the continent's seven largest importers each added between 0.4 Bcf/d and 0.6 Bcf/d. Asian imports fell 4% to 35.7 Bcf/d, driven largely by a 15% drop in Chinese imports as the country expanded pipeline gas supplies and domestic production. Egypt increased imports dramatically to 1.2 Bcf/d from 0.3 Bcf/d amid a domestic supply shortage, while Bahrain and Senegal imported their first LNG cargoes, each taking in less than 0.1 Bcf/d. Imports in the Americas fell by 0.3 Bcf/d, while the Middle East and Africa remained essentially unchanged outside of Egypt, Bahrain, and Senegal.
The report forecasts U.S. LNG exports will continue climbing to 17.4 Bcf/d in 2026 and 18.6 Bcf/d in 2027, according to the Short-Term Energy Outlook. Europe's surge in imports came after the Ukraine-Russia gas transit agreement expired at the end of 2024, cutting off pipeline gas supplies and forcing the continent to rely more heavily on LNG. China's import reduction reflected a strategic shift to capture a greater share of its domestic natural gas market through pipeline imports and local production rather than expensive overseas LNG. The drop in Asian demand created room for European buyers to absorb America's export expansion.
Qatari exports have fallen sharply in 2026 due to the closure of the Strait of Hormuz since February 28, which has cut off approximately 20% of global LNG supplies. Asian buyers, who imported over 80% of Qatari volumes in 2025, are now competing on the global spot market with European buyers seeking to refill storage inventories that currently sit below the five-year average. Until LNG flows through the strait return to normal, the market faces a significant supply constraint just as U.S. capacity continues to expand and European demand remains elevated.