Global LNG Trade Hits Record High as Middle East Conflict Looms

The global liquefied natural gas (LNG) trade reached a record high in 2025, driven by strong US exports and rising European imports that offset weaker Asian purchases. According to the International Gas Union (IGU), global LNG trade rose 6.3% to 436.98 million metric tons last year, the fastest rate of growth since 2022.

The IGU warned that conflict in the Middle East could lead to a contraction in 2026, with damage to LNG infrastructure and uncertainty over supply chains affecting Asian buyers. European imports surged by 26.1 million tons to 126.2 million tons, as countries replenished inventories and replaced lower Russian gas flows.

Asia Pacific remained the largest LNG-importing region, but imports to Asia fell 9.2 million tons due to lower demand in China and India. The US was the world's largest LNG exporter, shipping 110.74 million tons, followed by Qatar with 81.51 million tons and Australia with 80.32 million tons.

IGU President Andrea Stegher noted that prolonged periods of elevated LNG prices could weigh on demand growth in emerging Asian economies, particularly in South and Southeast Asia.