LNG Demand Surges as US Leads Project Growth and Export Terminal Investments

Global demand for liquefied natural gas (LNG) carriers is expected to be stronger than previously forecast over the next decade, driven by a surge in final investment decisions for new export terminals. French engineering firm Gaztransport & Technigaz SA raised its forecast for orders for LNG carrier gas containment system design to about 550 units between 2026 and 2035, up from its previous estimate of more than 450.

The increase is attributed to the 'strong acceleration of investment in liquefaction capacities, notably in the U.S.', according to GTT Chief Executive Officer Francois Michel. In 2025, 84 million tons per year of new LNG capacity received final investment decisions, followed by another 37 million tons in the first half of 2026.

LNG demand is being driven by growing Asian gas consumption and a shift away from Russian pipeline gas in Europe. U.S. President Donald Trump has also advocated for more exports of LNG to the continent.