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(Reuters) – Global liquefied natural gas trade hit a record last year as strong U.S. exports and rising European imports offset weaker Asian purchases, the International Gas Union said in a report on Wednesday.
Conflict in the Middle East could lead to a contraction in 2026, however, it warned.
“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,” IGU President Andrea Stegher said.
- Global LNG trade rose 6.3% to 436.98 million metric tons in 2025, the fastest rate of growth since 2022, the IGU said in the report.
- Europe recorded the largest increase in imports, up 26.1 million tons to 126.2 million tons, as it replenished inventories and replaced lower Russian gas flows.
- Asia Pacific remained the largest LNG-importing region, receiving 168.7 million tons, though imports to Asia were down 9.2 million tons, due mainly to lower demand in China and India.
- China remained the world’s largest LNG importer at 69.77 million tons, but imports fell 8.9 million tons year-on-year.
- The report highlights diverging trends in Asia, with Chinese LNG imports down due to stronger domestic supply and higher pipeline imports from Russia, while lower production in parts of Southeast Asia boosted reliance on LNG spot purchases.
- Japan was the second-largest importer at 67.37 million tons, while South Korea increased imports by 1.7 million tons to 48.67 million tons.
- The IGU said prolonged periods of elevated LNG prices could weigh on demand growth in emerging Asian economies, particularly in South and Southeast Asia.
- Chinese LNG re-exports rose 45.8% to 0.67 million tons.
- The U.S. remained 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.
- The IGU has more than 130 members worldwide, representing more than 90% of the global gas market.
Reporting by Marwa Rashad in London and Emily Chow in Singapore; Editing by Jan Harvey
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