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World LNG Report 2025: LNG trade continues to grow, requiring increased global decarbonisation efforts

According to the IGU, global LNG trade grew by 2.4% in 2024, connecting 22 exporting with 48 importing markets. With increasing global regulatory focus on methane emissions, particularly from the EU, Japan, and South Korea, decarbonising the LNG supply chain is a priority. 

Every year, the International Gas Union (IGU) publishes its World LNG Report, a comprehensive public source of information on key developments and trends in Liquefied Natural Gas (LNG). According to the 2025 edition, global LNG trade grew by 2.4% between 2023 and 2024 to 411.24 million tonnes (MT) [1]. In 2024, the global LNG trade was connecting 22 exporting markets with 48 importing markets.

 

LNG exports in 2024 

 

Asia-Pacific remained the leading exporting region in 2024 with 138.91 MT – adding 4.10 MT over 2023. The Middle East continued as the second-largest exporter with 94.25 MT, despite a 0.44 MT decrease from the previous year. North America ranked third, with exports rising by 4.11 MT to reach 88.64 MT. 

The overall growth in exports in 2024 was mainly driven by the United States (+3.89 MT), Russia (+2.16 MT), and Indonesia (+2.02 MT). The US became the largest LNG exporter in 2023, with 84.53 MT. 

Mexico and Congo joined the ranks of LNG exporters in 2024 with new floating LNG (FLNG) production. 

 

LNG imports in 2024 

 

Asia-Pacific remained the largest importing region in 2024 with 165.09 MT of imports in 2024 (versus 155.32 MT in 2023). The region comprises of large LNG importers such as Japan, South Korea, and Chinese Taipei, as well as the medium-sized LNG markets of Thailand, Indonesia, Singapore, and Malaysia. 

In 2024, China remained the world’s largest LNG importer with imports rising by 7.45 MT to 78.64 MT, followed by India (+4.19 MT). Year-on-year growth in LNG imports in China and India was driven by heatwaves, infrastructure expansions, and greater reliance on gas-for-power. 

In Europe, LNG imports declined over ample storage at the beginning of the year, sluggish natural gas consumption, and strong pipeline gas flows from Norway and Russia. Consequently, European LNG imports fell by 21.22 MT over 2023, marking 100.07 MT in 2024. 

 

LNG liquefaction capacity in 2024 

 

In 2024, a total 6.5 million tonnes per annum (MTPA) of liquefaction capacity was brought online to reach a global total of 494.4 MTPA. 

 

LNG carriers in 2024 

 

The global LNG carrier fleet grew by 7.5% from 2023 to 2024, with the delivery of 64 carriers in 2024. There were 742 active LNG vessels at the end of February 2024, including 48 floating storage and regasification units (FSRUs) and ten floating storage units (FSUs). 

 

LNG Greenhouse Gas Emission Reduction Measures 

 

LNG contributes to global decarbonisation by replacing more emissions-intensive energy carriers, and newer LNG projects and carrier vessels implement innovative technologies to reduce emissions. 

Some LNG importers have taken steps to regulate methane emissions to spur action on methane mitigation and strengthen GHG emission regulations. The EU’s methane regulation affects domestic production as well as imports [2], while Japan and South Korea are seeking transparency from the LNG industry on methane emissions through their CLEAN initiative. 

 

With increasing global regulatory focus on methane emissions, decarbonising the LNG supply chain is a priority. The carbon footprint of LNG plants is primarily attributed to three sources: first, the CO2 produced during the preliminary treatment of sour gas in the upstream phase; second, the CO2 emitted by gas turbines that generate power for the liquefaction process; and third, the CO2 released during the generation of electricity for the operation of the remaining facilities. 

 

Initiatives to reduce emissions include the use of renewable energy sources to power liquefaction operations, electric motor-driven trains, integrating carbon capture and storage (CCS), and alternative fuels like e-methane. Norway’s Hammerfest LNG (1 MTPA of CCS) pioneered carbon capture and storage (CCS) implementation in 2008, while Australia’s Gorgon LNG (4 MTPA of CCS) and Qatar’s Ras Laffan Complex (2 MTPA of CCS) have been operating since 2019. The Moomba CCS facility in Australia (2 MTPA of CCS) started operations in 2024. 

 

Bio-LNG and liquefied e-methane mitigate emissions by replacing natural gas with renewable or synthetic natural gas, respectively. Chemically identical to fossil-origin natural gas, both technologies are entirely inter-operable with existing infrastructure and can support the decarbonisation of hard-to-abate sectors like shipping and industry. 

A global ‘e-NG’ coalition of companies from various sectors has been formed to support the role of e-methane in the energy transition. According to the IGU, for both bio-LNG and liquefied e-methane, price competitiveness will be the key challenge for project developers. 

 

 

The full report is available for download on the IGU website.   

 

For a summary of the LNG global trade in 2023, please read our previous post.  

 

 

Did you know? The IIR released an Informatory Note on liquefied natural gas (LNG), prepared by Philip Hagyard (Member of IIR Commission A2 “Liquefaction and separation of gases”). 
Liquefied natural gas: an essential cryogenic industry at the heart of the energy transition   

 

 

Sources 

[1] IGU. 2025 World LNG Report. https://www.igu.org/igu-reports/2025-world-lng-report  

[2] Kim Talus, Gunnar Steck, James Atkin, EU Methane Regulation and its impact on LNG imports, The Journal of World Energy Law & Business, Volume 18, Issue 1, February 2025, jwae022, https://doi.org/10.1093/jwelb/jwae022