The global liquefied natural gas (LNG) market is entering a period of “deep uncertainty,” according to the International Group of Liquefied Natural Gas Importers (GIIGNL), reflecting growing concerns over volatile prices, shifting geopolitics, and uneven economic recovery in key regions.
Speaking at an industry event in Paris, GIIGNL President Anne-Sophie Corbeau said that while long-term demand for LNG remains strong, short- and medium-term forecasts are becoming harder to predict. She pointed to growing challenges from geopolitical fragmentation and economic headwinds in Asia.
GIIGNL’s annual report, also released Monday, shows that global LNG imports reached 405 million tonnes in 2024, a modest rise from 401 million tonnes in 2023. However, growth is slowing, and regional trends are diverging.
The report’s release follows the U.S. Department of Energy’s recent decision to resume approvals for LNG export projects. This move ends a freeze that had delayed billions in investment along the Gulf Coast. Despite past regulatory uncertainty, U.S. LNG exporters remain dominant, supplying nearly 30% of global LNG in 2024.
Even amid trade tensions, including Chinese tariffs on U.S. LNG, American exporters have held strong. Their flexible contract structures, competitive pricing, and access to major markets in Asia and Europe have helped them stay resilient.
In early 2025, Europe’s LNG imports declined slightly. Meanwhile, China and South Asia saw only a slow recovery in demand due to high prices and increased domestic gas production. New import terminals in Germany and India may help boost demand later this year, but analysts say buyers are still waiting for clearer policy direction before making long-term commitments.
Market observers are closely watching how flexible LNG contracts and spot-market dynamics will affect supply flows in 2026. With major producers like Qatar, the U.S., and Australia expanding capacity, competition is expected to intensify. However, no new final investment decisions (FIDs) were announced alongside GIIGNL’s latest report.
Related Topics:
- ONGC Sees Profit Drop, Plans Big Shift to Green Energy
- Rosneft Takes Over Key Rare Earths Deposit in Siberia
- Turkey’s Diyarbakır Basin Holds 6.1 Billion Barrels of Shale Oil, Says Continental