IGU releases 2025 World LNG Report

European LNG imports declined sharply, falling 21.22 million t y/y to 100.07 million t, driven by high storage levels at the start of the year, sluggish demand, and steady pipeline flows. However, LNG demand rebounded in Asia, with China and India posting strong y/y growth in spot LNG imports, driven by heatwaves, infrastructure expansions, and greater reliance on gas-for-power.

The global LNG liquefaction capacity grew by 6.5 million tpy in 2024 to a total of 494.4 million tpy by year-end, and only 14.8 million tpy of new liquefaction capacity reached FID, the lowest annual approval volume since 2020 and well below the 58.8 million tpy greenlit in 2023. Floating LNG (FLNG) capacity also saw further expansion, with Marine XII FLNG in Congo and Altamira Fast LNG in Mexico entering operation in 2024. As of early 2025, the total operational FLNG capacity stands at 14.35 million tpy.

Menelaos (Mel) Ydreos, the Secretary General of the International Gas Union, remarked: “2024 proved to be another vibrant year for the LNG sector's rapid evolution. The trajectory of LNG growth persisted, bolstered by the introduction of two new exporting markets, while global LNG prices have eased compared to prior years. Nonetheless, this market stability remains precarious, highly influenced by significant uncertainties surrounding market and project dynamics, geopolitics, trade, and regulatory policies. Furthermore, the increasing global regulatory focus on methane emissions, particularly from the EU, Japan, and South Korea, is resulting in greater transparency and compliance obligations within the LNG trade.”

Download the report here.

Read the article online at: https://www.lngindustry.com/special-reports/23052025/igu-releases-2025-world-lng-report/