The International Group of Liquefied Natural Gas Imports (GIIGNL) has published its 2025 Annual Report.
This comprehensive document provides detailed statistics and analyses of our industry for 2024.
- Flat growth, shifting flows: Global LNG trade rose just +1% to 406 million t, but this masks significant regional shifts in both demand and supply patterns.
- Spot and short-term fell to 146 million t, making up 36% of total imports (vs 39% in 2023), as market players turned back to long-term supply amid volatility.
- LNG imports to Europe plunged 19%, the sharpest on record, with other regions – especially Asia – compensating for the decline.
- Asia drives growth: China and India showed strong buying momentum, posi-tioning Asia as the core source of incremental LNG demand.
- Switch in exports from the Atlantic basin that showed stability as volumes from Egypt and Algeria fell, while the US, Norway, and Russia stepped in.
- Additional supply came from Pacific Basin exporters like Indonesia, Malaysia, and Mozambique, while the UAE contributed from the Middle East.
- Global liquefaction capacity accelerated in 2024, reaching 492 million tpy, with additions rising to 10.5 million tpy compared to only 4 million tpy in 2023. Four final investment decisions (FIDs), totalling 14 million tpy, were taken during the year.
- LNG carrier fleet grew to 831 ships, with 66 new vessels delivered during the year.
- Global regasification capacity reached 1188 million tpy in 2024, supported by 12 new terminals or expansions. The annual increase was +49 million tpy, marking a deceleration.