According to Bloomberg, global liquefied natural gas (LNG) exports could see their biggest increase in three years by 2025 as new supply comes online in North America.
According to Kpler, which tracks shipping data, this year’s exports are projected to increase by 4% compared to last year, reaching 429 million tons. The data indicates this will be the largest annual growth since 2022, when exports rose by 4.5% year-on-year. The increase is primarily driven by capacity expansions at projects such as Canada’s LNG initiative and the U.S. Prairie Plains project.
The United States is steadily consolidating its position as a major exporter and is poised to become the first nation to surpass 100 million tons in annual LNG exports this year. The country’s supply is expected to continue growing, with production set to double by 2030, further fueling export expansion. This surge could push down natural gas prices in Asia and Europe. Asian prices are already nearing one-year lows, while European futures have fallen more than 40% since the start of the year.
Additional production capacity may further boost demand for LNG carriers. Last month, transatlantic LNG shipping costs climbed to a two-year high as surging supply spurred demand for LNG carriers.
According to Kpler data, December exports are projected to hit a record high of approximately 41 million tons. China, Japan, and South Korea remain the world’s largest buyers, tied for the top spot this year, though China’s total imports have declined by about 15% compared to 2024.
Egypt’s LNG imports have continued to grow since the country became a net importer last year. The nation is projected to import approximately 8.9 million tons of liquefied natural gas this year, marking a more than threefold increase from last year.
Bloomberg Intelligence noted in its report that global LNG trade is expected to maintain a growth rate of 7.5% to 8% next year, driven by a new wave of supply and lower prices stimulating demand.