Global LNG trade experienced a banner year in 2025 rising by 6.3% to reach a record volume of 437 mn tonnes, according to the International Gas Union’s World LNG Report published on July 7.

The 6.3% rise in LNG volumes traded marked the largest growth rate since 2022. North America paced the way with 25.3 mn tonnes of LNG exported in 2025.

In total 13 new LNG export terminals were added last year. Canada exported its first ever LNG cargo, while the Greater Tortue Ahmeyim project, a joint venture between Senegal and Mauritania, marked the two African countries introduction as LNG suppliers.

Investment also soared for the industry with projects with a capacity of 68.4 mn tonnes per year (tpy) of LNG approved in 2025. The figure was just shy of the record year of 2019.

The five-year investment cycle from 2021 to 2025 saw 206 mn tpy of production capacity approved, which is almost twice as much volume as from 2015 to 2020. Projects in eight new countries were also given approval, expanding the number of countries that will serve as LNG suppliers.

The sector also saw significant steps made in innovation in 2025. Last year 9.5 mn tpy of production capacity was given the green light for floating LNG projects.

In total by the end of 2025, global liquefaction capacity had reached 524.5 mn tpy, with the addition of 30.1 mn tonnes last year. The additional capacity came via the ramp-up and commissioning of Venture Global’s Plaquemines LNG, Cheniere’s Corpus Christi Stage 3, Shell’s LNG Canada, Novatek’s Arctic LNG 2, and BP’s Greater Tortue Ahmeyim project.

While 2026 has faced a number of ups and downs so far, the report also highlighted the industry’s ability to mobilise 40% of volumes on a spot basis, providing relief for contracted buyers of QatarEnergy and ADNOC affected by deliveries amid the Middle East conflict and closure of the Strait of Hormuz.