Availability

LNG is a global commodity with 22 countries exporting over 400 million tonnes per annum  (MTPA) to 49 importers, accounting for approximately 14% of worldwide gas consumption.  Market penetration is increasing in areas such as China, Latin America, the Middle East, Africa and parts of South-East Asia, with 41 import terminals and 33 expansion projects representing an additional 266 MTPA of import capacity under construction as of December 2024.

On the supply side, a major wave of LNG export capacity is scheduled to arrive in 2026, with 54 MTPA of new capacity mostly from North America (31 MTPA) and the Middle East (16 MTPA).  Between 2026 and 2028, global liquefaction capacity is forecast to increase by around 170 MTPA.  This significant capacity growth may result in price falls, sparking a surge in LNG demand from importers and also sectors such as maritime.

There are ongoing structural changes within the LNG market.  The expansion of the LNG trade has been accompanied by an increase in the number and diversity of LNG players in production and supply.  There is increased investment in LNG solutions for transportation and changes in the marketing and trading of LNG.  Small to mid-scale LNG has taken off, servicing demand from off-grid power projects as well as transportation, such as trucks, trains and ships.  The new entrants and the added competition have resulted in a more flexible approach to LNG contracting, with a growing opportunity to purchase LNG through a developing LNG bunker fuel spot market.

In 2025, analysts are forecasting that 9 million tonnes will be bunkered, which equates to around 3.5% of the total marine fuel market.