BAKU, Azerbaijan, July 23. Global liquefied natural gas (LNG) supply grew by 4% in the first half of 2025, supported largely by new production in the United States, according to the International Energy Agency (IEA), Trend reports.
The start-up of the Plaquemines LNG facility in Louisiana, which began operations in late 2024, accounted for nearly two-thirds of the 12 billion cubic meters (bcm) in added global LNG output during the first six months of the year.
The growth in LNG supply helped offset a sharp drop in Russian pipeline gas deliveries to the European Union, which fell by 45% (6.5 bcm) year-on-year after the halt of gas transit through Ukraine at the beginning of 2025. Norway’s piped gas exports to Europe also declined by 4.5% amid maintenance-related disruptions.
The EU ended the 2024/25 heating season with storage inventories significantly below the previous year, prompting a surge in refilling activity. Storage injections rose 36% year-on-year in the second quarter, while piped gas exports to Ukraine climbed more than twelvefold to support storage needs.
As a result of stronger storage demand, lower pipeline imports, and firm consumption, European LNG imports jumped 25% to a record 92 bcm in the first half of 2025. The tight global gas balance also led to higher prices, with European hub and Asian LNG spot prices up 40% and 28%, respectively, compared to the same period last year. These price increases dampened demand in several price-sensitive Asian markets.
For the full year, the IEA expects global LNG supply to rise by 5.5% (30 bcm), supported by the ramp-up of major projects in North America, including the Corpus Christi Stage 3 expansion and LNG Canada. However, these gains will be partially offset by continued declines in Russian piped gas exports, which are not forecast to resume via Ukraine in 2025.
Looking ahead to 2026, LNG supply growth is projected to accelerate to 7% (40 bcm), the fastest pace since 2019, with new volumes expected from the U.S., Canada, and Qatar’s North Field East project. The IEA does not include Russia’s Arctic LNG 2 project in its supply forecast, citing the ongoing impact of sanctions.
