
Study Period | 2020 - 2030 |
Base Year For Estimation | 2024 |
Forecast Data Period | 2025 - 2030 |
CAGR | 6.75 % |
Fastest Growing Market | South America |
Largest Market | Asia-Pacific |
Market Concentration | Low |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
Liquefied Natural Gas (LNG) Market Analysis
The LNG Market is expected to register a CAGR of 6.75% during the forecast period.
The global LNG industry is experiencing significant transformation driven by evolving energy security concerns and infrastructure development initiatives. Major capacity expansion projects are reshaping the supply landscape, with Qatar's North Field East Project representing a landmark USD 28.75 billion investment that will boost the country's LNG production capacity to 110 MTPA by 2025. This expansion, coupled with similar initiatives in other regions, reflects the industry's robust response to growing global energy demands and the transition toward cleaner fuel sources.
The LNG infrastructure landscape continues to evolve with substantial investments in both liquefaction and regasification facilities worldwide. As of the latest industry data, over 108 MTPA of new liquefaction capacity is under construction globally, demonstrating the industry's commitment to meeting future demand. The development of floating storage and regasification units (FSRUs) has emerged as a particularly significant trend, offering flexible and cost-effective solutions for emerging markets to access LNG supplies. These developments are complemented by innovations in LNG containment systems and transportation technologies.
The LNG shipping sector has witnessed remarkable growth and technological advancement, with the global fleet now comprising 642 vessels, including specialized carriers and FSRUs. The industry is increasingly adopting more efficient propulsion systems and environmentally friendly technologies, with new vessels featuring advanced containment systems and reduced boil-off rates. This evolution in shipping capabilities has been crucial in supporting the growth of spot and short-term LNG trading, which has become an increasingly important component of the global LNG market.
Commercial frameworks in the LNG industry are undergoing significant transformation, with a notable shift toward more flexible trading arrangements and innovative pricing mechanisms. The market has seen a rise in spot and short-term transactions, accounting for an increasing share of global LNG trade volumes. This trend is supported by the emergence of new trading hubs and the development of sophisticated risk management tools, enabling market participants to better navigate price volatility and optimize their portfolios. The industry is also witnessing increased integration of digital technologies and automation in trading and operations, enhancing efficiency and transparency across the value chain.
Liquefied Natural Gas (LNG) Market Trends
Rising Number of LNG-Fueled Fleet
The maritime industry has witnessed a significant shift towards LNG-fueled vessels, driven by both environmental considerations and operational advantages. As of 2020, there were 204 LNG-fueled ships in operation, excluding the dedicated LNG carrier fleet of 642 vessels, with an additional 294 ships on order. This remarkable growth in LNG-fueled vessels can be attributed to the proven and commercially viable nature of LNG as a marine fuel, offering substantial advantages in meeting increasingly stringent emission regulations while maintaining operational efficiency.
The expansion of LNG bunkering infrastructure and services has played a crucial role in supporting this transition. Ports worldwide are actively developing LNG fueling facilities, while the deployment of LNG bunker tankers has increased significantly. The industry has demonstrated its commitment to LNG as a marine fuel through substantial investments in both vessel conversions and new builds. This trend is further supported by the fact that LNG can be price-competitive with traditional distillate fuels while eliminating the need for additional emission control technologies, making it an attractive option for shipowners looking to future-proof their fleets.
Environmental Regulations & Clean Energy Transition
The global push for cleaner energy sources has positioned LNG as a crucial transition fuel in the fight against climate change and air pollution. The significant rise in industrialization and urbanization has led to increased carbon dioxide and greenhouse gas emissions worldwide, prompting governments to promote natural gas utilization in power generation and transportation sectors. This shift is evidenced by the substantial increase in natural gas consumption, which grew by more than 21% from 3,319.4 billion cubic meters in 2012 to approximately 4,037.5 billion cubic meters in 2021.
Governments worldwide are implementing supportive policies to accelerate the adoption of natural gas, particularly in the form of CNG and LNG-based vehicles. These initiatives include various incentives such as subsidies and tax exemptions for both automobile manufacturers and consumers. The maritime sector has also seen stringent regulations on emissions, particularly regarding sulfur oxide (SOx) content in marine fuels, making LNG an attractive alternative to conventional marine fuels. The ability of LNG to meet existing and upcoming emission requirements for SOx, NOx, particulate matter, and CO2 without requiring additional processing technology has strengthened its position as a preferred clean fuel option.
Growing Liquefaction Capacity & Infrastructure Development
The global LNG market has experienced substantial growth in liquefaction infrastructure, demonstrating the industry's commitment to meeting rising demand. By early 2022, the global liquefaction capacity reached 472.4 MTPA, following the addition of 12.5 MTPA in the first four months of the year. This expansion was preceded by the commissioning of several significant projects in 2021, including PFLNG Dua (1.5 MTPA), Corpus Christi T3 (4.5 MTPA), and Yamal LNG T4 (0.9 MTPA), highlighting the industry's continuous development of new production capabilities.
The market has witnessed remarkable integration between producing and consuming nations, with LNG connecting 40 importing countries to 19 export markets as of 2021. This extensive network is supported by ongoing investments in infrastructure development, including new liquefaction plants, storage facilities, and transportation networks. The industry's commitment to expansion is further evidenced by the significant pipeline of proposed projects, particularly in emerging regions like Africa, where 123.9 MTPA of proposed liquefaction capacity awaits final investment decisions (FID). These developments in liquefaction capacity and infrastructure are creating a robust foundation for market growth, enabling more efficient and widespread distribution of natural gas across global markets.
Segment Analysis: LNG Infrastructure
LNG Liquefaction Plants Segment in LNG Infrastructure Market
The LNG Liquefaction Plants segment dominates the global LNG infrastructure market, accounting for approximately 75% of the total market share in 2024. This segment's prominence is driven by massive investments in new liquefaction capacity additions across major LNG exporting regions. Qatar's North Field East Project, comprising four mega LNG trains of 8 MTPA each, represents one of the largest ongoing liquefaction developments with an estimated investment of USD 28.75 billion. The United States continues to expand its liquefaction infrastructure with multiple projects under construction, including the Golden Pass LNG and Calcasieu Pass facilities. Additionally, significant liquefaction projects in Mozambique, Nigeria, and Russia are contributing to the segment's market leadership position.

LNG Regasification Facilities Segment in LNG Infrastructure Market
The LNG Regasification Facilities segment is experiencing the fastest growth in the LNG infrastructure market during the forecast period 2024-2029. This growth is primarily driven by rapid expansion in the Asia-Pacific region, particularly in China, India, and emerging Southeast Asian markets. China alone has multiple regasification terminals under construction, including facilities in Binhai, Chaozhou, Guangzhou, Jiaxing, and several other locations, which are expected to add around 30 MTPA of regasification capacity. India's aggressive expansion of its regasification infrastructure, including projects like the Kukrahati LNG Import Terminal, and Vietnam's development of its first LNG receiving terminals, exemplify the segment's robust growth trajectory. The increasing shift towards cleaner energy sources and the growing demand for natural gas in power generation are further accelerating investments in regasification infrastructure.
Remaining Segments in LNG Infrastructure
The LNG shipping services market plays a crucial role in connecting liquefaction facilities with regasification terminals across the global LNG supply chain. This segment encompasses various vessel types, including traditional LNG carriers, Floating Storage and Regasification Units (FSRUs), and specialized LNG bunkering vessels. The development of more sophisticated containment systems and the increasing adoption of dual-fuel propulsion technologies are reshaping the LNG shipping landscape. The segment is particularly vital in supporting the growing spot market trades and flexible delivery requirements of the evolving LNG market, while also adapting to new environmental regulations and efficiency standards in maritime transportation.
Segment Analysis: LNG Trade
LNG Imports Segment in Global LNG Trade Market
The LNG imports segment continues to dominate the global liquefied natural gas market, holding approximately 71% market share in 2024. The Asia-Pacific region remains the key importing area, with Japan maintaining its position as the world's largest LNG importer, commanding nearly 21% of global imports, followed by China at around 19%. The strong import volumes are driven by increasing gas demand for power generation, particularly in countries like Japan, China, South Korea, and India as they transition away from coal-based power. Additionally, the expansion of regasification infrastructure across Asia, including new terminals in China, India, and emerging Southeast Asian markets, has further strengthened the imports segment's dominant position in global LNG trade.
LNG Exports Segment in Global LNG Trade Market
The LNG exports segment is witnessing a robust growth trajectory projected for 2024-2029, driven by massive capacity expansions across key exporting nations. Qatar's North Field East Project is set to increase the country's LNG production capacity from 77 MTPA to 110 MTPA, with a further expansion to 126 MTPA planned. The United States continues its export growth with multiple new liquefaction trains coming online, while Russia is advancing projects like Arctic LNG 2. New export facilities being developed in Africa, particularly in Mozambique and Nigeria, along with Australia's continued capacity additions, are creating a strong supply pipeline that will drive the segment's growth over the forecast period. LNG market players and LNG trading companies are strategically positioning themselves to capitalize on these opportunities.
LNG Market Geography Segment Analysis
LNG Market in North America
North America has emerged as a dominant force in the global LNG market, holding approximately 20% of the global market share in 2024. The region's prominence is primarily driven by the United States' transformation from a net importer to a major LNG exporter. The region's success can be attributed to its vast natural gas reserves, particularly from shale formations, and significant investments in LNG infrastructure development. The United States continues to expand its LNG export capabilities through multiple terminals along the Gulf Coast, while Canada is developing its first major LNG export facilities. Mexico's strategic position has allowed it to serve both as an importer and a potential future exporter of LNG. The region's competitive advantage lies in its advanced technology, well-developed infrastructure, and proximity to both European and Asian markets. Additionally, the commitment to environmental regulations and the transition to cleaner energy sources has further strengthened North America's position in the global LNG market.

LNG Market in Europe
Europe has demonstrated remarkable growth in its LNG market, recording an impressive growth rate of approximately 10% between 2019 and 2024. The region's LNG infrastructure has undergone significant expansion, with numerous terminals operating at high capacity to ensure energy security and diversification of supply sources. The European market is characterized by its sophisticated gas infrastructure, including regasification terminals, storage facilities, and extensive pipeline networks. Countries like Spain, France, and the United Kingdom have established themselves as key LNG importing hubs, while Russia maintains its position as a major supplier. The region's commitment to reducing carbon emissions and transitioning away from coal has driven increased demand for natural gas. Furthermore, Europe's push for energy independence and supply diversification has led to increased investments in LNG infrastructure and the development of new import terminals.
LNG Market in Asia-Pacific
The Asia-Pacific region continues to be the epicenter of global LNG demand, though market projections indicate a period of adjustment with an expected decline rate of approximately 18% from 2024 to 2029. Despite this temporary adjustment, the region remains the world's largest LNG importing market, led by powerhouses such as Japan, China, and South Korea. The market dynamics are shaped by increasing environmental consciousness, rapid industrialization, and the transition from coal to cleaner energy sources. China's ambitious environmental policies and growing energy needs continue to drive significant investments in LNG infrastructure. Japan maintains its position as a technology leader in LNG infrastructure, while emerging markets like India and Southeast Asian nations are rapidly developing their LNG import capabilities. The region's LNG market is characterized by long-term supply contracts, though there is an increasing trend toward more flexible pricing mechanisms and spot market transactions.
LNG Market in South America
South America represents an emerging frontier in the global LNG market, with significant potential for both import and export activities. Brazil leads the region's LNG demand growth, driven by its need to supplement hydroelectric power during dry seasons and support its industrial expansion. Argentina's vast shale gas resources, particularly in the Vaca Muerta formation, position it as a potential future LNG exporter. Chile continues to develop its LNG infrastructure to reduce dependence on neighboring countries for energy supplies. The region's market is characterized by seasonal demand patterns, with peak requirements during the Southern Hemisphere's winter months. Infrastructure development, including floating storage and regasification units (FSRUs), has enabled greater flexibility in LNG imports. The region's strategic location allows it to serve both Atlantic and Pacific markets, creating opportunities for LNG trading and arbitrage.
LNG Market in Middle East & Africa
The Middle East & Africa region maintains its strategic importance in the global LNG market, with Qatar leading as a premier LNG exporter. The region's market is characterized by significant expansion plans in liquefaction capacity and growing domestic demand for natural gas. Qatar's North Field expansion project represents one of the most significant developments in the global LNG industry. African nations are emerging as important players, with countries like Nigeria and Mozambique developing their LNG export capabilities. The region benefits from its strategic location between European and Asian markets, allowing for flexible cargo routing and market optimization. Growing domestic gas demand in Middle Eastern countries has led to the development of import infrastructure, creating a unique dynamic where some countries serve as both exporters and importers of LNG. The region's low production costs and vast natural gas reserves continue to provide a competitive advantage in the global market.
Liquefied Natural Gas (LNG) Industry Overview
Top Companies in LNG Market
The LNG market features prominent players like Shell, Fluor Corporation, TechnipFMC, Bechtel Corporation, and JGC Holdings Corporation leading the industry through various strategic initiatives. These liquefied natural gas companies are heavily investing in technological innovation, particularly in areas like digital transformation, advanced simulation, and process optimization to enhance operational efficiency and reduce environmental impact. The industry is witnessing a strong focus on developing integrated clean energy systems and digitally-enabled solutions that provide system-wide optimization. Companies are expanding their geographical presence through strategic partnerships and joint ventures, especially in emerging markets like Asia-Pacific and Africa. There is also a notable trend towards developing smaller gas fields and polar gas pools, while simultaneously investing in decarbonization technologies and sustainable practices to align with global environmental goals.
Market Structure Shows Dynamic Competitive Environment
The LNG market exhibits a complex competitive structure characterized by both global conglomerates and specialized regional players operating across different segments of the value chain. The infrastructure segment is dominated by large engineering and construction firms that possess significant technical expertise and project management capabilities, while the trading and bunkering segment features a mix of integrated energy companies and specialized LNG operators. The market demonstrates moderate consolidation, with major players leveraging their established networks and technological capabilities to maintain their market positions, while regional players focus on niche markets and specific geographical areas.
The industry is experiencing significant merger and acquisition activity, particularly focused on expanding capabilities and geographical reach. Companies are forming strategic alliances and joint ventures to share technical expertise and market access, especially in emerging markets. These partnerships often involve collaboration between infrastructure developers and LNG traders to create integrated service offerings. The market also sees vertical integration attempts, with companies expanding across the value chain from liquefaction to regasification and distribution services, indicating a trend toward comprehensive service provision and market consolidation. This dynamic environment is reflected in the LNG market share by company, which varies significantly across different regions and segments.
Innovation and Sustainability Drive Future Success
Success in the LNG market increasingly depends on companies' ability to innovate while maintaining operational efficiency and environmental responsibility. Incumbent players are focusing on developing proprietary technologies and digital solutions to optimize operations and reduce costs, while also investing in sustainable practices and clean energy integration. Market leaders are strengthening their positions through long-term contracts with key customers, development of integrated service offerings, and expansion into emerging markets, particularly in Asia and Africa. The industry's high capital requirements and technical complexity create significant barriers for new entrants, while established players leverage their experience and financial strength to maintain competitive advantages.
For contenders looking to gain market share, success lies in developing specialized capabilities and focusing on specific market segments or geographical regions. Companies must navigate the challenges of high fixed costs and long-term contract commitments while adapting to evolving environmental regulations and customer preferences. The increasing focus on environmental sustainability and energy transition creates opportunities for innovative solutions and new business models. Market participants must also consider the concentration of buyers in key markets, particularly in Asia, and the potential impact of alternative energy sources on long-term demand. Regulatory compliance, particularly regarding environmental standards and safety requirements, continues to shape competitive strategies and investment decisions. This global market overview highlights the importance of innovation and sustainability in driving future success in the LNG industry.
Liquefied Natural Gas (LNG) Market Leaders
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Fluor Corporation
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Bechtel Corporation
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Gasum AS
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Shell PLC
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TechnipFMC plc
- *Disclaimer: Major Players sorted in no particular order

Liquefied Natural Gas (LNG) Market News
- Mar 2023: Sempra reported that Sempra Infrastructure Partners LP (Sempra Infrastructure), its 70%-owned subsidiary, reached a positive final investment decision (FID) for the development, construction, and operation of the Port Arthur LNG Phase 1 project in Jefferson County, Texas.
- Apr 2022: Petronet LNG announced the development of a floating LNG terminal in Odisha by 2025 at a cost of USD 195 million. Furthermore, Petronet is likely to invest USD 73 million in raising the capacity of the Dahej LNG import terminal to 22.5 million metric tons per year from the current 17.5 million metric tons.
Liquefied Natural Gas (LNG) Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD billion, till 2028
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
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4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.2 Restraints
- 4.6 Supply Chain Analysis
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4.7 Industry Attractiveness - Porter's Five Forces Analysis
- 4.7.1 Bargaining Power of Suppliers
- 4.7.2 Bargaining Power of Consumers
- 4.7.3 Threat of New Entrants
- 4.7.4 Threat of Substitute Products and Services
- 4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 LNG Infrastructure
- 5.1.1 LNG Liquefaction Plants
- 5.1.2 LNG Regasification Facilities
- 5.1.3 LNG Shipping
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5.2 LNG Trade
- 5.2.1
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.1.4 Rest of the North America
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Rest of the Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 South Korea
- 5.3.3.3 Japan
- 5.3.3.4 Rest of the Asia-Pacific
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of the South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 United Arab Emirates
- 5.3.5.2 Saudi Arabia
- 5.3.5.3 Rest of the Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
- 6.3.1 LNG Infrastructure Companies (Operators and EPC Companies)
- 6.3.1.1 JGC Holdings Corporation
- 6.3.1.2 Chiyoda Corporation
- 6.3.1.3 Bechtel Corporation
- 6.3.1.4 Technip FMC PLC
- 6.3.1.5 Fluor Corporation
- 6.3.2 LNG Bunkering and Trading Companies
- 6.3.2.1 Shell PLC
- 6.3.2.2 Gasum AS
- 6.3.2.3 ENN Energy Holdings Ltd.
- 6.3.2.4 Engie SA
- 6.3.2.5 Gazpromneft Marine Bunker LLC
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Liquefied Natural Gas (LNG) Industry Segmentation
LNG stands for liquefied natural gas, which is a clear, colorless, non-toxic liquid formed by cooling natural gas to -162 degrees Celsius, at which point it condenses into a liquid state. The liquefaction process reduces the volume of natural gas by 600 times, making it easier and more economical to transport and store. LNG infrastructure refers to the facilities, equipment, and systems needed to produce, transport, store, and distribute liquefied natural gas (LNG) from the source to the end users.
The LNG market is segmented by LNG Infrastructure (LNG Liquefaction Plants, LNG Regasification Facilities, and LNG Shipping), LNG Trade, and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report offers market size and forecasts for the LNG market in terms of revenue (USD billion) for all the above segments.
LNG Infrastructure | LNG Liquefaction Plants | ||
LNG Regasification Facilities | |||
LNG Shipping | |||
LNG Trade | |||
Geography | North America | United States | |
Canada | |||
Mexico | |||
Rest of the North America | |||
Europe | Germany | ||
United Kingdom | |||
France | |||
Rest of the Europe | |||
Asia-Pacific | China | ||
South Korea | |||
Japan | |||
Rest of the Asia-Pacific | |||
South America | Brazil | ||
Argentina | |||
Rest of the South America | |||
Middle-East and Africa | United Arab Emirates | ||
Saudi Arabia | |||
Rest of the Middle-East and Africa |
Liquefied Natural Gas (LNG) Market Research FAQs
What is the current LNG Market size?
The LNG Market is projected to register a CAGR of 6.75% during the forecast period (2025-2030)
Who are the key players in LNG Market?
Fluor Corporation, Bechtel Corporation, Gasum AS, Shell PLC and TechnipFMC plc are the major companies operating in the LNG Market.
Which is the fastest growing region in LNG Market?
South America is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in LNG Market?
In 2025, the Asia-Pacific accounts for the largest market share in LNG Market.
What years does this LNG Market cover?
The report covers the LNG Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the LNG Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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LNG Market Research
Mordor Intelligence provides a comprehensive industry overview of the liquefied natural gas industry. We deliver detailed analysis of global LNG markets. Our extensive research covers LNG production by country, LNG trade dynamics, and developments in the LNG sector worldwide. The report offers in-depth LNG market data and analytical insights. It examines global LNG supply patterns and LNG demand forecast trends. Available as an easy-to-download report PDF, our research includes assessments of upcoming LNG projects in world and the LNG industry outlook.
Stakeholders gain valuable insights through our global market analysis of LNG market trends and the future outlook. The report provides a detailed examination of liquefied natural gas companies operations, activities of LNG trading companies, and global LNG services. Our research delivers crucial market forecast data, including projections of LNG market size and indicators of market growth. The comprehensive analysis supports strategic decision-making with LNG projects data and industry trends, offering actionable intelligence for businesses operating in the global LNG sphere.