Global LNG trade seen rising 200 Bcm/year by 2031: IEF
Global LNG demand is expected to grow to 800 billion cubic meters/year, or about 28.2 Tcf/year, by 2031 from 600 Bcm/year in 2026, with the United States remaining the world’s largest supplier, according to a new LNG market security report from the International Energy Forum. Over the next five years, the largest increase in LNG ...
The International Energy Forum (IEF) predicts a significant rise in global LNG demand, with the market expected to grow from 600 billion cubic meters (Bcm) per year in 2026 to 800 Bcm per year by 2031, or approximately 28.2 trillion cubic feet (Tcf) annually. The United States is projected to remain the world's leading LNG supplier, with new export capacity anticipated to expand at one of the fastest rates globally over the next five years.
However, the report highlights a growing concentration in global LNG supply, with the three largest exporters—Qatar, Australia, and the United States—accounting for nearly 64% of global production in 2024, up from around 60% in 2000. This trend, while driven by increased production from established players, also poses risks due to limited alternative supply routes, particularly through the Strait of Hormuz, which accounts for about 20% of global LNG shipments.
Despite the supply risks, the IEF emphasizes the continued importance of LNG in meeting rising global energy demand, driven by sectors such as digital infrastructure, advanced manufacturing, and Artificial Intelligence.
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