Last month, global LNG imports increased by 2.14 Mt year-on-year to 34.61 Mt, marking a y-o-y increase for the sixth consecutive month of annual growth.
Doha-based GECF said this growth was primarily driven by stronger imports into Europe and, to a lesser extent, the MENA region, which more than offset the slowdown in Asia.
Despite Northeast Asia’s spot LNG prices maintaining a slight premium over the TTF month-ahead contract, netback economics continued to favor deliveries into Europe, according to GECF.
This pricing dynamic sustained the flow of US LNG cargoes towards European markets over Asian destinations.
Between January and July 2025, global LNG imports increased by 4.4 percent (10.56 Mt) y-o-y to reach 249.15 Mt, driven primarily by higher LNG demand in Europe, GECF said.
European LNG imports continue upward trend
In July 2025, Europe’s LNG imports continued their upward trajectory, surging by 43 percent y-o-y (2.75 Mt) to reach 9.08 Mt, GECF said.
This growth was supported by stronger gas demand for reinjection into underground storage and declining pipeline gas imports.
GECF noted that the import increase was driven by France, Germany, Italy, the Netherlands, Spain, and the UK, which collectively offset a decline in imports by Türkiye.
Between January and July 2025, Europe imported 77.04 Mt of LNG, marking a sharp 27 percent increase (16.58 Mt) y-o-y, GECF said.
This also represented a 7.3 percent rise compared to the same period in 2022, a record year for European LNG imports.
GECF said the rise in LNG imports to France and the Netherlands was primarily driven by increased pipeline gas exports to neighbouring countries, with both nations serving as major transit hubs for LNG imports.
In Germany and Italy, lower pipeline gas imports, combined with higher pipeline gas exports to neighbouring countries and increased reinjection into underground storage, supported the growth in LNG imports.
The sharp increase in Spain’s LNG intake was underpinned by stronger domestic gas consumption and heightened storage injection activity.
In the UK, a decline in pipeline gas imports, coupled with higher exports to mainland Europe, contributed to the uptick in LNG imports.
In contrast, Türkiye experienced a decline in LNG imports due to rising pipeline gas deliveries and increased domestic gas production, GECF said.
Asia Pacific LNG imports drop
GECF said that Asia Pacific’s LNG imports declined by 6.2 percent y-o-y (1.43 Mt) to 21.62 Mt, marking an accelerated pace of decline compared to previous months.
The reduction was largely driven by lower imports in India, Japan, and Thailand, partially offset by increased imports from Bangladesh and South Korea, according to GECF.
GECF said China’s LNG imports stabilised during the month, following eight consecutive months of y-o-y declines.
From January to July 2025, Asia Pacific’s LNG imports fell sharply by 5.2 percent (8.49 Mt) y-o-y to 154.57 Mt.
The decline in India’s LNG imports was primarily driven by reduced gas demand for electricity generation, as the early onset of the monsoon season lowered cooling demand.
In Japan, elevated LNG inventories and the passage of Typhoon Nari, which curtailed cooling demand, contributed to lower LNG imports, GECF said.
In Thailand, high storage levels and competitive coal prices further dampened LNG import needs.
Conversely, Bangladesh’s LNG imports increased due to the full utilisation of the Summit FSRU, which had faced operational disruptions in 2024.
In South Korea, the rise in LNG imports was driven by restocking activity, GECF said.
Latin America and MENA
LNG imports in the Latin America & the Caribbean region increased by 20 percent (0.26 Mt) y-o-y to 1.58 Mt.
GECF said Colombia, Dominican Republic, Jamaica, and Puerto Rico drove the rise in LAC’s LNG imports, offsetting a drop in Argentina.
Between January and July 2025, LNG imports in the LAC region declined by 8.5 percent (0.73 Mt) y-o-y to 7.86 Mt.
The increase in Colombia’s LNG imports was driven by a decline in domestic gas production.
In the Dominican Republic, rising gas demand in the electricity sector supported higher LNG imports.
GECF said the growth in Jamaica’s LNG imports was mainly due to increased imports from Nigeria and the US.
Additionally, stronger imports from Mexico and the US contributed to the rise in Puerto Rico’s LNG imports.
In contrast, increased domestic gas production in Argentina led to a reduction in its LNG imports, GECF said.
According to GECF, the MENA region’s LNG imports surged by 31 percent (0.51 Mt) y-o-y in July to a record high of 2.19 Mt driven mainly by Egypt, which offset a decline in Jordan.
From January to July 2025, the MENA region’s LNG imports jumped by 64 percent (3.51 Mt) y-o-y to 8.99 Mt.
GECF said the increased imports in Egypt were due to weaker domestic gas supply while the drop in Jordanian imports was due to the temporary absence of an FSRU for LNG imports.
LNG exports surge
GECF said that global LNG exports surged by 12 percent y-o-y in July to reach 36.55 Mt, a record high for the month and the strongest annual growth rate since July 2019.
The increase was driven by higher exports from both GECF member countries and non-GECF countries, which more than offset a decline in LNG re-exports.
Between January and July 2025, global LNG exports rose by 5 percent y-o-y (11.93 Mt) to reach 249.66 Mt, largely supported by gains from non-GECF exporters, and to a lesser extent by GECF member nountries and LNG re-exports.
Non-GECF countries remained the largest exporters in July, with their market share rising to
55.2 percent, up from 53.1 percent a year earlier.
In contrast, the shares of GECF member countries and LNG re-exports declined from 45.5 percent and 1.4 percent to 44.3 percent and 0.5 percnt, respectively.
GECF said the US, Qatar, and Australia maintained their positions as the top three LNG exporters during the month.