Liquefied natural gas industry

The liquified natural gas industry refers to the production, trade, and consumption of natural gas. While oil has been traded globally for decades, natural gas has tended to remain within its continent of origin. This means that different continents have had very different prices for natural gas. Liquefied natural gas (LNG) has started to change this process. There has been significant growth of the LNG market in recent years, largely in the countries with the largest markets. However, in order to meet the continuous increase of LNG demand, many regions have pursued in LNG export activities to diversify gas supply.

Worldwide Demand

Regional imbalances in the availability of natural gas have been creating differences in natural gas prices across the world. This leads naturally to how much natural gas is used and for what it gets used for (electricity, home heating, cooking, etc.).

This inequality has contributed to the rapid expansion of the global LNG market. As shown in Figure 1, global LNG export capacity is projected to grow by close to 50% by 2030, driven primarily by new liquefaction projects in the United States, and Qatar. However, under the international Energy Agency's States Policies Scenario (STEPS), LNG demand is expected to grow more gradually than export capacity. This increase in capacity is expected to create a more competitive global LNG market. Figure 1 illustrates the historical growth and projected relationship between global LNG trade and liquefaction capacity from 2015 to 2035.

Figure 1. Historical (green) and projected (yellow) global LNG trade and liquefaction capability from 2015 through 2035.

Selected specific markets

There are many other LNG markets in the world, here are a couple markets of interest.

Asia Market

The current LNG imports by Asian regions account for 69% of the global LNG trade, with China, Japan, and South Korea importing the most LNG in Asia.

Japan is the largest importer of LNG in the world, since the decline of China's imports by 27%. Japan's largest LNG suppliers are Australia and Malaysia, accounting for roughly 48% of import share as of 2025 with a substantial supply coming from the United States (10.3%).

Russia, one of the world's largest energy supplier, is becoming one of Asia LNG exporters to meet the growing demand. Russia currently has an LNG plant located on Sakhalin Island off the country's East Coast that provides an annual capacity of 10 million tonnes.

Canada Market

Canada has emerges as a participant in the global LNG industry, officially entering the the LNG export market in 2025 with LNG Canada facility in Kitimat, British Columbia.

Import Terminal

Canada currently has one operational LNG located in Saint John, New Brunswick. Canaport LNG is an import terminal that receives and regasifies LNG, which transports natural gas to both Canadian and US markets via the Brunswick Pipeline.

Due to the current economic decline, combined with a decrease in U.S. demand for natural gas, there is a reduced need for LNG exports to the United States. Canaport is currently debating conversion to an export terminal for this reason.

Export Terminal

Canada's first large scale LNG export terminal, LNG Canada, began exporting in 2025. The facility has an initial export capacity of approximately 14 million tonnes of LNG per year, with future expansion phases under construction. In addition to LNG Canada, there are many other proposed export terminals going through review, construction or final investment planning stages. For more information about the status of these applications, please see LNG Export and Import Licence Applications.

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