Global liquefied natural gas (LNG) exports increased by 3.1% year-on-year in the first quarter of 2025, reaching approximately 109.3 million tons, according to a report from the Organization of Arab Petroleum Exporting Countries (OAPEC).
"The Liquefied Natural Gas Quarterly Report" by OAPEC showed that the rise in LNG demand was driven by several factors, including colder-than-usual winter temperatures in Europe, the complete suspension of Russian gas transit through Ukraine in January 2025, and Egypt's limited domestic production failing to meet its internal demand.
In the first quarter, LNG exports from the US rose 14.8% to 26.6 million tons compared to the same period last year. Qatar's exports increased by 5.8% to 21.9 million tons, while Australia saw a 5.9% decline to 19.3 million tons.
Russia, the world's fourth-largest LNG supplier, recorded its first export decline since the start of the war with Ukraine in February 2022. The country's LNG exports fell by 4.6% to 8.3 million tons due to the shutdown of two liquefaction plants.
- Asian LNG imports led by China decline amid US tariffs
The report revealed that global LNG imports in the first quarter rose 3.2% year-on-year to approximately 110.5 million tons, mainly driven by higher demand from Europe and Egypt.
Asia remained the top destination for LNG with 67.9 million tons imported, though this marked a 5.7% drop compared to the same period last year.
A total of 51.4 million tons was shipped to China, Japan, South Korea, and Taiwan. China's LNG imports fell significantly, down 20% year-on-year to 15.8 million tons in the first quarter.
China's LNG imports from the US declined significantly in the first quarter, mainly as a result of US-imposed tariffs on Chinese goods and reciprocal measures taken by Beijing.
While China imported 4.16 million tons of LNG from the US in the first quarter of 2024, the volume dropped to just 260,000 tons in the same period this year.
In January, China imported 194,200 tons, followed by around 66,000 tons in February, and recorded no imports at all in March.
- Europe's LNG imports surge amid gas supply disruptions
LNG imports in Europe, including T眉rkiye and the UK, jumped 23.8% year-on-year to about 36.8 million tons in the first quarter. The surge was attributed to colder-than-average temperatures and the disruption of Russian pipeline gas supplies through Ukraine.
In terms of supplier shares within Europe's LNG portfolio, the US led with a 51.2% share, followed by Russia at 17.7%, Qatar at 10%, Nigeria at 6.2%, Algeria at 4.2%, Norway at 3.2%, and other countries at 7.2%.
LNG imports by North and South America declined by 20% to 3.2 million tons, while the Middle East's imports more than doubled, increasing by 117% to 2.6 million tons.
Indonesia, Angola, the US, Equatorial Guinea, Mozambique, the UAE, Qatar, Papua New Guinea, Malaysia, and Oman were among the countries that increased their LNG exports in the first quarter compared to last year.
The US stood out as the top LNG exporter with 26.4 million tons, while Indonesia recorded the highest percentage growth in exports during this period.
By Fuat Kabakci
Anadolu Agency
energy@aa.com.tr