Global Geopolitical Dynamics are Projected to Assist the Liquefied Natural Gas (LNG) Market Growth

Liquefied natural gas market size was $135.7 billion in 2024 and is anticipated to grow at a steady CAGR of 7.2% during the forecast period (2025-2035). The growing intensity of global geopolitical tensions is projected to contribute largely to LNG market demand. Primarily, the war tension between Russia and Ukraine had led to several disruptions across the natural gas supply chain, as regions including the European Union were highly reliant on Russian gas supply for sustaining their energy & electricity operations. 

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However, post the war outbreak, regions such as the European Union have concentrated their efforts towards diversifying their energy supply needs by shifting LNG imports towards countries such as the US and Qatar and investing in the development of novel infrastructure that will assist the diversification initiative. Further, the disruption has fostered cross-nation partnerships for LNG supply, alongside benefiting major LNG-exporting countries such as Qatar to increase their global market share. 

Major LNG Market Demand-Supply Developments 

• North America's liquefied natural gas (LNG) export capacity is poised to more than double between 2024 and 2028, from 11.4 billion cubic feet per day (Bcf/d) in 2023 to 24.4 Bcf/d by 2028, according to the U.S. Energy Information Administration (EIA). Growth will come from 0.8 Bcf/d from Mexico, 2.5 Bcf/d from Canada, and 9.7 Bcf/d from the US, all due to 10 new projects currently under construction.

• In May 2022, the EU adopted the REPowerEU Plan to help the EU countries save energy, diversify supplies, and increase the production of clean energy. The plans achieved several milestones including reducing 18% gas consumption, breaking dependence on fossil fuels from Russia, ensuring safe access to energy, and generating much more electricity from wind and solar sources than from gas.

• In March 2022, the EU and the US agreed to increase the trade of LNG by setting a target of a rise in EU imports of LNG from the US by 15 billion cubic meters (bcm) in 2022 over the previous year. The target was achieved by the end of August 2022, four months ahead of schedule.

Market Coverage

· The market number available for – 2024-2035

· Base year- 2024

· Forecast period- 2025-2035

· Segment Covered- 

o By Application

· Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

· Competitive Landscape- Chevron Corp., Exxon Mobil Corp., QatarEnergy LNG, Shell Group, TotalEnergies SE, and others.

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Liquefied Natural Gas Market Report Segment

By Application

• Transportation
• Power and Gas Generation
• Industrial

Global Liquefied Natural Gas Market Report Segment by Region

North America

· United States

· Canada 

Europe

· UK

· Germany

· Italy

· Spain

· France

· Russia

· Rest of Europe 

Asia-Pacific

· China

· India

· Japan

· South Korea

· Australia and New Zealand

· ASEAN Economies

· Rest of Asia-Pacific 

Rest of the World

· Latin America 

· Middle East & Africa

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