2026年全球液化天然气（LNG）报告_88页_7mb

World LNG Report 2026 Summary

Core Content Overview

The World LNG Report 2026 by the International Gas Union (IGU) provides a comprehensive analysis of the global LNG industry's performance, challenges, and future outlook. It highlights the industry's resilience and adaptability in the face of geopolitical and market disruptions, while emphasizing the role of LNG in supporting a sustainable energy transition.

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Main Points and Key Information

1. Global LNG Trade and Market Trends

• 2025 Global LNG Trade: Reached a record of 436.98 million tonnes (Mt), up 6.3% from 2024.
• Export Growth: Driven by the U.S., Qatar, Malaysia, Angola, Nigeria, Canada, and Mauritania/Senegal.
• Import Growth: Asia Pacific remained the largest importer, while Europe emerged as a major demand growth center.
• Trade Shifts: Increased regionalisation of LNG trade flows due to supply security concerns and the redirection of Atlantic Basin supply to Europe.

2. Price Trends

• Platts JKM Benchmark: Averaged US$12.16/MMBtu in 2025, up 2.1% from 2024, with a trading range of US$9.39–US$17.12/MMBtu.
• 2026 Price Volatility: Sharp widening of price spreads due to Middle East disruptions and Strait of Hormuz closure, with Platts JKM reaching US$25.39/MMBtu in early March.
• Market Response: Increased physical and derivatives trading activity as market participants hedged against supply risk and price volatility.

3. Liquefaction Capacity and Projects

• Global Liquefaction Capacity: Reached 524.5 Mtpa by end-2025, up 30.1 Mtpa from 2024.
• Key Projects:
  • U.S. (Plaquemines, Corpus Christi Stage 3, Woodside Louisiana LNG, Calcasieu Pass 2 LNG, Port Arthur Phase 2, Rio Grande Phase 2)
  • FLNG: Tortue/Ahmeyim (2.5 Mtpa), Coral North FLNG (3.6 Mtpa), Southern Energy FLNG (6.0 Mtpa)
• Utilisation: Global liquefaction utilisation slightly declined to 83.9% due to maintenance, weather, and commissioning challenges.

4. Proposed New Liquefaction Plants

• Total Proposed Capacity: 1,105.4 Mtpa as of end-2025, largely unchanged from 2024.
• Regional Distribution:
  • North America: 650.3 Mtpa
  • Russia: 170.4 Mtpa
  • Africa: 121.1 Mtpa
  • Asia Pacific: 67.0 Mtpa
  • Middle East: 65.7 Mtpa
• Challenges: Geopolitical risks, cost inflation, permitting issues, and financing constraints affect project progression.

5. LNG Shipping

• Global Fleet: Expanded to 804 vessels by end-2025, including 49 FSRUs and 11 FSUs.
• Voyage Activity: 6,870 trade voyages recorded in 2025, down 2.8% from 2024 due to larger vessel sizes.
• Charter Rates: Remained weak throughout 2025, with some vessels trading below breakeven levels.
• Technology Trends: X-DF propulsion systems dominated newbuilds, with 185 vessels on order. ME-GA production was discontinued due to stricter IMO regulations.
• 2026 Impact: The Hormuz crisis caused significant rate spikes, with prompt rates reaching up to US$300,000/day in March.

6. LNG Receiving Terminals

• Global Capacity: Reached 1,113.5 Mtpa across 50 markets by end-2025.
• New Projects: 20 regasification projects commissioned in 2025, including 13 new terminals and 7 expansions.
• Major Additions:
  • Egypt: Ain Sokhna (Sonkar) and Ain Sokhna (Sumed) FSRUs (5.7 Mtpa each)
  • Jordan: Aqaba FSRU (5.7 Mtpa)
  • China: Five projects adding 15.1 Mtpa
• Utilisation: Slightly increased to 39.2% in 2025, but remained uneven across regions.

7. Floating and Offshore Regasification

• Global Capacity: Reached 216.1 Mtpa by end-2025, accounting for 19.4% of total regasification capacity.
• Key Projects:
  • Egypt, Jordan, Senegal, and others added floating terminals to enhance supply flexibility.
• Strategic Importance: Floating terminals offer faster deployment, lower costs, and greater flexibility, especially in emerging markets.

8. Environmental and Sustainability Considerations

• e-Methane and Biogas: Japan is working to establish international rules for importing e-methane and biogas to support carbon-neutral gas.
• Clean Gas Certificates: Issued by the Japan Gas Association to facilitate the transfer of environmental attributes.
• Decarbonisation: Increasing integration of electric-drive systems, renewable power, and carbon capture and storage (CCS) in liquefaction projects.

9. Challenges and Outlook

• 2026 Disruptions: Middle East conflict and Strait of Hormuz closure caused supply shocks, price volatility, and increased demand for flexible supply options.
• Future Outlook: The LNG industry is expected to maintain its long-term expansion path toward 2035, driven by population growth, urbanisation, and the need for cleaner energy systems.
• Key Drivers: Continued investment, innovation, and international cooperation are critical to securing LNG's role in a sustainable energy future.

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Conclusion

The World LNG Report 2026 underscores LNG's pivotal role in global energy security and its potential to support the transition to a low-carbon economy. While 2026 has introduced significant challenges, the industry's adaptability, technological advancements, and strategic investments reinforce its long-term viability. The report calls for policy support to ensure infrastructure resilience, secure trade routes, and maintain market stability.