Global liquefied natural gas trade volumes reached record high in 2025

Global trade in liquefied natural gas (LNG, natural gas cooled into liquid form for shipping) hit a record last year, rising 5.4% to 56.3 billion cubic feet per day. The United States drove most of the growth, with exports up 26% to 15.1 billion cubic feet per day. That made the U.S. the source of 26% of all LNG shipped worldwide, up from 21% the year before. Forecasters expect U.S. exports to keep climbing, reaching 17.4 billion cubic feet per day in 2026 and 18.6 billion in 2027.

This matters for home energy costs because natural gas prices are set by global supply and demand, not just local markets. Europe imported 29% more LNG in 2025, partly because a Russia-Ukraine pipeline deal expired at the end of 2024, cutting off pipeline gas and pushing European buyers to compete for LNG cargoes on the world market. This year, the closure of the Strait of Hormuz has cut off about 20% of global LNG supply from Qatar, the world's second-largest exporter, adding more competition between Asian and European buyers for the same gas. Russian LNG exports also fell due to sanctions tied to the war in Ukraine.

None of this requires any action around your house, but it's a reminder that natural gas prices depend heavily on events far outside your local utility's control. If your home heats with gas, swings in global supply like these are part of why your bill can move even when nothing changes at home.