Global LNG imports fell 2.9% in June

In June 2026, global imports of liquefied natural gas (LNG) decreased by 2.9% or 0.99 million tonnes year-on-year, totaling 33.36 million tonnes, according to the monthly report of the Gas Exporting Countries Forum (GECF).

The decline in global LNG imports was mainly driven by lower import volumes in Europe. Increased deliveries to Asia, as well as to the Middle East and Africa (MEA) region, partially offset this decline. GECF noted that the market weakening is linked to the negative impact of restrictions on LNG transportation through the Strait of Hormuz on global supply amid the conflict in the Middle East.

At the same time, in January–June 2026, global LNG imports increased by 1.1% or 2.39 million tonnes compared to the same period last year, reaching 215.64 million tonnes. The growth was mainly driven by increased imports in the Middle East and Africa region.

Global LNG exports also declined in June by 0.5% or 0.17 million tonnes year-on-year, amounting to 33.58 million tonnes. GECF attributed this primarily to ongoing restrictions in the Strait of Hormuz. However, growth in exports from non-GECF countries almost fully compensated for the decline in exports from member countries and the reduction in re-exports.

In June, the world's largest LNG exporters were the United States, Australia, and Russia. As a result, the share of non-GECF countries in global LNG supply rose from 52.9% in June last year to 67.8% in June this year. Over the same period, the share of GECF member countries fell to 32%, and the share of re-exports to 0.2%.

In the first six months of the year, global LNG exports showed positive dynamics, increasing by 1.3% or 2.8 million tonnes year-on-year, reaching 214.37 million tonnes. The growth was mainly driven by increased exports from non-GECF countries.

The report noted that global LNG re-exports in June fell by 68% to 0.07 million tonnes, reaching the lowest level in recent years. The main reason was a sharp decline in re-export operations in Chile and Indonesia. At the same time, in January–June, total re-exports grew by 4.5% to 1.95 million tonnes, mainly driven by re-exports from China.

In January–June, 3,192 LNG shipments were carried out. The largest exporters among GECF member countries were Malaysia, Russia, and Qatar.

Since the beginning of the year, the largest increase in LNG shipments was recorded in the United States (+166 cargoes) and Nigeria (+33 cargoes). In percentage terms, the highest growth was observed in the Republic of the Congo and Egypt, where LNG shipments increased by 200%.

GECF also reported that the spot market for LNG carrier freight remained broadly stable in June. The average daily charter rate for TFDE LNG carriers rose by 1% month-on-month to $60,700, while for vessels with two-stroke engines it increased by 3% to $87,400. The average daily charter rate for steam turbine LNG carriers rose by 12% month-on-month to $28,100.

According to the report's authors, positive market sentiment in June was mainly linked to the achievement of a framework peace agreement in the Middle East and expectations of the opening of the Strait of Hormuz. These factors strengthened the prospects for resuming LNG supplies from Qatar and the UAE to Asian markets. At the same time, expectations of shorter supply routes from the Middle East by the end of the month reduced the economic attractiveness of long-haul shipments from the Gulf of Mexico and led to some decline in spot freight rates.

According to the report, the average price of marine fuel in June was $680 per tonne, 15% lower than the previous month. As a result, spot transportation costs for LNG on some routes fell to $0.18/MMBtu, but year-on-year, transportation costs on certain routes increased by $0.95/MMBtu.