Liquefied natural gas Market Report 2026

The liquefied natural gas market size has grown strongly in recent years. It will grow from $153.65 billion in 2025 to $163.69 billion in 2026 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to growth in global energy demand, limitations of pipeline infrastructure, expansion of power generation capacity, rise in natural gas production, demand for cleaner fossil fuels.

The liquefied natural gas market size is expected to see strong growth in the next few years. It will grow to $220.22 billion in 2030 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to energy transition initiatives, growth in LNG fueled shipping, expansion of gas fired power plants, investment in LNG terminals, rising demand from emerging economies. Major trends in the forecast period include expansion of LNG as a cleaner power fuel, rising adoption in heavy duty transportation, growth in small scale LNG infrastructure, increasing investment in LNG liquefaction projects, rising cross border LNG trade.

Rising demand for liquefied natural gas (LNG) is expected to drive the growth of the LNG market in the coming years. Liquefied natural gas is natural gas that has been purified and cooled to approximately -260°F, converting it into a liquid form for easier storage and transportation. This growing demand is fueled by increasing motor fuel consumption and the expanding semi-urban and rural population, which is driving higher overall energy needs. The LNG market supports these requirements by providing a cleaner, efficient, and scalable fuel alternative for power generation, transportation, and industrial applications. For example, in June 2025, the U.S. Energy Information Administration reported that natural gas accounted for around 38% of total U.S. energy production in 2024, while natural gas plant liquids contributed about 9%, with NGPL production reaching a record 4 trillion cubic feet, a 7% increase compared to 2023. Consequently, rising demand for liquefied natural gas is fueling the growth of the LNG market.

Major players in the liquefied natural gas market are also focusing on the development of innovative products to drive revenue growth. One such product is SnapLNG, a modular and standardized solution for low-carbon and faster time-to-market LNG production. In September 2023, Technip Energies N.V., a Netherlands-based company specializing in engineering and technology for the energy industry, launched SnapLNG. This pre-engineered system offers a complete LNG liquefaction plant with streamlined project execution, providing unprecedented levels of assurance regarding cost, schedule, plant dependability, and availability. The solution consists of repeatable modules ready for delivery and installation, with a capacity of 2.5 Mtpa.

In October 2024, Woodside Energy, an Australia-based energy company that supplies energy for homes, industry, and cooling, acquired Tellurian Inc. for $1.2 billion. This acquisition is intended to strengthen Woodside Energy's position in the U.S. liquefied natural gas (LNG) market and broaden its global operations. Tellurian Inc. is a U.S.-based natural gas company that specializes in developing low-cost liquefied natural gas (LNG) projects.

Major companies operating in the liquefied natural gas market are BP plc, Chevron Corporation, Eni SpA, Exxon Mobil Corporation, TotalEnergies SE, Cheniere Energy Inc., ConocoPhillips Company, Sempra Energy, Woodside Energy Group Ltd., Gazprom Energy, PetroChina Company Limited, Shell plc, Equinor ASA, China Petrochemical Corporation, INPEX Corporation, GAIL India Limited, Indian Oil Corporation Limited, China National Petroleum Corporation, Petronet LNG Ltd., PJSC Gazprom, QatarEnergy, Freeport LNG Development L.P., Kinder Morgan Inc., Tellurian Inc., Venture Global LNG Inc., Apache Corporation, BP Trinidad and Tobago LLC, CNOOC Limited, Devon Energy Corporation, Hess Corporation, JERA Co. Inc., Occidental Petroleum Corporation, Origin Energy Limited, Santos Limited, Woodfibre LNG Limited.

Asia-Pacific was the largest region in the liquefied natural gas market in 2025. The regions covered in the liquefied natural gas market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the liquefied natural gas market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The liquefied natural gas market consists of sales of propane, butane, and isobutane. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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