Global LNG trade is set for a notable uptick in 2026 as recovering Asian demand and robust European imports converge with record fleet expansion, according to Drewry.
Speaking at the Drewry LNG Market Outlook webinar on 29 January 2026, Aman Sud, Senior Manager at Drewry, reflected on 2025, noting that: “Asia’s imports fluctuated throughout the year, with Q1 down 2 per cent year-on-year (YoY), Q2 surging 10 per cent, and Q3 falling 8 per cent, while Europe consistently imported more, ending winter with storage at 75 per cent.”
Sud highlighted that geopolitical shocks, including US-China trade tensions and the Iran-Israel conflict, produced short-lived price spikes, and the global LNG fleet expanded steadily, with 76 new carriers delivered over the year.
Looking ahead, Pratiksha Negi, Lead Analyst at Drewry, projected that: “Global LNG trade will grow by 6 per cent in 2026, driven by China’s demand recovery, rising imports in Taiwan and India, and continued reliance on LNG by South Korea and Japan despite nuclear energy developments.”
Negi emphasised that Europe will maintain strong demand as nations seek healthy storage levels, reduce reliance on Russian LNG, and respond to supply improvements from other exporters, with weather and geopolitical factors shaping market dynamics.
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Fleet expansion remains a defining feature of the outlook, with 100 LNG vessels — including 85 LNGCs —expected to join the global fleet in 2026, representing an 8.5 per cent increase.
“While the fleet grows rapidly, controlled ordering and planned demolitions will help maintain market balance,” Negi said, noting that shipping rates are in recovery, but dramatic growth is unlikely given the surge in capacity.
Drewry analysts underscored that 2026 could be a turning point for the market as new supply projects, including Qatar’s North Field expansions and Corpus Christi in the US, converge with rising demand, softening prices and strengthening the global LNG trade.
The combination of growing demand, expanding supply, and disciplined fleet management will define the year, presenting opportunities and challenges for shipowners, charterers, and energy stakeholders navigating an increasingly complex and geopolitically sensitive market.
For more information:
Drewry – https://www.drewry.co.uk/
