Global natural gas demand and LNG supply are on track to hit record highs in 2026, according to the International Energy Agency’s (IEA) latest Gas Market report. And once again, the United States is leading the way: driving investments, production, and exports as LNG markets become increasingly global.
The report underscores a notable shift at the IEA itself. After years of downplaying the role of fossil fuels, most notably in its 2021 Net Zero by 2050 report, the agency’s return to energy realism now predicts that natural gas demand will continue to grow well into the 2030s, largely as countries switch from coal to gas.
Global LNG production increased by nearly 7 percent in 2025, with the Plaquemines LNG plant in Louisiana accounting for over 60 percent of increase in LNG supply alone. Looking ahead, North American will remain the engine of global LNG growth in 2026, with the United States, Canada, and Mexico expected to deliver more than 85 percent of new LNG supply.
In fact, in 2025 the United States became the first country to export 10.1 million metric tons of LNG in a single month. United States Energy Association and CEO Mark Menezes lauded this achievement, saying:
“By prioritizing maximum production and cutting bureaucratic red tape, we are unlocking America’s full energy potential. Our ability to rapidly scale up production showcases the strength and reliability of our energy infrastructure, which is crucial for U.S. economic stability and our influence on the global stage.”
American producers will have ample destinations for LNG supply, as the deployment of LNG export projects are expected to boost LNG import growth in Asia and Europe. Stronger LNG supply is in turn set to drive global gas demand growth in 2026.
New Year, New LNG
IEA data shows that the United States now leads the world in LNG investment decisions. Of the more than 90 billion cubic meters (bcm) of LNG liquefication capacity that reached a financial investment decision (FID) in 2025, over 80 bcm came from American projects, a new industry record.
According to the IEA, 2025 was the second strongest year for LNG FIDs, trailing only 2019. The rebound came after a sharp and telling pause following the Biden administration’s decision to pause new LNG export approvals in 2024, bringing investment momentum to a standstill.
Source: IEA Gas Market Report, Q1-2026
Once the pause was reversed in 2025, projects moved quickly. Newly sanctioned U.S. developments include : Louisiana LNG; Corpus Christi Train 8&9; CP2 phase 1; Rio Grande LNG Train 4; and Port Arthur phase 2. As the IEA puts it:
“This new wave of projects is expected to further solidify the United States’ position as the world’s largest LNG supplier.”
By 2030, America’s share of the global LNG market is projected to rise from 25 percent to roughly one third. American LNG contracts were also on the rise, with American producers accounting for around half of all contracted volumes in 2025.
Imports to Surge in Europe and Asia
Strong U.S. supply will meet growing demand oversees. For instance, European LNG imports increased by 30 percent in 2025, and are expected to reach a record high of more than 185 bcm in 2026. European demand is driven by strong storage requirements and exports to Ukraine, as well as the European Union’s plan to fully phase-out Russian gas by November 2027.
This creates a unique opportunity for American LNG. As Europe navigates ongoing geopolitical uncertainty, reliable U.S. natural gas remains central to energy security. But policy choices matter. producers to provide stability in a region beset by geopolitical tension.
Source: IEA Gas Market Report, Q1-2026
While recent amendments to the bloc’s corporate sustainability due diligence laws were a welcome improvement, onerous methane reporting regulations could endanger the very gas supplies Europe needs to out Russian gas.
Asia is also poised for strong growth. Gas demand across the Asia-Pacific region is expected to increase by more than 4 percent, fueled by expanded LNG availability, and increases in the power, residential, and commercial sectors. In emerging Asian economies, gas consumption growth is expected to accelerate to roughly 7 percent, spurred by the power and industrial sectors and overall economic growth. This increase in demand is the perfect opportunity for American suppliers to expand their LNG reach globally.
Together, these trends illustrate just how global the LNG market has become, and how critical U.S. supply is to meeting that demand.
Easing Regulatory Burdens Drives LNG Development
The lesson from the IEA report is straightforward. When regulatory barriers are removed, American LNG delivers. In 2025 alone, the United States set five separate monthly production records. Jason Feer, head of business intelligence at shipping firm Poten and Partners, described the transformation of the industry:
“It is remarkable that in nine years the U.S. has gone from zero LNG exports to over 100 mmt, and the success validates the U.S. approach of selling free on board and pulling gas off the grid and the reliability of U.S. supplies.”
The United States continues to be the world’s leader in LNG because of its destination-flexible exports and incredible innovation. With new projects coming online in 2026 and global gas demand continuing to rise, supportive policy frameworks will be essential to maintaining that momentum.
Bottom Line: IEA data confirm that America’s LNG ‘golden age’ is far from over. With the right policies in place, U.S. LNG will continue delivering energy security and economic growth well into 2026 and beyond.
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