Recession in the liquefied natural gas market

56

In June 2026, global liquefied natural gas (LNG) imports decreased by 2.9% year-on-year to 33.36 million tons, while exports fell by 0.5% to 33.58 million tons. This was stated in the monthly report of the Gas Exporting Countries Forum (GECF).

Sea-news.az reports that according to the report, the decline in global LNG trade in June is mainly related to the drop in seaborne imports in Europe and restrictions applied to tanker transits through the Strait of Hormuz against the background of the conflict in the Middle East. An increase in maritime transport purchases in Asia and the MEA region partially compensated for this regression.

During the month, the US, Australia, and Russia were the main maritime exporters. As a result, the share of non-GECF member countries in global LNG supply rose to 67.8%, while the share of GECF members dropped to 32%.

In the first half of the year (January–June), global seaborne LNG imports increased by 1.1% to 215.64 million tons, and exports rose by 1.3% to 214.37 million tons.

Key indicators in maritime transport:

  • Transported cargo batches: A total of 3,192 LNG shipments (508 voyages in June) were transported by sea in 6 months.
  • Leaders: The largest increase in the dispatch of tankers was recorded in the US (+166 shipments) and Nigeria (+33 shipments).

In June, spot freight rates for LNG tankers remained stable:

  • TFDE type LNG carriers: Average daily freight at $60,70.7 thousand (+1%);
  • Two-stroke engine ships: Average daily freight at $87.4 thousand (+3%);
  • Steam turbine ships: Average daily freight at $28.1 thousand (+12%).

Although the price of bunker fuel decreased by 15% to $680 per ton, due to high freight and gas prices, overall maritime transportation costs remained on average $0.95/MMBtu higher than in the same period last year.