The global liquefied natural gas sector is advancing rapidly, with significant new capacity under development. The market is characterized by a surge in project sanctions, a growing volume of uncontracted output leading to increased commoditization and spot trading, and strong demand from Europe and Asia. Floating LNG (FLNG) is gaining momentum due to lower capital expenditure and security benefits. This summary details key regional developments and project outlooks for 2026 and beyond.

Market Overview and Trends

The sector sanctioned 96 billion cubic metres of new capacity in 2025, the second-highest year on record. Approximately 300 Bcm per annum of new export capacity is expected online globally by 2030. This influx is leading to more LNG being traded on the spot market by intermediaries and portfolio players, increasing commoditization. Europe remains a crucial destination as it seeks alternatives to Russian gas, while Asian demand growth is not expected to match the full supply increase.

North America

The United States, the largest source of seaborne LNG, accounted for most Final Investment Decisions (FIDs) in 2025, including projects like CP2 and Port Arthur LNG Phase 2. More sanctions are possible in 2026, including a Phase Two FID for Venture Global's CP2 and a potential decision from Delfin LNG. North America's share of global LNG supply is forecast to rise from 21% in 2024 to 32% by 2030. In Canada, Shell’s LNG Canada Phase 2 could reach FID, and the Ksi Lisims FLNG project in British Columbia may be sanctioned in 2026 once output is contracted.

Middle East

The region is set to add about 80 million tonnes per annum (tpa) of capacity in the next five to seven years. Qatar, the largest producer, could add 65 million tpa through its North Field expansion. A final investment decision for the North Field West (NFW) phase is anticipated in the first half of 2026, which would boost Qatar's total export capacity to 142 million tpa by the early 2030s. In Oman, expansion of the Qalhat complex with a new 3.8 million tpa train is likely to progress to the engineering, procurement, and construction stage in 2026. In the United Arab Emirates, the 9.6 million tpa Ruwais LNG facility is under construction and expected to begin operations in 2028.

Russia

Key Russian LNG projects face severe challenges from international sanctions. EU imports of Russian LNG under short-term contracts are set to halt by April 2026, impacting the Novatek-led Yamal LNG project. Sanctioned projects like Arctic LNG 2 and Portovaya LNG must find new customers in Asia or South America, requiring longer voyages with specialized ice-class carriers. Novatek may require a third offshore transshipment unit to manage supplies to new regions.

Asia Pacific

In Australia, first LNG cargoes from Santos’ Barossa project are expected in 2026, while Woodside aims to ship its first cargo from the Scarborough project in the second half of 2026. Woodside's Browse LNG project awaits FID. In Indonesia, Inpex targets a 2027 FID for its Abadi LNG project. Eni plans a farm-down of a stake in its North Ganal PSC in the second half of 2026. In Papua New Guinea, the TotalEnergies-operated Papua LNG project, expecting up to 6 million tpa, now anticipates FID in late 2026 or 2027.

Africa

Onshore projects in Africa have faced significant delays