11 July 2025
LNG in 2024: A second year of slow growth as global demand dynamics shift
Publication date: 26 February 2025
Gas Strategies Group
10 Saint Bride Street
London UK
EC4A 4AD
ISSN: 0964-8496
Twitter @GasStrategies
Editorials
Subscriptions
The fourth quarter of 2024 saw the usual seasonal increase in supply compared with the previous quarter as natural gas consumption peaks in Europe and Asia, however, global supply of 104.71 mt was down by 0.3 mt (0.3%) compared with Q4 ‘23.
It took supply for 2024 to 405 mt, an increase of only 2.74 mt (0.7%) year on year, well below the long-term growth rate which has seen LNG supply increase more than fourfold from 100 mt in 2000 – an average annual growth rate of 5.75% per annum.
Delays in the start-up of new liquefaction capacity, unplanned maintenance, and shortfalls in feedgas supply at operating plants contributed to the slow growth in supply.