Japan and China have some of the highest spot prices for liquefied natural gas. In January 2024, customers in Japan and China paid approximately 10.05 U.S. dollars per million British thermal unit of LNG delivered. Destination markets in Europe and South America experienced slightly lower shipping costs. In the last few years, the global trade volume of LNG has increased notably, exceeding 500 billion cubic meters shipped.

LNG demand growth and largest destination markets

Increased gas demand and improved liquefaction technology has prompted growth in the gas market and the entry of new players. LNG prices were initially strongly influenced by crude oil, however, as the market grew it developed independent benchmarks. As one of the largest LNG importing countries, the price for LNG in Japan has become synonymous with the global benchmark.

Graph and download economic data for Global price of LNG, Asia (PNGASJPUSDM) from Jan 1992 to May 2025 about Asia, World, and price.

Global liquefied natural gas prices have shown less volatility in 2024 and 2025 than the years prior, with the benchmark price reaching **** U.S. dollars per million metric British thermal units in May 2025. This figure represents an increase from the same period a year earlier. The global LNG benchmark, which is largely influenced by Asian market trading, particularly Indonesian LNG in Japan, serves as a key indicator for the industry's pricing trends. Natural gas prices become less volatile The Asian LNG market experienced less turbulence in 2023 compared to the previous year, with price volatility dropping to ** percent. This relative stability followed an exceptionally volatile 2022, when LNG demand surged due to sanctions on Russian imports. The global natural gas price index, which encompasses European, Japanese, and American markets, stood at ***** index points in March 2025, showing a decrease of nearly ** points that month. This upward trend in natural gas prices contrasts with the comparatively lower crude oil price indices and follows greater heating demand in the winter months. Landed prices vis-à-vis export prices Due to its geographical location, Japan is exclusively reliant on LNG trading for its natural gas supply. As such, Japan's landed LNG spot price is often higher than for other markets, reaching approximately ***** U.S. dollars per million British thermal units in January 2024. By comparison, the world's largest LNG exporter, the United States, has seen its LNG export prices decrease to **** U.S. dollars per thousand cubic feet in 2023, down from ***** U.S. dollars the previous year.

CN: Liquefied Natural Gas (LNG): Market Main Price: Heilongjiang: Daqing data was reported at 4,700.000 RMB/Ton in 09 May 2025. This stayed constant from the previous number of 4,700.000 RMB/Ton for 02 May 2025. CN: Liquefied Natural Gas (LNG): Market Main Price: Heilongjiang: Daqing data is updated daily, averaging 4,925.000 RMB/Ton from Dec 2023 (Median) to 09 May 2025, with 72 observations. The data reached an all-time high of 6,375.000 RMB/Ton in 29 Dec 2023 and a record low of 4,325.000 RMB/Ton in 08 Mar 2024. CN: Liquefied Natural Gas (LNG): Market Main Price: Heilongjiang: Daqing data remains active status in CEIC and is reported by Shandong Longzhong Information Technology Co., Ltd.. The data is categorized under China Premium Database’s Energy Sector – Table CN.RBP: Liquefied Natural Gas (LNG): Market Price.

CN: Liquefied Natural Gas (LNG): Market High Price: Chongqing data was reported at 4,617.500 RMB/Ton in 09 May 2025. This records a decrease from the previous number of 4,633.330 RMB/Ton for 02 May 2025. CN: Liquefied Natural Gas (LNG): Market High Price: Chongqing data is updated daily, averaging 4,497.000 RMB/Ton from Feb 2020 (Median) to 09 May 2025, with 274 observations. The data reached an all-time high of 8,880.000 RMB/Ton in 25 Feb 2022 and a record low of 3,200.000 RMB/Ton in 23 Oct 2020. CN: Liquefied Natural Gas (LNG): Market High Price: Chongqing data remains active status in CEIC and is reported by Shandong Longzhong Information Technology Co., Ltd.. The data is categorized under China Premium Database’s Energy Sector – Table CN.RBP: Liquefied Natural Gas (LNG): Market Price.

Gas export to Japan has become an important source of revenue for Indonesia since the 1970s. Traditionally, the gas was priced with linkage to the oil price. However, changes in the market during the early 2010s has put pressure to this traditional pricing mechanism. Using the Vector Auto-regression (VAR) approach, this research aims to understand whether the spot LNG import pricing in Japan is moving away from JCC linkage or not, and the extent of the change if there is any. LNG price analyzed in this research is the Japanese spot cargo import price, published by the Japanese Ministry of Economy, Trade and Industry from March 2014 to November 2017. The Japanese LNG spot price was regressed against US Henry Hub (HH) and UK NBP gas hub prices, Japan Customs-Cleared (JCC) crude oil price, and Japan imported coal price in the same period.The historical decomposition of the VAR model suggests that the spot LNG price in Japan were increasingly affected by US Henry Hub and UK NBP gas prices, while the effect of JCC crude oil price is weaker, and Japanese imported coal having no significant effect towards Japanese spot LNG price. The impact of mature gas hub prices is also dynamic: HH is showing stronger effect in the mid 2016, then it changed to the domination of NBP in mid 2017.The result further indicates the increasing connectivity of gas price around the world, with US and UK price affecting Japanese gas price through spot LNG trade. Due to the demand condition in Japan and East Asian market in general, the continuation of US/European gas hub price effect is likely to happen until early 2020s, as the slight deficit in this region might be fulfilled by spot LNG import. Under the new domestic gas pricing regulation in Indonesia, the continuation of NBP impact towards gas pricing in Japan might reduce the price to the level at which fulfilling the increasing domestic gas demand is more efficient than exporting LNG.

An LNG tanker with a 160,000 cubic meter storage capacity could be chartered at an average spot price of 97,100 U.S. dollars per day in 2023. This was a notable increase compared to the previous year, with the global LNG tanker fleet having grown to 772 vessels at the end of 2023. LNG was in high demand throughout the year as many European markets turned away from Russian pipeline gas imports.

Graph and download economic data for Global price of LNG, Asia (PNGASJPUSDQ) from Q1 1992 to Q1 2025 about Asia, World, and price.

CN: Liquefied Natural Gas (LNG): Market Low Price: Fujian data was reported at 4,950.000 RMB/Ton in 02 May 2025. This stayed constant from the previous number of 4,950.000 RMB/Ton for 25 Apr 2025. CN: Liquefied Natural Gas (LNG): Market Low Price: Fujian data is updated daily, averaging 4,920.000 RMB/Ton from Feb 2020 (Median) to 02 May 2025, with 273 observations. The data reached an all-time high of 9,110.000 RMB/Ton in 04 Mar 2022 and a record low of 2,650.000 RMB/Ton in 19 Jun 2020. CN: Liquefied Natural Gas (LNG): Market Low Price: Fujian data remains active status in CEIC and is reported by Shandong Longzhong Information Technology Co., Ltd.. The data is categorized under China Premium Database’s Energy Sector – Table CN.RBP: Liquefied Natural Gas (LNG): Market Price.

As of March 2023, the shipping costs of LNG spot cargoes per million British thermal units that Japan imported from Cameroon amounted to 2.17 U.S. dollars. In contrast, the cost from Australia stood at 0.72 dollars per million British thermal units.

Natural gas fell to 3.66 USD/MMBtu on June 30, 2025, down 2.07% from the previous day. Over the past month, Natural gas's price has fallen 0.88%, but it is still 47.76% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Natural gas - values, historical data, forecasts and news - updated on June of 2025.

CN: Liquefied Natural Gas (LNG): Market Low Price: Xinjiang data was reported at 4,350.000 RMB/Ton in 09 May 2025. This records a decrease from the previous number of 4,400.000 RMB/Ton for 02 May 2025. CN: Liquefied Natural Gas (LNG): Market Low Price: Xinjiang data is updated daily, averaging 4,450.000 RMB/Ton from Feb 2020 (Median) to 09 May 2025, with 274 observations. The data reached an all-time high of 7,500.000 RMB/Ton in 29 Apr 2022 and a record low of 2,633.333 RMB/Ton in 12 Feb 2021. CN: Liquefied Natural Gas (LNG): Market Low Price: Xinjiang data remains active status in CEIC and is reported by Shandong Longzhong Information Technology Co., Ltd.. The data is categorized under China Premium Database’s Energy Sector – Table CN.RBP: Liquefied Natural Gas (LNG): Market Price.

TTF Gas fell to 33.43 EUR/MWh on June 27, 2025, down 0.20% from the previous day. Over the past month, TTF Gas's price has fallen 8.48%, and is down 3.11% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. EU Natural Gas TTF - values, historical data, forecasts and news - updated on June of 2025.

Snapshot img

LNG Carriers Market Size 2024-2028

The lng carriers market size is forecast to increase by USD 3600 billion, at a CAGR of 4.62% between 2023 and 2028.

The LNG carrier market is experiencing significant growth, driven primarily by the increasing demand for natural gas as a cleaner alternative fuel. This shift towards cleaner energy sources is a global trend, with numerous countries and industries seeking to reduce their carbon footprint. Additionally, fluctuations in oil and gas prices continue to influence the market dynamics. While the volatility in oil prices presents both opportunities and challenges, the long-term trend of declining oil prices is expected to boost the demand for LNG as a cost-effective alternative. However, the market faces several challenges. First, the high capital costs associated with building and operating LNG carriers can be a barrier to entry for new players.
Second, the complex nature of LNG value chains, including production, transportation, and regasification, requires extensive expertise and coordination among various stakeholders. Lastly, the lack of infrastructure for LNG storage and distribution in some regions limits the market's growth potential. Companies seeking to capitalize on the opportunities presented by the LNG carrier market must navigate these challenges effectively by building strategic partnerships, investing in infrastructure, and leveraging their expertise to deliver cost-effective and efficient solutions.

What will be the Size of the LNG Carriers Market during the forecast period?

Request Free Sample

The liquefied natural gas (LNG) carrier market continues to evolve, shaped by various market dynamics that impact different sectors of the industry. Emissions reduction is a key driver, with the adoption of dual-fuel engines and cryogenic technology in LNG carriers reducing greenhouse gas emissions. Weather routing and route optimization help improve fuel efficiency and reduce fuel costs in the LNG price-sensitive market. Gas infrastructure development, including liquefaction plants and LNG terminals, influences the supply and demand dynamics of the global LNG trade. Independent tanker operators and fleet management companies play a crucial role in optimizing vessel operations, ensuring safety systems, and maintaining fuel efficiency.

Ballast water management and crew training are essential components of LNG vessel operations, ensuring compliance with environmental regulations. The ongoing evolution of smart shipping and methane slip technologies contributes to the continuous optimization of LNG fueling and cargo handling processes. Freight rates, natural gas exports, and cargo hold capacity are influenced by the interplay of gas demand, LNG supply chain efficiency, and market volatility. The spot market and time charter contracts offer flexibility in the LNG transportation sector, while long-term contracts provide stability. LNG projects and fleet renewal are critical to meeting the growing demand for LNG fuel and maintaining a modern and efficient LNG carrier fleet.

The ongoing energy transition towards cleaner fuels and the increasing importance of data analytics and remote monitoring further shape the LNG carrier market's future trajectory. Pressure relief systems and hull design innovations contribute to the ongoing optimization of LNG transportation, ensuring safe and efficient gas transportation across diverse trade routes. The LNG infrastructure and tank capacity expansion continue to support the growth of the global LNG trade, making it a dynamic and evolving market.

How is this LNG Carriers Industry segmented?

The lng carriers industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Membrane
  Moss


Geography

  Europe

    Greece
    UK


  Middle East and Africa

    Qatar


  APAC

    Japan
    Malaysia


  Rest of World (ROW)

By Type Insights

The membrane segment is estimated to witness significant growth during the forecast period.

Liquefied Natural Gas (LNG) carriers play a crucial role in the global energy transition by transporting this cleaner fuel from production sites to consumers. Membrane containment systems, a key component of these carriers, consist of insulated cargo tanks enclosed within an inner hull and protected by an outer hull. The spaces between the hulls serve as ballast and provide additional safety during emergencies. Membrane containment systems offer enhanced visibility compared to moss-type containments, which have protruding structures that can obstruct sightlines. Furthermore, membrane tanks have a higher carrying capacity, with a 10.27% increase in loading capacity under identical ship dimensions.

Cryogenic technology is integral to LNG ca

CN: Liquefied Natural Gas (LNG): Market High Price: Sichuan data was reported at 4,787.500 RMB/Ton in 09 May 2025. This records an increase from the previous number of 4,783.330 RMB/Ton for 02 May 2025. CN: Liquefied Natural Gas (LNG): Market High Price: Sichuan data is updated daily, averaging 4,620.000 RMB/Ton from Feb 2020 (Median) to 09 May 2025, with 274 observations. The data reached an all-time high of 8,990.000 RMB/Ton in 25 Feb 2022 and a record low of 3,000.000 RMB/Ton in 12 Jun 2020. CN: Liquefied Natural Gas (LNG): Market High Price: Sichuan data remains active status in CEIC and is reported by Shandong Longzhong Information Technology Co., Ltd.. The data is categorized under China Premium Database’s Energy Sector – Table CN.RBP: Liquefied Natural Gas (LNG): Market Price.

The LNG Carrier Charter Service market is experiencing robust growth, driven by the increasing global demand for liquefied natural gas (LNG) as a cleaner energy source. The transition away from fossil fuels and the commitment to reducing carbon emissions are significant factors propelling this market. This demand is further fueled by the expansion of LNG import terminals worldwide, particularly in Asia and Europe, creating a strong need for efficient and reliable LNG transportation. We estimate the 2025 market size to be around $15 billion, based on industry reports indicating a consistently high CAGR (let's assume a CAGR of 8% for illustrative purposes) and considering the historical period of 2019-2024. Key players such as Eastern Pacific Shipping, BW Gas, and Golar LNG are actively shaping market dynamics through fleet expansion, technological advancements, and strategic partnerships. The market is segmented based on carrier size, charter type (spot vs. long-term), and geographical region, with considerable variation in regional growth rates reflecting variations in energy policies and infrastructure development. However, the market also faces challenges. Fluctuations in LNG prices and geopolitical instability can significantly impact charter rates and investment decisions. Furthermore, the increasing regulatory scrutiny on greenhouse gas emissions necessitates investment in more energy-efficient LNG carriers and potentially influences charter decisions. To overcome these hurdles, companies are focusing on optimizing operational efficiency, employing innovative technologies to reduce emissions, and diversifying their client base across various regions to mitigate risks. This continuous adaptation to market trends and regulatory changes is crucial for sustainable growth within the LNG Carrier Charter Service sector. The forecast period (2025-2033) presents significant opportunities for expansion, especially with the increasing focus on energy security and the continued global adoption of LNG as a transitional fuel.

UK Gas fell to 76.96 GBp/thm on June 30, 2025, down 1.29% from the previous day. Over the past month, UK Gas's price has fallen 5.35%, and is down 1.38% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. UK Natural Gas - values, historical data, forecasts and news - updated on June of 2025.

LNG prices were less violent in 2024 than the year prior. The Platts JKM (a global benchmark for LNG) had a price volatility of 61 percent in 2024. Price volatility reflects the daily change in prices. 2022 saw LNG prices fluctuate more than ever before due to sudden LNG demand from European consumers following sanctions on Russia.

Snapshot img

Liquefied Natural Gas (LNG) Bunkering Market Size 2025-2029

The liquefied natural gas (LNG) bunkering market size is forecast to increase by USD 1.59 billion at a CAGR of 21.9% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing supply of LNG and the rising demand for cleaner fuels in the maritime industry. However, this market is not without challenges. High capital requirements for using LNG as a marine fuel can pose a significant barrier to entry for some players. Furthermore, regulatory hurdles impact adoption, as various international and regional regulations governing LNG bunkering and safety standards continue to evolve. Supply chain inconsistencies also temper growth potential, as the availability and reliability of LNG supply infrastructure remain crucial factors in the market's development. As the world shifts towards reducing carbon emissions, LNG is becoming an increasingly popular choice as a marine fuel due to its lower carbon footprint compared to traditional fuel oils and crude oil.
To capitalize on market opportunities and navigate challenges effectively, companies must stay abreast of regulatory developments, invest in infrastructure, and build strong partnerships with suppliers and logistics providers. By doing so, they can position themselves to benefit from the growing demand for cleaner fuels and the expanding LNG bunkering market. As the maritime industry shifts towards eco-friendly shipping options, LNG-driven ships are gaining popularity due to their lower sulfur emissions compared to Heavy Fuel Oil (HFO), Marine Gas Oil (MGO), and MDO.

What will be the Size of the Liquefied Natural Gas (LNG) Bunkering Market during the forecast period?

Request Free Sample

The LNG bunkering market is experiencing significant activity and trends as the maritime industry transitions to cleaner fuels. LNG demand continues to rise, driven by the adoption of dual fuel engines and LNG as a fuel for boilers. LNG distribution is evolving with advancements in transfer systems, such as cryogenic transfer and vapor recovery, and the integration of LNG with renewable energy sources. LNG production is increasing, with new liquefaction plants coming online, and LNG pricing models are being refined through futures markets and risk management strategies. The LNG spot market is becoming more volatile, necessitating effective hedging and contract negotiations. Additionally, the demand for LNG bunkering is increasing due to the growing popularity of LNG as a cleaner alternative to traditional fuel sources in the maritime industry. Another significant factor influencing the LNG market is the fluctuations in global oil and gas prices, which can impact the profitability of LNG producers and consumers.
Sustainability is a key focus in the LNG industry, with initiatives to reduce emissions through carbon capture and the development of LNG biofuel and biogas. Gas-to-liquid technology is also gaining attention as a potential solution for decarbonizing the industry. LNG handling systems are being optimized for efficient and safe operations, with a focus on reducing emissions and minimizing environmental impact. The use of LNG in shipping is expanding, with the industry aiming for a greener future. Despite challenges, such as price fluctuations and the need for infrastructure investments, the LNG market remains a dynamic and innovative space, driving progress towards a more sustainable maritime sector. LNG is increasingly utilized in power generation, particularly in electric power and distributed power projects, as an alternative to traditional fossil fuels like coal and oil.

How is this Liquefied Natural Gas (LNG) Bunkering Industry segmented?

The liquefied natural gas (LNG) bunkering industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Tanker
  Ferry and ro-ro
  Container
  Others


End-user

  Commercial
  Defense


Product Type

  Ship-to-ship
  Port-to-ship
  Truck-to-ship
  Portable tanks


Geography

  North America

    US


  Europe

    Denmark
    France
    Germany
    Norway
    The Netherlands
    UK


  APAC

    China
    Japan
    Singapore


  Rest of World (ROW)

By Application Insights

The tanker segment is estimated to witness significant growth during the forecast period. The maritime industry is witnessing a shift towards cleaner and more sustainable marine fuels, with LNG emerging as a prominent alternative to traditional bunker fuels. Container shipping, a significant sector in the shipping industry, is leading the way in LNG adoption. LNG bunkering investments are surging to support the growing demand for carbon-neutral marine fuel. Offshore vessels and LNG stora

CN: Liquefied Natural Gas (LNG): Market High Price: Jiangsu data was reported at 4,750.000 RMB/Ton in 09 May 2025. This stayed constant from the previous number of 4,750.000 RMB/Ton for 02 May 2025. CN: Liquefied Natural Gas (LNG): Market High Price: Jiangsu data is updated daily, averaging 4,862.750 RMB/Ton from Feb 2020 (Median) to 09 May 2025, with 274 observations. The data reached an all-time high of 9,540.000 RMB/Ton in 08 Jan 2021 and a record low of 2,430.000 RMB/Ton in 17 Jul 2020. CN: Liquefied Natural Gas (LNG): Market High Price: Jiangsu data remains active status in CEIC and is reported by Shandong Longzhong Information Technology Co., Ltd.. The data is categorized under China Premium Database’s Energy Sector – Table CN.RBP: Liquefied Natural Gas (LNG): Market Price.