GECF: January LNG imports hit new record

Doha-based GECF said all regions except the Latin America & the Caribbean region recorded record high imports, with Asia Pacific and Europe driving most of the growth.

Notably, this was the first time since August 2025 that Asia Pacific’s incremental LNG imports exceeded those of Europe, despite the TTF maintaining a premium over Asia’s spot LNG prices during the month, GECF said.

European LNG imports reach new record

In January 2026, Europe’s LNG continued to rise, growing by 15% (1.81 Mt) y-o-y to reach a new monthly record of 13.82 Mt.

GECF said this marks only the second month in which Europe’s LNG imports have exceeded 13 Mt, following the first occurrence in December 2022.

The increase was driven primarily by stronger gas consumption, due to colder-than-usual weather and lower gas production.

According to GECF, the region continued to be the preferred destination for US cargoes, which provided a higher netback price compared to delivery into Asia Pacific.

At the country level, Belgium, Germany, Italy, Turkiye, and the UK, drove the increase, which offset weaker imports in France, Portugal, and Spain.

GECF said LNG imports increased in Belgium, Germany, and Italy, supported by stronger gas demand amid colder weather compared with a year earlier and higher flows of regasified LNG to Central Europe.

In Germany, imports were further boosted by the ramp-up of newly commissioned LNG terminals.

In the UK, LNG inflows rose despite weaker gas consumption, compensating for lower pipeline gas imports and declining domestic production.

In Turkiye, stronger gas demand and the start of several short-term LNG contracts lifted imports, which reached a monthly record in January, GECF said.

By contrast, France’s LNG imports declined due to weaker demand and higher pipeline gas supplies.

Meanwhile, firmer gas prices in North-West Europe, combined with a surge in LNG imports by Egypt and Turkiye, limited LNG inflows into Spain and Portugal despite stronger gas demand, with higher pipeline gas exports from France helping to offset the reduced LNG imports, GECF said.

Asia Pacific LNG imports up

GECF said thatAsia Pacific’s LNG imports increased sharply by 9 percent (2.16 Mt) y-o-y to 26.28 Mt, representing the strongest incremental increase since October 2024.

China reclaimed its position as the main driver of the region’s LNG import growth, while India, South Korea, Taiwan, and Thailand contributed to a lesser extent, together offsetting declines in Singapore, GECF noted.

China posted a second consecutive y-o-y increase in LNG imports after 13 months of decline, driven by stronger heating demand amid colder weather compared to January 2025 and a recovery in industrial gas consumption, GECF said.

Similarly, colder-than-normal temperatures in South Korea lifted heating demand and LNG imports.

In India, LNG imports rose following the start of some new LNG contracts and to compensate for declining domestic gas production, GECF said.

Higher gas-fired generation in Taiwan, linked to the phase-out of nuclear, also supported LNG imports.

In Thailand, lower pipeline gas imports contributed to increased LNG imports.

In contrast, Singapore’s LNG imports declined, mainly reflecting reduced imports from the US, GECF said.

Latin America and MENA

GECF said that LNG imports in the LAC region moved slightly lower by 0.06 Mt y-o-y to
reach 1.09 Mt.

Jamaica and the US Virgin Islands (USVI) drove the decline in the region’s LNG imports, while Colombia and Panama recorded large increases, GECF said.

The drop in Jamaica’s LNG imports reflects weaker power-sector gas demand amid ongoing
repair to its energy infrastructure caused by Hurricane Melissa.

At the same time, direct LNG trade between the US and Puerto Rico has reduced imports into the USVI, previously a regional redistribution hub, while declining gas production in Colombia has driven higher LNG imports, GECF said.

On the other hand, LNG imports in the MENA region rose by 68 percent (0.50 Mt) y-o-y to a monthly record of 1.25 Mt.

Egypt accounted for most of the increase, with LNG imports playing a key role in meeting domestic gas demand, GECF said.

LNG exports reach record high

GECF said that global LNG exports climbed by 15 percent (5.56 Mt) y-o-y to a record high of
42.39 Mt, marking the strongest monthly growth ever.

Higher exports from both GECF and non-GECF countries more than offset a slight decline in LNG re-exports.

Although LNG exports from both GECF and non-GECF countries increased year on year, stronger growth from non-GECF countries lifted their share of global LNG exports, GECF said.

The share of non-GECF countries rose from 51.3 šercent in January 2025 to 54.8 percent in January 2026.

Over the same period, the shares of GECF member countries and LNG re-exports edged down from 47.1 percent to 44.4 percent and from 1.6 percent to 0.8 percent, respectively.

GECF said the US, Australia, and Qatar remained the three largest LNG exporters during the month.