Doha-based GECF said the decline was led by Asia and Europe, partially offset by higher imports in the Middle East and Africa (MEA) and North America.
GECF noted that this was primarily driven by reduced LNG supply from the Middle East amid the regional conflict, which disrupted flows through the Strait of Hormuz and constrained Qatari exports to key markets.
For the period January to March 2026, global LNG imports reached 117.57 Mt, up 7.5 percent (8.19 Mt) y-o-y, supported by stronger imports from Asia, Europe, and MEA, GECF said.
European LNG imports edge down
In March 2026, Europe’s LNG imports edged down by 2.2 percent (0.29 Mt) y-o-y to 12.69 Mt, marking the first annual decline since December 2024, according to GECF.
The decrease was mainly driven by lower gas consumption, higher pipeline gas imports, and lower LNG supply from Qatar amid the escalation of the Middle East conflict.
At the country level, reduced imports in France, Spain, Turkiye, and the UK contributed to the decline, partially offset by increases in Belgium, Germany, and Portugal.
For the period January to March 2026, Europe’s LNG imports jumped by 11 percent (3.89 Mt) y-o-y to reach 40.75 Mt, GECF said.
In France and Spain, stronger pipeline gas imports reduced LNG imports, while lower gas demand in France and reduced Qatari supply to Spain further weighed on their imports.
Turkiye’s imports declined due to more favorable netbacks for US LNG deliveries to North West Europe, while weaker gas demand also reduced LNG imports in the UK, GECF said.
Conversely, higher LNG imports in Belgium and Germany were driven by increased re-exports of regasified LNG to neighboring markets, with lower pipeline gas imports also supporting Belgium’s intake.
In Portugal, LNG imports rose to offset reduced pipeline gas imports from Spain, GECF said.
Asian LNG imports decline further
GECF said that Asia’s LNG imports declined further in March, falling by 4.3 percent (0.94 Mt) y-o-y to 21.12 Mt, the lowest level for March since 2019.
The decline was primarily driven by reduced LNG supply from Qatar and the United Arab Emirates (UAE) amid the Middle East conflict.
China, India, and Pakistan led the drop, partially offset by higher imports in Taiwan and Thailand, GECF said.
For the period January to March 2026, Asia’s LNG imports reached 69.25 Mt, representing an increase of 3.8 percent (2.55 Mt) y-o-y.
Lower LNG imports from Qatar were the main driver behind declines in China, India, and
Pakistan, with reduced UAE LNG supply further weighing on India.
In China, a well-supplied gas market also dampened spot LNG demand, GECF said.
Despite reduced Qatari volumes, Taiwan increased LNG imports from Brunei, Canada, and the US to meet stronger gas demand, it said.
GECF noted that Thailand boosted imports of re-exported LNG from China to offset lower Qatari LNG supply and weaker pipeline gas imports.
Similarly, South Korea’s reduced LNG imports from Qatar were largely offset by higher imports from Canada and re-exported LNG from China, it said.
Latin America and MENA
GECF said that LNG imports in the Latin America and the Caribbean region rose by 8 percent (0.07 Mt) y-o-y to 0.94 Mt.
For the period January to March 2026, LAC’s LNG imports were down marginally by 0.7 percent (0.02 Mt) y-o-y to 2.75 Mt.
According to GECF, Chile’s imports increased due to higher volumes from Trinidad and Tobago and the receipt of its second LNG cargo from Australia’s QCLNG facility, supplied by Shell to meet contractual obligations.
Meanwhile, lower domestic gas production boosted Colombia’s LNG imports.
Conversely, reduced imports from Mexico and Nigeria weighed on Jamaica’s intake, while Panama’s imports declined due to lower imports from the US, GECF said.
On the other hand, LNG imports in the MENA region grew 38 percent (0.38 Mt) y-o-y to 1.38 Mt.
GECF said that growth was driven primarily by Egypt, which increased imports to offset lower domestic gas availability, more than compensating for a sharp decline in Kuwait’s LNG imports.
The drop in Kuwait’s imports was attributed to the impact of the Middle East conflict.
For the period January to March 2026, MEA’s LNG imports increased by 44 percent (1.17 Mt) y-o-y to reach 3.81 Mt, GECF said.
LNG exports drop
In March 2026, global LNG exports fell by 6.8 percent (2.62 Mt) y-o-y to 35.80 Mt, marking the largest decline since July 2020, GECF said.
Exports from GECF member countries drove the decline, which was partially offset by higher exports from non-GECF countries and an uptick in re-exports, GECF said.
For the period January to March 2026, global LNG exports increased by 7 percent (7.55 Mt) y-o-y to 115.94 Mt, driven by mainly by stronger exports from non-GECF countries
GECF said the share of non-GECF countries in global LNG exports increased sharply to 66.2 percent in March 2026, up from 53.1 percent a year earlier.
Similarly, the share of re-exports rose from 1.1 percent to 1.8 percent, while the share of GECF member countries declined from 45.8 percent to 32 percent.
GECF said the US, Australia, and Russia were the top LNG exporters during the month, with Qatar dropping out of the top three due to the impact of the Middle East conflict.
