Qatar leads LNG global exports by GECF producers

Qatar continues to lead LNG exports to the global market by GECF member countries, which constitute 48% of the total, latest data reveal.

Some 557 LNG cargoes were exported globally in January this year, the Doha headquartered Gas Exporting Countries Forum (GECF) said in its latest report.

Compared with the previous year, Indonesia delivered six more cargoes in 2025 thus far, Angola, Mexico and the US all increased shipments by three.

Angola recorded the largest percentage increase in 2025 thus far, at 100%, followed by Mozambique at 67%, the report said.

Spot charter rates for LNG carriers continued the downward trend of the recent months, GECF noted.

In January this year, the monthly average spot charter rate for steam turbine LNG carriers again fell by 2% m-o-m, to now reach $6,300 per day.

Moreover, this average charter rate stood at 83% less than one year ago, and was $54,600 per day lower than the recent five-year average price for the month of January.

Charter rates for the other segments of the global LNG carrier fleet also continued decreasing. The average spot charter rate for TFDE vessels fell by 9% m-o-m to reach $12,400 per day, while the average spot charter rate for two-stroke vessels fell by 11% m-o-m to reach $19,400 per day.

Market fundamentals continued to influence the charter market. In Europe, spells of colder than average temperatures have prompted higher demand from gas storage.

This driver, along with the ending of the transit of Russian pipeline gas through Ukraine, has tightened the regional balance, and consequently drawn cargoes away from Asia to Europe.

With the market already saturated with excess shipping capacity, the shorter voyages from Atlantic Basin suppliers to Europe is keeping downward pressure on charter rates.

In January, the average price of shipping fuels increased slightly, by 6% m-o-m, to reach $560 per tonne.

While this average price was 5% lower y-o-y, it was also 7% greater than the recent five-year average price for that month.

Last month, the LNG spot shipping costs for steam turbine carriers increased slightly, by just up to $0.07/mmBtu on certain routes.

This, GECF noted, was driven by the relatively small increases in the cost of LNG shipping fuels and the delivered spot LNG prices, juxtaposed with the small decline in the average LNG carrier spot charter rate when compared with the previous month.

Compared to one year ago, in January 2025, the monthly average spot charter rate was much lower, while the delivered spot LNG prices were marginally higher.

Consequently, LNG shipping costs were up to $0.41/mmBtu lower than in January 2024, GECF said.