After years of market instability, tight supply conditions, and volatile prices, the global natural gas market is entering a new phase—characterised by a significant wave of liquefied natural gas (LNG) supply growth, backed up by an extensive orderbook of gas carriers on order in China and South Korea. To support transparency during this shift, the International Energy Agency (IEA) has launched a new tool: the Global LNG Capacity Tracker.

The online resource, now publicly available, provides real-time, detailed data on LNG liquefaction capacity expansions worldwide.

With approximately 670bn cu m per year of global LNG liquefaction capacity currently in place, the market is poised for unprecedented expansion. According to the IEA’s new tracker, nearly 290bn cu m per year of new LNG export capacity is expected to come online between 2025 and 2030—all from projects that have already secured final investment decisions (FIDs) and are now under construction.

This represents the largest wave of LNG capacity additions ever recorded, with the potential to reshape global energy flows and price dynamics over the next decade.

The trajectory of this buildout remains fluid. Factors such as construction delays, additional project approvals, progress on dormant but approved developments, and shifting market conditions could all impact the pace and volume of capacity that ultimately comes online. To address this, the tracker will be updated regularly, reflecting new developments as they unfold.

To match supply growth, record numbers of gas carrier newbuild contracts have been signed in the 2020s. Latest data from Clarksons Research shows there are 337 LNG carriers on order – equivalent to 56.1m cu m in capacity – representing 44.6% of the extant fleet, the highest extant/newbuild ratio of any commercial shipping sector.