Annual LNG Report 2025

The 2025 edition of ACER's Annual LNG Report, published 13 May 2026, confirmed EU LNG imports reached a record 146 billion cubic metres (bcm) in 2025, with the United States supplying 58% of that volume — projected to rise to roughly 65% in 2026 as Russian short-term contracts wash out under the 25 April ban . Spot cargoes reported to ACER nearly doubled year-on-year, rising 78% from 550 to 980 in 2025. The report also models a full-year Hormuz Strait closure as creating a 27 bcm supply shortfall for the EU, and notes TTF was used as the price reference in 74% of all EU spot LNG trades — entrenching the Dutch hub as the de facto global LNG price benchmark.

ACER (the Agency for the Cooperation of Energy Regulators) has published an annual LNG market monitoring report since the commodity became material to European energy security following the 2022 Russian gas crisis. The report draws on mandatory REMIT transaction-reporting data plus terminal operator submissions, giving it uniquely comprehensive coverage of cargo provenance, pricing indexation, and trade structure across all EU member states. Unlike commercial price-reporting agency datasets, it is the only EU-wide statutory compilation of spot and term LNG flows.

The 2025 edition arrives as a political document as much as a market-monitoring one. European Commission Executive Vice-President Teresa Ribera warned in the same week of publication that Europe should "avoid replacing one energy dependency with another" — an implicit reference to the US LNG concentration the report quantifies . The EUR 117 billion spent on US LNG since 2022 and the projected 65% 2026 share mean that any disruption to US export capacity — weather events at Gulf Coast terminals, US domestic demand spikes, or tariff escalation — now propagates directly into EU wholesale gas prices in a way Russian pipeline disruption once did.