Liquefied natural gas (LNG) is gas that has been cooled to a liquid state, at about −162 °C, for shipping and storage.
As a liquid, LNG takes up around 600 times less volume than gas at standard atmospheric pressure, which facilitates its transportation over long distances without the need of pipelines.
LNG production is called LNG liquefaction, which is supercooling natural gas into its liquid state.
The most common method for liquefying natural gas in large quantities is the cascade process, in which the natural gas is cooled by another gas which in turn has been cooled by still another gas – hence named the “cascade” process.
Intercontinental LNG transport travels by special tanker ships. LNG tankers are made of cryogenic steel, the double-walled tanks act like giant thermoses to keep the LNG cool during transportation.
LNG arrives to LNG terminals around the world. There it is “warmed” and returned to its gaseous state – this is called regasification. It is then transported by pipeline to distribution companies, industrial consumers, and power plants.
Most LNG terminals are onshore, while a build-out of Floating Storage and Regasification Units (FSRUs) affords emerging market countries the opportunity to tap the LNG market in smaller ways. FSRUs are multi-function vessels, which combine LNG storage and built-in regasification systems onboard a ship.
In its liquid state, LNG is odourless, colourless, non-corrosive, and non-toxic. LNG in a liquid form does not burn because it does not contain oxygen.
Natural gas and LNG are the cleanest fossil fuels, producing 40% less carbon dioxide (CO2) than coal and 30% less than oil, thus making a positive contribution towards solving the climate crisis.
Over the past decade, the LNG market has undergone significant changes globally. Liquefaction export capacities have doubled in the past 10 years, with the U.S. alone increasing from 2 bcm (billion cubic metres) to 114 bcm. Over the next decade, they are expected to double again to 260 bcm, pending approval of proposed LNG projects.
On the demand side, changes have also been striking. In the past decade, many countries such as Germany, Finland, and Bangladesh have begun importing LNG. China, for example, has quadrupled its import capacity over the same period. As a result, the market has expanded and diversified into a truly global landscape.
Currently the largest LNG exporter countries are the United States, Australia, Qatar, and Russia.
Europe is already buying 57% of its LNG from the US, a share three times higher than in 2021. This increases price stability into European markets as Henry Hub is much less volatile than TTF index.
LNG – and US LNG in particular – will continue to play a crucial role in securing energy supply during Europe’s green transition as it represents the fossil fuel with the lowest carbon footprint. It supports the coal-to-gas transition and backs up weather-dependent renewable energy sources.
A strong US-EU partnership in LNG is crucial for both sides. Europe needs US LNG to cover critical electricity and heating needs, while the US benefits from the numerous jobs created from their massive liquefaction export projects. This transatlantic LNG partnership should provide both economies with economic stability over the coming decades.
The transatlantic energy partnership offers another significant advantage: the transportation routes between the US and Europe are stable and secure. This security of transportation is a critical factor, as it ensures reliable LNG shipments to Europe.
Geopolitical crises reinforce two things: first, that LNG is indispensable – without it Europe’s energy system simply wouldn’t have held together in recent years. Second, that LNG is not immune to geopolitical risk – it is global, and therefore vulnerable to global disruptions.
MET has built one of the most geographically diverse LNG import portfolios in Europe. In 2025, MET tripled its LNG activity – with 5.42 mtpa delivered into 17 different markets in Europe (Belgium, Croatia, France, Germany, Greece, Italy, Lithuania, the Netherlands, Spain, Turkey, and the UK) and beyond (Egypt, Jordan, India, China, Japan, and Korea).
Diversified LNG supply and flexible market actors like MET are essential not only for security of supply but also for price stability and resilience of European industry.
MET Group has been proactive in securing long-term LNG supply agreements. In 2024, MET entered into a 10-year LNG agreement with Shell to purchase US LNG with the intent to continue growing its long-term LNG portfolio. In 2026, MET and Shell signed a non-binding Memorandum of Understanding (MpoU) to expand their existing long-term cooperation in LNG and gas trading. In addition, MET will receive its first ever owned LNG vessel in 2027 that will help expanding the shipping business from spot and mid-term charters to long term ownership.