Global LNG prices by select region 2021

South Korea had the highest landed price of liquefied natural gas (LNG) in the world as of October 2021. South Korea's landed price of LNG stood at 35.43 U.S. dollars per million Btu at this time, compared with the United States' (Lake Charles) price of just 5.43 U.S. dollars per million Btu. LNG landed prices refers to the price that is received at the regasification terminal. These prices are determined by a netback price which is based on the effective price for a seller or producer at a defined location. The global trade volume of LNG has steadily increased over the last few decades.

LNG demand growth

Increased gas demand and improved liquefaction technology has prompted growth in the gas market and the entry of new players. Traditionally, LNG prices were strongly influenced by crude oil, however, as the market grows, the LNG market has begun to develop independent benchmarks. Japan, China, and South Korea are currently leading in LNG imports, with almost half of the growth from China alone. However, this growth is expected to soften as pipelines from Russia begin to supply China with LNG in the coming years.