The growth rate of global liquefied natural gas (LNG) trade in 2024 recorded 1.6%, as the total LNG exports around the world reached 411.5 million tons in 2024, compared to 405 million tons in 2023, according to the report titled ‘LNG and Hydrogen Development Report for Q4 2024, and the Industry State in 2024’ prepared by Wael Hamed Abdel Moati, LNG Expert at Organization of Arab Petroleum Exporting Countries (OAPEC).

The report revealed that the market share of Arab countries exporting LNG globally reached 26.4% in 2024, with total exports of 108.6 million tons.

Global demand also recorded about 412.8 million tons in 2024, compared to 406.3 million tons in 2023, with a growth rate of 1.6%, according to OAPEC estimations.

Meanwhile, the report indicated that the number of countries that announced plans and national strategies for hydrogen reached a total if 60 countries until the end of 2024, of which five are Arab countries.

The number of hydrogen production projects announced in Arab countries reached 127 projects until the end of 2024.

This comes as the world targets producing a total of 8 million tons of hydrogen by 2030, according to announced governmental targets.