U.S. Now World’s Largest LNG Exporter

The United States is now the world’s LNG exporter, after surpassing Australia and Qatar, according to brand-new information put together and shared by Bloomberg on Tuesday.

The United States exported 91.2 million metric lots of LNG in 2015, after the nation’s main export center, Freeport LNG, resumed operations after an eight-month hiatus following a fire in June 2022. On the other hand, EU nations were wanting to decrease their dependence on Russian gas and make up for Russia’s curtailment of pipeline gas into Europe.

Australia was the second-leading LNG exporter in 2023, while Qatar, the leading LNG exporter in 2022, decreased its exports by 1.9% in 2023, was available in 3rd.

This year is forming up to be another banner year for U.S. LNG. Endeavor Global LNG Inc. is set to launch a brand-new Plaquemines LNG center in Louisiana, and ExxonMobil and QatarEnergy are set to launch Golden Pass, an LNG center in Texas. In the Energy Info Administration’s (EIA) newest edition of its Short-term Energy Outlook (STEO), U.S. LNG exports are set to increase to 12.36 billion cubic feet daily, up from an approximated 11.81 billion cubic feet daily in 2023, and 10.59 billion cubic feet daily in 2022.

The Netherlands, the UK, and France were the primary locations for U.S. LNG exports in the very first half of 2023, according to the EIA. In the very first 6 months of 2023, Europe and the UK’s LNG imports surpassed imports by pipeline for the very first time on record, information from Refinitiv Eikon reveals. In December, Europe stayed the primary location for U.S. LNG at 61% of the overall exported. Asia is the second-largest export market for U.S. LNG.

By Julianne Geiger for Oilprice.com

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