The U.S. Becomes World’s Top LNG Exporter

Shipping record volumes of LNG to Europe to help EU allies in their efforts to fill gas storage ahead of the winter

High demand in Europe, high natural gas prices, and increased export capacity made the United States the world’s largest exporter of liquefied natural gas (LNG) in the first half of 2022, the U.S. Energy Information Administration said on Monday.

U.S. LNG exports rose by 12% in the first half of 2022 compared with the second half of 2021, and averaged 11.2 billion cubic feet per day (Bcf/d) between January and June 2022, the EIA said, citing data from CEDIGAZ.

Thus, the United States beat Australia and Qatar, the other two major LNG exporters.

Spot LNG prices in Europe and Asia have held much higher than historical norms since the last quarter of 2021, and reached record highs earlier this year after the Russian invasion of Ukraine. Europe is importing growing volumes of American LNG as it looks to replace as much Russian pipeline supply as possible. Moreover, U.S. LNG export capacity has expanded by 1.9 Bcf/d nominal (2.1 Bcf/d peak) since November 2021, according to EIA’s estimates.

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