June 9, 2023

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US becomes king of LNG

US becomes king of LNG

In recent years, the United States (US) has become one of the largest exporters of liquefied natural gas (LNG) in the world. In the near future, it seems that they will be at the forefront.

Why is this important?

The US first began exporting LNG only in 2016 (except for Alaska, which shipped from 1969 to 2011). However, during those seven years, the country played a major role in the global natural gas market. Europe also imports large amounts of natural gas from the US by sea, especially since Russia shut down the gas pipeline.

Essence: Since 2018, U.S. export capacity has tripled, from 140 million to about 400 million cubic meters of gas per day, reports Forbes.

  • The main reason for this is that the country is rapidly building new infrastructure. There was only one export facility in 2016, but five more have been added since 2018.
  • At least three more will be added in the coming years. According to reports from Reuters Is there already sufficient demand for funding?

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