U.S. Was Top LNG Exporter In 2023

The US now leads the world in selling domestic natural gas to overseas customers, thanks to the rapid expansion of LNG liquefaction terminals on the US Gulf Coast, as reported by the trade publication Maritime Executive.

In December alone, about eight million tons of US natural gas departed from LNG terminals for buyers in Europe and Asia.

The pace of US exports jumped 15% year-on-year in 2023, driven by the operation of a new plant and the completion of repairs at another facility. The rate of growth has outdistanced the exports of Australia and Qatar, the world's other leading LNG producers.

However, the US has stiff competition: Qatar is ramping up for a massive expansion of its liquefaction facilities, enough to increase its output by two-thirds by the end of the decade.

In December alone, about eight million tons of US natural gas departed from LNG terminals for buyers in Europe and Asia, withdrawing 390 billion cubic feet (bcf) from the US domestic market. This accounted for about 12% of all US gas production for the month.

The US Energy Information Administration (EIA) assesses that “higher LNG exports result in upward pressure on US natural gas prices," and LNG production was responsible in part for high domestic natural gas prices in 2022.

Higher exports are expected as 17 more LNG plants are on track to be built in the US by 2028, and seven more are awaiting permitting decisions from the Federal Energy Regulatory Commission (FERC). Depending on global gas prices, this could double US LNG exports by the early 2030s, EIA assesses.

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