The US Energy Information Administration (EIA) reported US liquefied natural gas (LNG) exports set a record in November at 9.4 billion cubic feet per day, surpassing the previous record set in January 2020. This development is notably impressive considering monthly exports of LNG from the US during the summer were the lowest in more than two years.
The EIA reports several factors contributed to this increase in LNG exports, noting:
International natural gas and LNG prices increased in Asia and Europe because global natural gas demand increased after COVID-19 restrictions were eased and global LNG supply fell due to unplanned outages at LNG export facilities in Australia, Malaysia, Qatar, Norway, Nigeria, and Trinidad and Tobago. In addition, 2.7 Bcf/d of new U.S. LNG export capacity was added in 2020, and several U.S. LNG terminals affected by hurricanes and annual maintenance have resumed LNG shipments.
Increasing American energy exports and bolstering our energy capabilities is key to strengthening both the American economy and national security, as well as the US’ position internationally by providing reliable, affordable, cleaner-burning fuels to our allies around the globe.