USA LNG export and wars in Ukraine and Palestine by the smartest person on the internet

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The United States exported more liquefied natural gas (LNG) than any other country in the first half of 2023 (1H23), according to data from CEDIGAZ. U.S. LNG exports averaged 11.6 billion cubic feet per day (Bcf/d) during this period, 4% (0.5 Bcf/d) more than in 1H22, according to data from the U.S. Department of Energy’s LNG Reports. Australia exported the world’s second-largest volume of LNG in 1H23, averaging 10.6 Bcf/d, followed by Qatar at 10.4 Bcf/d. The increase in U.S. LNG exports mainly resulted from Freeport LNG’s return to service as global LNG demand remained strong with continuing growth, particularly in Europe.

US October LNG exports climb to second highest level on record

Sanctions and War Make US LNG Even More Vital in 2024

Conflicts from Russia to Gaza are elevating America’s role in supplying the fuel as the global market tightens.

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The US is solidifying its position as the world’s top supplier of gas in a market upended by war.

The nation slapped sanctions last week on a soon-to-start Russian liquefied natural gas project over the invasion of Ukraine. Traders are still dissecting the specifics, but the measures against the Arctic LNG 2 facility could curb deliveries to its foreign owners, which include the Japanese government and France’s TotalEnergies SE.

On top of that, a widening of the Israel-Hamas war threatens to disrupt shipments through the Strait of Hormuz, a key waterway for fuel transports. It has already affected Egyptian LNG exports to Europe, and another conflict in Mozambique has kept a massive project led by TotalEnergies in limbo.

That’s increasing the significance of a slate of new US LNG facilities set to come online next year, which will play an even larger role in feeding import terminals in Europe and provide fuel for rapidly expanding economies in Asia.

The US projects include Venture Global LNG Inc.’s Plaquemines in Louisiana, an expansion at Cheniere Energy Inc.’s Corpus Christi facility in Texas and the Qatar-backed Golden Pass, also in Texas. Unlike hiccups elsewhere in the world, they appear to be ahead of schedule.

The Cheniere Energy Inc. LNG export terminal under construction in Corpus Christi, Texas, in 2018.Photographer: Eddie Seal/Bloomberg

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The plants will make up more than 70% of the new supply that comes online in the next 12 months — and that percentage will be even higher if sanctions scupper the start of the Arctic project in Russia. They will cement the US as the world’s top supplier.

Global gas markets have been tight since Russia’s invasion of Ukraine last year and need every single new molecule to help balance demand. US LNG was key for Europe to reduce dependence on Russian pipeline gas — a trend that may accelerate as nations increasingly rely on the fuel for the energy transition.

Of course, American LNG faces some difficulties. The recent logjam in the Panama Canal threatens to delay or elongate deliveries to Asia, as most US exports are from the Gulf Coast. And infrastructure is vulnerable to hurricanes or extreme weather.

Still, the US is accumulating unmatched power and influence in the market. And conflict only makes it more vital.

  • Stephen Stapczynski, Bloomberg News

Exports of US LNG soar as Europe weans itself off Russian gas

Issued on: @September 6, 2023 10:39 PM (GMT+8)

04:56FOCUS © FRANCE 24

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Ever since Russia invaded Ukraine last year, Europe has been forced to find an alternative to Russian gas, which it relied heavily on. The European Union has turned to liquefied natural gas, or LNG. Last year, the United States became the number one exporter of LNG and that trend has continued this year, despite alarm over the potential environmental consequences of extracting this resource. FRANCE 24's Fanny Allard reports from Louisiana, with Wassim Cornet.