Will the US Become the World’s Largest LNG Exporter in 2023?
In 2022, US exports of LNG, amounting to 76.4 million tonnes, were the third highest globally, after Australia and Qatar, according to energy research and consultancy firm Wood Mackenzie. Cheniere Energy was the largest US LNG exporter in 2022, producing 44 million tonnes, of which 72% were directed to Europe. The second largest US LNG…
Cheniere Energy was the largest US LNG exporter in 2022, producing 44 million tonnes, of which 72% were directed to Europe. The second largest US LNG export facility, Freeport LNG, is also set to resume in March, with Woodmac expecting the US to easily exceed its 2022 figures and become the world’s largest exporter this year.
Record prices and need for energy security are driving huge momentum for US LNG projects that may see more than $100 billion in investment before the end of the decade, according to a report published in February by the global energy consultancy.
At least 16 new LNG projects are planned on the US Gulf Coast, with these projects either under construction or in the pre-final investment decision (FID) stage potentially adding between 70 million and 190 million tonnes per year of LNG capacity by 2030, WoodMac said.
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