June 22, 2024

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By 2022, the United States will be the world’s largest LNG exporter

Tanker for carrying LNG

War Scott Tsavino

(Reuters) – The United States is set to overtake Qatar and Australia to become the world’s largest liquefied natural gas (LNG) exporter by 2022.

In a year when China and other major economies in Europe and Asia struggled to get enough supplies for heating and power generation, the United States had the largest supply – growing in the coming years.

Global demand for LNG has reached record levels every year since 2015, mainly due to increased demand in China and other parts of Asia. Much of that global hunger has been met by a steady increase in US LNG exports, which are expected to set new records each year from 2016 and continue until 2022.

The U.S. Energy Information Administration estimates that US LNG exports will reach 11.5 billion cubic feet (bcfd) per day by 2022. This is 22% of the global LNG demand of 53.3 bcfd expected next year, according to Goldman Sachs researchers. Today it surpasses Australia and Qatar, two major exporters.

One billion cubic feet of gas a day is enough for about 5 million households in the United States.

The United States is expected to be the largest LNG exporter by 2025, when Campo do Norte’s expansion service begins, and Qatar regains its lead. But if some US developers start building new LNG export factories, the US may not give up the crown.

So far in 2021, most of US LNG exports went to Asia, with about 13% going to South Korea, 13% to China and 10% to Japan, according to US energy data. By 2020, when 13% of US LNG went to South Korea, 12% to Japan and 9% to China, these were the top three.


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