August 25, 2023 [Hydrocarbon Engineering]- The US exported more LNG than any other LNG-exporting country in the first six months of 2023, according to data from CEDIGAZ.
LNG exports averaged 11.6 billion ft3/d during this period, 4% higher than 1H22 and 9.5% higher than the 2022 annual average, according to data from the US Department of Energy’s LNG Reports.
Australia was the world’s second-largest LNG exporter in 1H23, with LNG exports averaging 10.6 billion ft3/d during this period, followed by Qatar at 10.4 billion ft3/d. The increase in LNG exports from the US was mainly the result of Freeport LNG’s return to service and continued growth in global LNG demand, particularly in Europe.
As in 2022, Europe remained the main destination for US LNG exports in 1H23, accounting for 67% of total US exports. US LNG exports to Europe increased by 14% compared with the 2022 annual average. Five countries: the Netherlands, the UK, France, Spain, and Germany, accounted for 77% of total US LNG exports to Europe.
US LNG exports set an all-time monthly record high of 12.4 billion ft3/d in April 2023 as Freeport LNG ramped up LNG production and Europe continued to increase LNG imports to compensate for lower pipeline imports from Russia and to refill storage inventories. Europe’s regasification capacity continued to expand in 2023 as new terminals were placed in service in Finland, Germany, Italy, and Spain, allowing those countries to import more LNG. After a mild winter, Europe ended the 2022–23 heating season with the most natural gas in storage on record, but it still relied on LNG and was refilling its storage inventories at a rapid pace in the spring and summer.
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