The US has become the world’s largest LNG exporter in 2022. According to research LNG exports have increased by 12% between January and June compared to levels in 2021. The average amount of gas being exported each day has reached 11.2 billion cubic feet.
The rise in LNG being exported from the US has mostly come from increased global demand for LNG and a price rise in global markets. Particularly more of a demand coming from Europe as they are receiving a lack of gas from Russia, therefore needing to make up supply from other places. According to experts, the LNG capacity has also expanded a lot in the US allowing them to supply more to other places.
Global natural gas and LNG prices have hit record highs over the past year as demand has risen above supply. However, the US has been quickly meeting that demand, especially in the UK as they supplied a lot of our natural gas market. However, with Russia reducing supplies further, even with the US, it’s unlikely anyone will be able to shield themselves from high gas prices this winter.
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