With the beginning of 2024, US overtook Qatar and Australia in LNG Exports in 2023. The resumption of production at the Freeport liquefied natural gas (LNG) terminal in Texas helped the US overtake Qatar and Australia.
In December, US LNG exports hit record monthly and annual highs, with analysts claiming this would position the US to overtake Qatar and Australia to become the world’s largest exporter of LNG in 2023.
Latest News: As of Reports from Year end 2023, U.S. was the top LNG exporter in 2023, with record production levels in December positioning the country to become the largest exporter of LNG in the world in 2023.
Full-year exports from the U.S. rose 14.7% to 88.9 million metric tons, largely driven by the return to full production of the Freeport LNG plant that had suffered a fire in 2022, and as others increased processing efficiency. Europe remained the main destination for U.S. LNG exports in December, with Asia as the second-largest export market.
Qatar was the largest LNG exporter in 2022, followed by Australia.
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United States VS other countries in terms of LNG production
As of 2023, the United States became the top LNG exporter globally, surpassing Qatar and Australia, who held the positions in 2022.
In the first half of 2023, the U.S. exported more LNG than any other country, averaging 11.6 billion cubic feet per day (Bcf/d). By contrast, Qatar exported 10.4 Bcf/d, while Australia exported 10.6 Bcf/d. These figures demonstrate the significant gap between the U.S.’s LNG production capabilities and those of other nations.
According to US Government data, the US exported 8.6 million tonnes (mt) of LNG from its terminals in December. The data showed that Qatar was the largest exporter of LNG in 2022, with Australia coming in second.
Alex Munton, director of global gas and LNG research at consultancy Rapidan Energy Group, said: “US record production was driven by two factors: the return of Freeport LNG to full service, which added 6mt and the full-year output of Venture Global LNG’s Calcasieu Pass facility that added 3mt more than in 2022.”
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In June 2022, an explosion at the Freeport LNG Plant in Texas led to cessation of production at the facility. By November 2023, it had returned to full output, with LSEG data showing that exports in 2023 rose 14.7% to 88.9mt, compared with 77.5mt in 2022.
Europe was the top destination for US LNG exports in December, with 61% of the total exports, a drop from 68% in November. Analysts at Rystad Energy told this decline was associated with warmer December temperatures in Europe and higher inventory levels.
European gas storage was 97% full at the beginning of December.