US becomes world's largest LNG exporter amid Ukraine war-driven demand, rising gas and power prices
Amid rising global energy prices and higher demand, the United States has become the world’s largest exporter of liquefied natural gas, the U.S. Energy Information Administration said Monday. Exports grew 12% in the first half of this year, compared with the latter half of 2021.
Related Knowledge Center: Liquefied natural gas
Driven by plentiful natural gas produced from shale plays, the United States began exporting liquefied natural gas in 2016 when the Sabine Pass terminal in Louisiana opened and shipped its first cargo. Since then, additional capacity, or trains, have been added to Sabine Pass, and terminals have become operational in Cameron Parish, La.; Hackberry, La.; Cove Point, Md.; and Corpus Christi, Texas. The Energy Information Administration projects that U.S. LNG export capacity will reach 8.9 billion cubic feet per day (Bcf/d) by the end of 2019, making it the third largest in the world, behind Australia and Qatar. The tariff war with China has the potential to impact some final investment decisions for additional terminals in the coming months.