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Image used for illustrative purpose. Container ship moored LNG (Liquefied Natural Gas) tanker moored in Valparaiso bay, Chile. Pierre-Yves Babelon, Getty Images
The United States has become the world’s largest liquefied natural gas (LNG) exporter during the first half of 2022, US Energy Information Administration (EIA) reported, citing data from Paris-based International Association for Natural Gas (CEDIGAZ).
US LNG exports increased by 12 percent year-on-year in the first half of 2022, averaging 11.2 billion cubic feet per day (Bcf/d) due to higher LNG export capacity, increased international natural gas and LNG prices, and growing global demand, particularly in Europe.
According to EIA estimates, installed US LNG export capacity has expanded by 1.9 Bcf/d nominal (2.1 Bcf/d peak) since November 2021.
International natural gas and LNG prices hit record highs in the last quarter of 2021 and first half of 2022.
Most US LNG exports went to the European Union (EU) and the UK during the first five months of this year, accounting for 64%, or 7.3 Bcf/d, of the total US LNG exports.
US provided 47 percent of the 14.8 Bcf/d of Europe's total LNG imports, followed by Qatar at 15 percent, Russia at 14 percentt, and four African countries combined at 17 percent.
The peak capacity utilisation at the seven US LNG export facilities averaged 87% during the first half of 2022, which is equivalent to 2021, the EIA report said.
(Writing by P Deol; Editing by Anoop Menon)
