US on track to become world’s largest LNG exporter by end of 2022

Perspective shared by Shell, the International Gas Union and the U.S. Energy Information Agency (EIA)

The United States will become, at the end of 2022, the leading exporter of liquefied natural gas (LNG) surpassing Qatar and Australia, according to estimates by various institutions

According to information compiled from the company Shelll’International Gas Union and the US Energy Information Agency (EIA), the United States exported nearly 75 million tons of LNG in 2021. The country ranked third in the world during the financial year, after the Qatar (81.3 million tons) and theAustralia (83 million tons).

The EIA report published in December 2021 shows that the United States achieved its first LNG export in February 2016 and became the third largest exporter in 2020.

New terminals will be operational at the end of the current year, according to the American Agency. “With the new terminals coming into operation at the end of the year, the United States will have the largest LNG export capacity in the world”says the EIA.

The United States is seen as one of the key countries that could supply the growing demand for gas from Asia and Europe. The country multiplies its investments every year.

The United States exported 33 million tons of LNG in 2019, then 44.8 million tons in 2020 and nearly 75 million tons in 2021. Nearly 45% of these quantities are exported to Asia, 41% to Europe and the rest to the countries of the American continent.

The EIA report indicates that the United States alone will be able to supply 22% of LNG demand by the end of 2022.

According to estimates, the United States will maintain its position as the main exporter of LNG until 2025, to give way again to Qatar where new investments will be made.

In 2021, 26% of the LNG imported by European Union (EU) countries and the United Kingdom – the largest share – came from the United States, followed by the Qatar (24%) and the Russia (20%).

It is expected that the volume of LNG trade, which was 380 million tons in the world markets, will increase to 700 million tons in 2040.

In January 2022, the United States exported 4.5 million tons of LNG to Europe. Nearly a third of the gas consumed in Europe comes from Russia.

The United States intends to increase its gas exports to Europe to reduce Russian shares.