U.S. Dominated Global LNG Exports in 2023: EIA

The U.S. exported more liquefied natural gas compared to any other nation in 2023, according to an April 1 report published by the U.S. Energy Information Administration.  U.S. LNG exports averaged 11.9 billion cubic feet per day (Bcf/d) during 2023, up 12 percent from the previous year. Annual LNG exports from Australia and Qatar, the two other largest exporting countries, ranged between 10.1 and 10.5 Bcf/d from 2020 to 2023. Meanwhile, Russia and Malaysia, also significant exporters, averaged 4.2 Bcf/d and 3.5 Bcf/d, respectively, in 2023.

The increase in U.S. LNG export volumes during 2023 can be attributed to the Freeport LNG terminal commencing operations in February and returning to capacity in April. The Freeport LNG export facility had ceased operations in June 2022, following the breakout of a fire. Moreover, robust demand for LNG in Europe and high gas prices, due to the Russian invasion of Ukraine and the subsequent decline in Russian pipelined gas to Europe, made Europe financially attractive for LNG shippers.

U.S. LNG exports established continuous records during November and December 2023, reaching 12.9 Bcf/d and 13.6 Bcf/d respectively. The agency estimated that utilization of U.S. LNG export capacity averaged 104 percent of nominal capacity and 85 percent of peak capacity across the seven U.S. LNG terminals operating in 2023.

The region receiving the highest volumes of U.S. LNG in 2023 was Europe, which accounted for 66 percent of total U.S. LNG exports, followed by Asia at 26 percent and Latin America and the Middle East with a combined eight percent.

European countries continued to import high volumes of LNG during 2023, following the shift in global trading dynamics following the Russian invasion of Ukraine. Europe’s LNG importing capacity continued to increase in 2023 and the agency expects it to rise by more than one third between 2021 and 2024. U.S. LNG exports to Japan, South Korea, China and India also increased during 2023, compared to 2022. Moreover, countries such as Vietnam and the Philippines began importing U.S. LNG in 2023.