US exports of LNG averaged 10.6 billion ft3/d in 2022, growing by 9% (0.8 billion ft3/d) in contrast with 2021, in keeping with the U.S. Vitality Data Administration’s Pure Fuel Month-to-month. The rise in US LNG exports was pushed by robust LNG demand in Europe, excessive worldwide pure gasoline costs, and expanded US liquefaction capability. US LNG exports to Europe elevated 141%, or 4.0 billion ft3/d, in contrast with 2021.
US LNG exports to Europe (the EU-27 plus the UK) elevated because of each pure gasoline provide challenges in Europe after Russia’s pipeline exports to the area declined to 40-year lows, and better costs at Europe’s pure gasoline buying and selling hubs relative to different LNG markets.
Europe turned the first vacation spot for US LNG exports in 2022, accounting for 64% (6.8 billion ft3/d) of whole exports. 4 nations – France, the UK, Spain, and the Netherlands – accounted for a mixed 74% (5.0 billion ft3/d) of US LNG exports to Europe.
In 2022, Europe elevated LNG imports to an all-time excessive of 14.9 billion ft3/d (annual common), 65% (5.9 billion ft3/d) greater than within the earlier yr, in keeping with information from Cedigaz. Just like 2021, three nations – the US, Qatar, and Russia – offered 73% (10.8 billion ft3/d) of Europe’s LNG imports in 2022. Excluding intra-regional commerce, the remaining 3.8 billion ft3/d of LNG imports was provided by 14 different LNG-exporting nations. Europe’s LNG import capability expanded in 2022, and we anticipate it to develop by one-third by the tip of 2024, as nations add new LNG regasification amenities and develop present import terminals.
US LNG exports to Asia declined by 46% (2.1 billion ft3/d) and averaged 2.5 billion ft3/d in 2022. Most nations in Asia diminished LNG imports from the US final yr in contrast with 2021. Probably the most notable discount was in US LNG exports to China, which decreased by 78% (1 billion ft3/d). China’s annual LNG imports from all nations declined 20% (2.1 billion ft3/d) in 2022 in contrast with 2021 and averaged 8.4 billion ft3/d—the bottom stage since 2019, in keeping with information from China’s Normal Administration of Customs.
US LNG exports to eight nations in Latin America declined by 62% (1.1 billion ft3/d) in 2022. The biggest decline was in exports to Brazil – by 77% (0.6 billion ft3/d) – as elevated availability of hydroelectric energy diminished pure gasoline demand for electrical energy era at Brazil’s pure gas-fired energy crops. In 2022, Kuwait was the one nation within the Center East that imported US LNG, with exports averaging 0.2 billion ft3/d, or twice 2021 ranges.
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