US LNG Exports Set Record as 2020 Closes
By Energy Administration Agency (EIA)
During the summer of 2020, monthly exports of LNG from the United States were the lowest in 26 months but have since increased, and in November, estimated LNG exports surpassed the previous record set in January 2020.
In the December 2020 Short-Term Energy Outlook, the U.S. Energy Information Administration (EIA) estimated that November U.S. LNG exports reached 9.4 Bcf/d, which was 93% of peak LNG export capacity utilization.
Several factors contributed to the increase in U.S. LNG exports in recent months.
International natural gas and LNG prices increased in Asia and Europe because global natural gas demand increased after COVID-19 restrictions were eased.
Global LNG supply fell due to unplanned outages at LNG export facilities in Australia, Malaysia, Qatar, Norway, Nigeria, and Trinidad and Tobago.
In addition, 2.7 Bcf/d of new U.S. LNG export capacity was added in 2020, and several U.S. LNG terminals affected by hurricanes and annual maintenance have resumed LNG shipments.
Principal contributor: Victoria Zaretskaya
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