Shorouk Express
BAKU, Azerbaijan, March 28. The U.S. continues
to lead the global LNG market, exporting 11.9 billion cubic feet
per day (Bcf/d) in 2024, according to data from the U.S. Energy
Information Administration (EIA), Trend reports.
This figure keeps the U.S. as the world’s largest exporter of
LNG, with exports from Australia and Qatar remaining stable at
around 10.2 Bcf/d to 10.7 Bcf/d over the past five years.
U.S. LNG exports held steady compared to 2023 despite unplanned
outages at export facilities, reduced natural gas consumption in
Europe, and limited capacity additions. However, the export
landscape shifted, with Asia’s share increasing from 26% (3.1
Bcf/d) in 2023 to 33% (4.0 Bcf/d) in 2024. Meanwhile, Europe
remained the largest destination, accounting for 53% of total
exports (6.3 Bcf/d), though exports to the region decreased by 19%
year-over-year.
The increase in U.S. LNG exports to Asia was particularly
notable in countries such as Japan, South Korea, India, and China,
which together accounted for 76% (3.0 Bcf/d) of the total exports
to the region. India saw the most significant rise in imports, with
an additional 0.2 Bcf/d in 2024.
While Europe’s LNG import capacity grew by over 40% between 2021
and 2024, some European countries reduced their LNG imports due to
mild winter weather and high storage levels. Notably, Germany’s LNG
imports remained steady, but it recently cut regasification
capacity, citing operational costs.
In other regions, U.S. LNG exports also rose in Egypt, Brazil,
and Colombia. Egypt, which had previously been an LNG exporter,
began importing from the U.S. again for the first time since 2018
due to increased domestic consumption. Similarly, Brazil and
Colombia imported more LNG to compensate for reduced hydropower
generation during drought conditions.
In December 2024, the opening of the Plaquemines LNG Phase 1
facility marked the addition of the eighth LNG export terminal in
the U.S. This development is expected to further strengthen the
country’s position as the global leader in LNG exports.
