U.S. LNG exports are transforming the global liquefied natural gas market. liquefied natural gasThe country is consolidating its position as the world’s leading supplier of the fuel. According to Kpler estimates, U.S. LNG exports reached 10.7 million tons this month, representing year-on-year growth of 40%.
This rebound coincides with a sharp decline in natural gas prices in Europe, which hit lows not seen in more than a year. Despite the onset of winter, the abundance of supply has put downward pressure on prices, suggesting a stability not seen in previous cold seasons.
Europe leads in LNG exports from the U.S.
Of the more than 10 million tons exported by the U.S. in October, approximately 69% were destined for Europe. This figure reflects the consolidation of the continent as the main market for U.S. exporters, progressively displacing dependence on Russian supply and opting for lower-emission alternatives.
At the same time, Asia received close to 2 million tons, indicating a diversified strategy on the part of U.S. producers, who are seeking to strengthen their presence beyond the Atlantic.
Cheniere Energy and Venture Global lead in shipments
The companies Cheniere Energy and Venture Global have established themselves as the main players in the U.S. LNG market, together accounting for 72% of exports in the month under review. Their facilities along the Gulf Coast have allowed them to scale up liquefaction capacity in the U.S. market. liquefaction capacity liquefaction capacity to meet international demand.
Both companies have capitalized on market conditions, not only by increasing production but also by closing long-term contracts with European importers seeking security of supply in an uncertain geopolitical context.
Source: Oil Price
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