For the first time, the United States (US) has emerged as the leading global exporter of liquefied natural gas (LNG), surpassing traditional frontrunners Australia and Qatar in 2023.
The US achieved a milestone by exporting a record 91.2 million metric tons of LNG, based on data compiled by Bloomberg up to December 31, 2023.
This significant increase in exports was largely fueled by the resumption of operations at the Freeport LNG facility in Texas, which had been closed for several months after a fire and explosion in June 2022.
Qatar, which was the top LNG exporter in 2022, experienced a decline in its export volumes for the first time since 2016, falling by 1.9% and slipping to third place in LNG exports.
Australia maintained its second position, with its export levels remaining relatively unchanged from the previous year.
Looking ahead, the US is set to further boost its LNG export capacity with the initiation of two new projects in 2023: Venture Global LNG Inc.’s Plaquemines facility in Louisiana and the Golden Pass project in Texas, a collaborative effort between Exxon Mobil Corp. and QatarEnergy.
These projects, once operating at full capacity, are expected to contribute an additional 38 million tons of LNG annually to the US’s export capabilities.
