The United States is already the world’s largest exporter of liquefied natural gas (LNG) after the energy crisis in Europe and the shortage in China caused a rise in demand for US supplies, CNN reported.
In December, US liquefied gas exports reached more than 7 million tonnes, surpassing Qatar and Australia for the first time. The first liquefied gas tanker left the United States in 2016, becoming the world’s largest exporter in just six years amid a shale revolution that boosted local production and made America a leader in global energy markets.
According to the Energy Information Administration, the United States will be the largest exporter in 2022, with demand expected to remain high in Europe amid concerns over natural gas supplies from Russia amid rising tensions on the border with Ukraine.
Natural gas prices in Europe reached record highs in December as confidence in Russian supplies declined and the Nord Stream 2 pipeline saga entered a new phase. The EU imports about 40% of its natural gas from Russia, with much of its supply passing through Ukraine.
The EU has been trying for years to reduce its dependence on Russian gas, but many of the bloc’s members, especially those closer to Russia geographically, are almost entirely dependent on Moscow.
According to the Energy Information Administration, US export capacity will continue to grow in the coming years.