Energy Insights: April 2023
Recent Trends in U.S. LNG Exports
- A significant number of U.S. liquefied natural gas (LNG) exports were redirected from Asia to Europe in 2022, according to the Energy Information Administration (EIA).
- LNG exports to Europe and Asia accounted for 94 percent of total U.S. LNG exports by volume in 2022, up from 83 percent in 2021.
- LNG exports to Europe increased by 119 percent, and LNG exports to Asia decreased by 45 percent between 2021 and 2022.
- The EIA’s March 2023 Short-Term Energy Outlook estimates that LNG exports will increase by 14 percent in 2023 and 5 percent in 2024 due as new capacity boosting projects come online.
- The average annual price of U.S. LNG exports increased by 60.7 percent between 2021 and 2022; from $7.62 per Mcf to $12.25 per Mcf in 2022, reflecting global LNG price increases. Germany paid the highest average annual price for U.S. LNG of all countries, at $20.02 per Mcf.
- In contrast, Henry Hub spot prices reached the 2022 monthly average peak of $8.81 per MMBtu in August, but prices have subsequently decreased by 73.1 percent to a monthly average of $2.38 per MMBtu as of February 2023.
|Continent||2019 Export Volume||2020 Export Volume||2021 Export Volume||2022 Export Volume||Volume Change (2021-2022)||Percent Change (2021-2022)|
Source: Map and table are based on data from Energy Information Administration; Excludes truck-delivered LNG. Exports
AGA Contact: Miles Vondra | email@example.com
In issuing and making this publication available, AGA is not undertaking to render professional or other services for or on behalf of any person or entity. Nor is AGA undertaking to perform any duty owed by any person or entity to someone else. Anyone using this document should rely on his or her own independent judgment or, as appropriate, seek the advice of a competent professional in determining the exercise of reasonable care in any given circumstances. The statements in this publication are for general information and represent an unaudited compilation of statistical information that could contain coding or processing errors. AGA makes no warranties, express or implied, nor representations about the accuracy of the information in the publication or its appropriateness for any given purpose or situation. This publication shall not be construed as including, advice, guidance, or recommendations to take, or not to take, any actions or decisions any matter, including without limitation relating to investments or the purchase or sale of any securities, shares or other assets of any kind. Should you take any such action or decision; you do so at your own risk. Information on the topics covered by this publication may be available from other sources, which the user may wish to consult for additional views or information not covered by this publication.
Copyright © 2023 American Gas Association. All rights reserved.