BAKU, Azerbaijan, April 7. The average daily LNG exports from the US in 2023 reached 11.9 billion cubic feet per day (Bcf/d), marking a 12-percent increase compared to 2022, Trend reports.
According to the US Energy Information Administration Agency (EIA), last year, the US was the top exporter of LNG worldwide.
During the same period, Australia and Qatar, the other major LNG exporters, consistently exported between 10.1 Bcf/d and 10.5 Bcf/d annually from 2020 to 2023, according to Cedigaz data. Russia and Malaysia ranked fourth and fifth globally as LNG exporters, averaging 4.2 Bcf/d and 3.5 Bcf/d respectively in 2023.
The increase in US LNG exports in the first half of 2023 was driven by the return to service of Freeport LNG in February, which reached full production by April, the EIA explained. Strong demand for LNG in Europe, especially amidst high international natural gas prices, further supported the rise in US exports. Monthly records were set in late 2023, with exports peaking at 12.9 Bcf/d in November and 13.6 Bcf/d in December.
Europe, including Türkiye, continued to be the primary destination for US LNG exports in 2023, accounting for 66 percent (7.8 Bcf/d) of total exports, followed by Asia at 26 percent (3.1 Bcf/d), and Latin America and the Middle East combined at 8 percent (0.9 Bcf/d).
According to the EIA, Europe's reliance on LNG imports increased to offset the loss of natural gas previously supplied by Russian pipelines. LNG import capacity in Europe expanded, with expectations of further growth by over one-third between 2021 and 2024.
Meanwhile, the Netherlands, France, and the UK were the top importers of US LNG, collectively receiving 35% (4.2 Bcf/d) of all US exports. In Asia, Japan and South Korea were the main recipients, each receiving 0.8 Bcf/d of U.S. LNG exports in 2023. Japan, China, and India also increased their imports compared to the previous year. Additionally, the Philippines and Vietnam began importing LNG in 2023.
In Latin America, Brazil's LNG imports decreased as the country primarily relied on hydropower for electricity generation, the EIA noted. Brazil's highest LNG imports were recorded in 2021 during a severe drought.