GLNG: US positioned to become world’s largest LNG exporter as three more projects look set to be approved

The US is poised to take over top spot as the world’s biggest exporter of liquefied natural gas for years to come as three proposed LNG export terminals inch closer to receiving financial approval. With the largest global LNG supply additions out to 2030, the US is on track to easily surpass Australia.

US LNG exports reached 10.6bn cubic feet (300mn cubic metres) per day in 2022, placing it just behind global leader Australia, which exported 10.7 bcf (303 mcm) per day and slightly ahead of Qatar, which sent 10.5 bcf (297 mcm) per day abroad last year.

And with a rosy outlook ahead for global LNG demand, particularly in Europe and Asia, US developers are seeking to ramp up production. Around a dozen developers are hoping to make final investment decisions (FIDs) in 2023. Several of these projects have been stalled before, but are likely to move ahead this time with the improved market outlook.

Already three proposed projects are believed to have found enough customers to be given the greenlight this year according to Reuters. The projects include Energy Transfer LP’s 16.45mn tonne per year Lake Charles LNG terminal in Louisiana, Sempra Energy’s 11mn tpy Port Arthur export facility in Texas and NextDecade Corp’s 27mn tpy Rio Grande terminal in Brownsville, Texas.