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The U.S. became the world’s biggest exporter of liquefied natural gas in 2023, with LNG shipments totaling 91.2M metric tons to overtake top suppliers Australia and Qatar, Bloomberg reported Tuesday.
Record U.S. production was driven primarily by the return to full service of Freeport LNG after being shuttered for months following a June 2022 fire, adding 6 metric tons, and full-year production from Venture Global LNG’s Calcasieu Pass facility, which tacked on 3 metric tons from 2022 levels.
Two new U.S. LNG projects are due to start production this year: Venture Global’s Plaquemines facility in Louisiana, and the Golden Pass joint venture project in Texas between Exxon Mobil and QatarEnergy.
At full capacity, the two projects would add another 38M metric tons/year from the U.S.
U.S. natural gas futures (NG1:COM) settled higher Tuesday, with the front-month February contract +2.1% at $2.568/MMBtu, but well off its earlier high of $2.675, helped by prospects of colder January weather lifting demand.
ETFs: (NYSEARCA:UNG), (BOIL), (KOLD), (UNL), (FCG)
