The US is exporting liquefied natural gas at record levels
Natural gas deliveries via pipeline to US liquefied natural gas (LNG) export facilities hit a record high in the first half of 2023, averaging 12.8 billion cubic feet per day (Bcf/d ), according to data from S&P Global Commodity Insights reported Monday by the Energy Information Administration.
Between January and June 2023, LNG feed gas averaged 8 percent more than the 2022 annual average and 4 percent more than the same period in 2022, the EIA found.
High demand in Europe in April caused LNG feed gas to hit a monthly record of 14.0 Bcf/d. In May and June, gas deliveries to export facilities decreased, to 13.0 and 11.5 Bcf/d respectively, due to the maintenance of some export terminals such as Sabine Pass and Cameron.
LNG feed gas levels are usually higher than LNG export levels because export terminals consume some of the feed gas to operate on-site liquefaction equipment, the administration notes.
According to EIA estimates, US LNG exports are expected to average 12.0 Bcf/d this year. Next year, average exports are expected to rise to 13.3 Bcf/d, thanks to the commissioning of two new LNG liquefaction projects: Golden Pass and Plaquemines.
Despite concerns over cost inflation, US LNG project developers have approved a record volume of export capacity this year, driven by surging global LNG demand and an increase in long-term contracts by customers wishing to increase energy security.
Earlier this month, NextDecade made the final investment decision for the first phase of a new LNG plant in Texas after securing $18.4 billion in financing. The first phase of the Rio Grande LNG will consist of three liquefaction trains and phase 1 has already secured long-term purchase commitments from buyers such as Shell, Exxon, TotalEnergies, Engie and several Chinese energy companies, as well as Portuguese Galp and Japanese Itochu Corporation.
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The article The US is exporting liquefied natural gas at record levels comes from Scenarios Economics .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/gli-usa-stanno-esportando-gas-naturale-liquefatto-a-livelli-record/ on Tue, 01 Aug 2023 07:00:37 +0000.