In November, U.S. liquefied natural gas (LNG) exports reached a record 10.7 million tonnes. The figure exceeds the November volume of the previous year by roughly 40%.
Impact on markets
Rising supplies are easing pressure on consumers in Europe and Asia, where seasonal cooling is lifting demand for energy. On Thursday European gas futures fell to a level not seen in over a year, while in Asia prices dropped to a monthly low.
Production trends
Supplies from the U.S. are trending upward, and forecasts indicate U.S. LNG exports could roughly double by the end of this decade.
Drivers of growth
In recent years the U.S. has become a key player in the global liquefied natural gas market, although it was previously a net importer. This resulted from the shale boom and large investments in gas liquefaction plants.
Demand for U.S. gas strengthened after the start of the full-scale war in Ukraine and Europe’s shift away from Russian pipeline gas. In 2022 the U.S. exported more gas to Europe than Russia for the first time.
- In 2025 Ukraine began actively importing American gas due to a crisis in its own production caused by Russian shelling.
- These supplies are planned to be secured on a long-term basis, for at least several decades.
