LNG export from the US to Europe has been skyrocketing

The US is the top LNG exporter. It wasn't a few years ago, but it is now. Here is an article from Reuters, dated Jul. 26, 2022:

Analysis: U.S. LNG exports to Europe on track to surpass Biden promise

July 26 (Reuters) - When U.S. President Joe Biden promised European leaders in March that he would help secure new supplies of liquefied natural gas to offset shortages from Russia’s invasion of Ukraine, his pledge was greeted with scepticism.
...
The United States is on track to blow past Biden’s March commitment of an additional 15 billion cubic meters of LNG for Europe this year, according to a Reuters analysis of export data compiled by Refinitiv, and to triple the pledge.

The No. 1 natural gas producer became the top LNG exporter in the world in the first half of 2022, the U.S. Energy Information Administration (EIA) said on Monday.
...
Through June of this year, the U.S exported about 57 bcm of gas as LNG with 39 bcm, or 68%, going to Europe, Refinitiv data shows. That is compared with 34 bcm, or 35%, of LNG exports shipped to Europe for all of 2021.
...
The unexpected shift is happening because shippers are willing to pay contractual penalties for failing to deliver to countries like Pakistan and diverting the cargoes to Europe, where the high price covers the fee and profit, analysts said.
...

lng1.jpg

I thought Russia was profiting from the energy crisis in Europe, but it looks like the US was also making a big money too. Here is another article from Reuters, dated Dec. 22, 2021:

U.S. to be world's biggest LNG exporter in 2022

...
The U.S. Energy Information Administration projects U.S. LNG exports will reach 11.5 billion cubic feet per day (bcfd) in 2022. That would account for roughly 22% of expected world LNG demand of 53.3 bcfd next year, according to analysts at Goldman Sachs and would outpace both Australia and Qatar, the two largest exporters at present.
...

lng2.jpg

Who gains the most from blowing up German-controlled underwater LNG pipes coated with 11-cm thick steel reinforced concrete, called Nord Stream? It's certainly not Russia.

H2
H3
H4
3 columns
2 columns
1 column
Join the conversation now