Get economic benefits, the United States became the largest exporter of LNG during the Ukrainian crisis

According to Reuters reported on July 25, US government agencies said that due to the significant increase in supply to Europe during the Ukrainian crisis, the United States has become the world's largest LNG exporter in the first half of this year.

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The Energy Information Department (EIA) under the US Department of Energy (EIA) quoted the International Natural Gas Association (CEDIGAZ) data on Monday that it was posted on its website that compared with the second half of 2021, the US LNG export volume increased by 12%in the first half of 2022, reaching an average of per average per day to reach an average of every each. 11.2 billion cubic feet (about 320 million cubic meters per day) a day.

Data show that in the first five months of this year, the total amount of natural gas exports in the United States was about 71%, that is, 8.2 billion cubic feet a day exported to the European Union and the United Kingdom. During the Ukrainian crisis, the United States increased its supply to Europe, which has accounted for 54%of the total import volume of LNG (14.8 billion cubic feet per day), the second -ranked Qatar accounted for 15%, Russia accounted for 14%, and there were four other. African countries accounted for 17%.

EIA said that the increase in the export capacity of the United States, the rise in international gas prices, and the increase in global demand, especially the increase in demand from Europe, which has promoted the growth of US liquefied natural gas exports.

In the fourth quarter of 2021 and the first half of 2022, the price of international gas and liquefied natural gas reached a record high. Since October 2021, the transaction price of the European benchmark TTF natural gas futures has been a record high. In the first half of 2022, the average price of TTF was $ 30.94 per million British thermal units.

Reuters mentioned that Europe is trying to reserve enough natural gas before the winter comes to make up for the gap caused by Russia's reduction. After the US and its allies imposed sanctions on Russia, Russia's natural gas supply to the European continent had been severely reduced.

It is reported that in recent years, as countries around the world seek the diversification of energy sources and eliminate more severe coal -fired power generation in the use of pollution, the use of liquefied natural gas has increased significantly. However, it takes several years to build new facilities. It is expected that the United States will not wait at least 2024 to increase new export capabilities.

EIA said that since November 2021, US LNG export capabilities have been increased by approximately 1.9 billion cubic feet/day (about 53.8 million cubic meters/day). EIA estimates that as of July, the average liquefied natural gas production capacity in the United States was 11.4 billion cubic feet/day (about 320 million cubic meters/day), and the short -term peak capacity was 13.9 billion cubic feet per day (about 390 million cubic meters per day).

Reuters said that in June of this year, a fire caused the liquefied natural gas export facilities of the US exporter Free Port LNG. As a result, compared with the average export volume (11.4 billion cubic feet/day) in the first five months of 2022, the US LNG exports decreased by 11%in June. The company is expected to resume some liquefaction operations in early October and fully restore production capacity by the end of the year.

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