During the summer of 2020, monthly exports of LNG from the US were the lowest in 26 months but have since increased, and in November, estimated LNG exports surpassed the previous record set in January 2020, according to the US Energy Information Administration (EIA).
In its December 2020 ‘Short-Term Energy Outlook’, the EIA estimated that November US LNG exports reached 9.4 billion ft3/d, which was 93% of peak LNG export capacity utilisation.
Several factors contributed to the increase in US LNG exports in recent months. International natural gas and LNG prices increased in Asia and Europe because global natural gas demand increased after COVID-19 restrictions were eased and global LNG supply fell due to unplanned outages at LNG export facilities in Australia, Malaysia, Qatar, Norway, Nigeria, and Trinidad and Tobago.
In addition, 2.7 billion ft3/d of new US LNG export capacity was added in 2020, and several US LNG terminals affected by hurricanes and annual maintenance have resumed LNG shipments.
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