Exit from the American LNG base surpassed Qatar in December, according to Bloomberg’s lead, but the top spot in the US could be short-lived.
The US ranked number 1 in the world for shipping natural gas for the first time last month, when the shipment reached Europe without electricity.
Exit from the U.S. territory over Qatar in December after a jump out of the Sabine Pass and Freeport areas, according to Bloomberg’s investigation into the ship. Cheniere Energy Inc. said last month that a new section for the construction of its Sabine Pass site in Louisiana made its first inventory.
The transformation of shale gas, combined with billions of dollars of business in the hydroelectric power plant, has transformed the US from LNG exports into the largest exporter in less than a decade. Gas production has risen by almost 70% since 2010 and the country is expected to have the largest share in the world by the end of 2022 when Venture Global LNG’s Calcasieu Pass terminal comes online.
But the US role as the main LNG exporter could be long-term. Export was just the hair on top of those from Qatar and Australia, and any production issues could affect the rankings. Looking further, Qatar is planning a major export project that will come online by the end of 2020, which could strengthen the Middle East as an oil producer.
“Qatar and the US are competing to become the world’s largest LNG producers in the next decade,” said Muqsit Ashraf, chief executive of Accenture’s global energy practice.
In the meantime, a jump in US LNG exports will help reduce global warming. Europe is facing a power crisis in the winter as power utilities struggle to cut off natural gas over time. Foreign buyers bought 13% of US oil in December, seven times more than in the previous five years when most of the equipment needed to ship the oil was gone.
U.S. LNG exports shipped 1,043 shipments by 2021, with Asian countries accounting for about half the number of destinations and Europe making up one-third of the fleet, which follows ships built by Bloomberg exhibitors.
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