US LNG industry becomes leader of the world

The No. 1 natural gas producer became the top LNG exporter in the world in the first half of 2022, the US Energy Information Administration (EIA) said on Monday (25 July).

The surge is good news for a Biden administration that has sought to strengthen energy ties with Europe as a way to combat Russia's influence. But given the globe's voracious demand for natural gas, these European imports come at the expense of poorer nations like Pakistan and India, which could face energy deficits or be driven to new deals with Russia.

Through June of this year, the US 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.