The Strategist

The US becomes the world's largest LNG exporter

02/15/2024 - 05:18

LNG Outlook: the US became the biggest LNG exporter in the world in 2023.

According to Shell's annual liquefied natural gas (LNG) outlook, LNG Outlook 2024, the United States became the world's largest exporter of LNG last year, shipping 86 million tons overseas, or more than 21 percent of all LNG exports worldwide.

"The U.S. was the largest exporter of LNG in 2023, shipping 86 million tons," the research states.

Russia exported almost 30 million tons, Malaysia shipped somewhat less, and Qatar and Australia exported roughly 80 million tons each.

The expected total LNG traded globally in the previous year was 404 million tons. As a result, more than 21% of the supplies come from the US, with almost 20% coming from each of Qatar and Australia.

It is stated that more than 120 million tons of LNG were imported into Europe. "China topped the import rankings once more, and developing Asian nations have room to grow," the assessment added. Data regarding the quantity of these purchases is not provided, though.

Germany's LNG imports grew by 4.6 million tons, the Netherlands' by 4.1 million tons, and China's by 7.9 million tons. Simultaneously, the UK decreased its fuel imports by 4.3 million tons, France by 3.5 million tons, and Japan by 6 million tons.