For the first time, the United States has emerged as the world's largest exporter of liquefied natural gas (LNG), surpassing both Australia and Qatar in terms of shipments.
In 2023, the US achieved a record export volume of 91.2 million tonnes of LNG, according to recent data.
This significant increase in output was largely attributed to the recommencement of operations at the Freeport LNG facility in Texas. The facility had been out of action for several months following a fire and explosion in June 2022.
In a notable shift, Qatar, which held the top spot in LNG supply in 2022, experienced a reduction in its export volumes for the first time since at least 2016.
This 1.9% decline resulted in Qatar falling to the third position in global LNG shipments.
Meanwhile, Australia maintained its second position, with its LNG exports remaining relatively stable compared to 2022.
Looking ahead, the US is poised to further expand its LNG export capacity with the commencement of two new projects this year.
Venture Global LNG's Plaquemines facility in Louisiana and the Golden Pass in Texas, a joint venture between Exxon Mobil (NYSE:XOM) and QatarEnergy, are set to start production.
Once operating at full capacity, these projects are expected to contribute an additional 38 million tonnes per year to the US's LNG export capabilities.