EIA expects slight increase in US LNG exports in 2024

The US Energy Information Administration is expecting a 2 percent increase in US LNG exports this year compared to record 2023, while LNG exports are expected to rise 18 percent in 2025 due to new LNG terminals coming online.

The agency previously said that the US was the largest LNG exporter in 2023 and US LNG exports averaged 11.9 billion cubic feet per day (Bcf/d), a 12 percent increase (1.3 Bcf/d) compared with 2022.

Currently, the US exports LNG via Cheniere’s Sabine Pass and Corpus Christi terminals, Sempra Infrastructure’s Cameron LNG terminal, Venture Global’s Calcasieu Pass, the Freeport LNG facility, the Cove Point LNG facility, and the Elba Island terminal.

According to EIA’s newest short-term energy outlook, the agency expects US LNG exports to average 12 Bcf/d in 2024, a 2 percent increase compared with last year.

In 2025, LNG exports increase by an additional 2 Bcf/d (18 percent) because three of the five LNG export projects currently under construction are expected to start operations and ramp up to full production, it said.

Plaquemines LNG, Corpus Christi Stage 3, and Golden Pass LNG

The agency forecasts that US LNG export facilities will run at similar utilization rates as in 2023, adjusted for seasonality and annual maintenance on liquefaction trains.

In April and May 2024, the EIA expects LNG exports to decline compared with April and May 2023 because two of the three trains at the Freeport LNG export facility are undergoing annual maintenance, coinciding with lower global LNG demand in importing countries during the shoulder season.

Later in 2024, the EIA expects Venture Global’s Plaquemines LNG Phase I and Cheniere’s Corpus Christi Stage 3 to begin LNG production and load first cargoes by the end of the year.

In 2025, energy giants QatarEnergy and ExxonMobil plan to place the first two trains of the three-train Golden Pass LNG export facility in service, it said.

Most Popular

Spot LNG shipping rates slightly up this week

Spot charter rates for the global liquefied natural gas (LNG) carrier fleet rose slightly this week compared to the previous week.

Gastrade in talks to receive new LNG cargoes at Alexandroupolis FSRU

Greece's Gastrade is in talks with firms to receive the next spot LNG cargoes at the Alexandroupolis FSRU-based terminal since the shutdown in January this year.

Malaysia’s MHB bags new LNG carrier repair jobs

Malaysia Marine and Heavy Engineering (MHB) has secured new contracts to repair liquefied natural gas (LNG) carriers.

More News Like This

Spot LNG shipping rates slightly up this week

Spot charter rates for the global liquefied natural gas (LNG) carrier fleet rose slightly this week compared to the previous week.

US LNG exports reach 31 cargoes

US liquefied natural gas (LNG) plants shipped 31 cargoes during the week ending August 20. According to the Energy Information Administration, pipeline deliveries to the LNG terminals decreased compared to the prior week.

GECF says LNG imports up 6.6 percent in July

Global liquefied natural gas (LNG) imports rose by 6.6 percent year-on-year in July, setting a new record for the month, the Gas Exporting Countries Forum said in its latest report.

Atlantic LNG rates remain at $36,000 per day, European prices down

Atlantic spot LNG shipping rates remained at $36,000 per day this week, while European prices continued to drop.