The EIA’s most recent annual data for 2021 shows that the net disposition of natural gas in the US increased by 3.6% in 2021 compared with 2020 as a result of growth in LNG exports.
During the first four months of 2022, the US exported 74% of its LNG to Europe, compared with an annual average of 34% last year, according to EIA.
The Federal Energy Regulatory Commission (FERC) has approved three projects intended to increase US natural gas exports via pipeline and as LNG.
According to the US Energy Information Administration, the increase in Henry Hub prices over recent months is due to below-average storage levels heading into the winter heating season and strong demand for US LNG.
The U.S. Energy Information Administration’s August 2021 Short-Term Energy Outlook estimates that LNG exports will overtake pipeline exports by 0.6 billion ft3/d this year.
EIA discusses the Global LNG market in 2020 and ‘The LNG Industry: GIIGNL Annual Report 2021’ released by the International Group of Liquefied Natural Gas Importers.
According to the EIA, both natural gas consumption by the US electric power sector and natural gas exports reached record highs in 2020.
The EIA’s Annual Energy Outlook 2021 projects that there will be a wide range of US LNG export volumes through 2050, based on its published side cases.