U.S. LNG Exports Near Record Levels in December
Jan 2, 2025

U.S. LNG Exports Near Record Levels in December

In December, U.S. liquefied natural gas (LNG) exports soared to near-record levels, marking a significant milestone in the energy market. According to Reuters, the exports reached 8.5 million metric tonnes (MT), just shy of the previous record set in December 2023. This upsurge represents a 9% increase over November's exports, which stood at 7.75 MT.

Throughout 2024, the United States maintained its position as the world's largest LNG exporter. The country's annual exports hit 88.3 MT, up from 84.5 MT in 2023, as highlighted by LSEG data. The startup of Cheniere Energy's Stage 3 expansion at Corpus Christi, Texas, and Venture Global LNG's Plaquemines plant in Louisiana are projected to boost U.S. annual output by an additional 30 million tonnes per annum (MTPA).

Impact on Global Markets

The global LNG supply saw minimal growth last year, with mild winter conditions in Europe and ongoing Russian gas supplies helping maintain stability. However, these conditions are not expected to persist, leading to tightened supply-to-demand situations. As a result, all eyes are on U.S. export growth, which will play a pivotal role in easing global LNG price volatility expected in 2025.

Destination Markets

Europe remained the leading destination for U.S. LNG exports, accounting for 69% of December's shipments, up from 5.09 MT in November. Turkey emerged as a significant European destination for the superchilled gas as winter conditions intensified. Simultaneously, exports to Asia saw slight growth, reaching 2.01 MT or 24% of total shipments, and exports to Latin America remained steady at 0.58 MT, LSEG data revealed.

In 2024, Europe received 55% of total U.S. LNG exports, while Asia accounted for 34%, and Latin America received 11%, with occasional shipments to the Middle East, primarily to Egypt and Jordan.

Challenges Ahead

With increased LNG production in late December, U.S. gas producers face heightened feedgas demand. Energy market expert Ira Joseph from Columbia University's Center on Global Energy Policy emphasized that U.S. producers have been gearing up for this demand spike, which is expected to accelerate in 2025. Furthermore, new data center and AI-related demands are projected to coincide with this expansion.

Source: IndexBox Market Intelligence Platform

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  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
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    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
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  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

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    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
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    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
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  7. 7. GLOBAL PRODUCTION

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    1. PRODUCTION VOLUME AND VALUE
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    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
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  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY
  10. 10. PROFILES OF MAJOR PRODUCERS

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  11. 11. COUNTRY PROFILES

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    • United States
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  12. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption, By Country, 2018–2024
    5. Production, In Physical Terms, By Country, 2012–2024
    6. Imports, In Physical Terms, By Country, 2012–2024
    7. Imports, In Value Terms, By Country, 2012–2024
    8. Import Prices, By Country Of Destination, 2012–2024
    9. Exports, In Physical Terms, By Country, 2012–2024
    10. Exports, In Value Terms, By Country, 2012–2024
    11. Export Prices, By Country Of Origin, 2012–2024
  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Consumption, By Country, 2024
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2024
    18. Production, In Value Terms, 2012–2024
    19. Production, By Country, 2024
    20. Production, In Physical Terms, By Country, 2012–2024
    21. Imports, In Physical Terms, 2012–2024
    22. Imports, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, By Country, 2024
    24. Imports, In Physical Terms, By Country, 2012–2024
    25. Imports, In Value Terms, By Country, 2012–2024
    26. Import Prices, By Country, 2012–2024
    27. Exports, In Physical Terms, 2012–2024
    28. Exports, In Value Terms, 2012–2024
    29. Exports, In Physical Terms, By Country, 2024
    30. Exports, In Physical Terms, By Country, 2012–2024
    31. Exports, In Value Terms, By Country, 2012–2024
    32. Export Prices, 2012–2024

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