Global demand for natural gas is pouncing like a lion on U.S. LNG with American exports crushing pre-COVID records. Reese Energy Consulting today is following the latest news on the surge of LNG tonnage being dispatched to recovering global markets in need of low-cost fuel to return to some semblance of normal. Back in June, the EIA reported that U.S. LNG exports had declined by more than one-half due to the COVID fallout of cancelled shipments and month-long hurricane shutdowns. This, after a record 9.8 BCFD in late March by a relatively new domestic energy sector that had witnessed runaway growth and expansion in four short years. But as of last Friday, U.S. exports not only tipped—but toppled—the scales at 11.4 BCFD. Top destinations between July and September weren’t limited to Asia either, but included the Middle East, Europe, South America, and Mexico. Say what you will, but this is a major bright spot in a topsy-turvy year for our abundant natural gas supplies, which have now reached all-time highs in new demand. The world is getting back on its feet.
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