USA rose to leadership in the global LNG market
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According to the compilation of data from the International Natural Gas Information Center (CEDIGAZ), global LNG supply reached 395 million tons last year, an increase of 2 percent compared to the previous year.
The USA, which had no participation in the global LNG market in 2015, will have a share of 1 percent in 2016, 5 percent in 2017, 7 percent in 2018, 10 percent in 2019, 13 percent in 2020, 18 percent in 2021 and 2022. It had a 20 percent share. As of the end of last year, the USA became the leading country with a 21 percent share in global LNG exports.
The USA exported 84.3 million tons of LNG to global markets in 2023. The USA was followed by Australia with 78.9 million tons and Qatar with 78.5 million tons.
According to CEDIGAZ data, the USA has been the single biggest driving force behind global LNG supply not only in 2023 but also in the last 5 years.
On the other hand, it was observed that total supply from regions outside the USA remained stable from 2019 to 2023.
It is noted that the growth in US exports was largely influenced by the commissioning of the Freeport LNG facility, which has been closed due to fire since June 2022, in the first quarter of 2023.
EUROPE, “RUNNING AWAY” FROM RUSSIA, TURNS TO US LNG
Last year, the region where US LNG went the most was Europe, which reduced its natural gas purchases from Russia.
Countries in the region, which imposed an “embargo” on Russian gas and opposed the purchase of natural gas from this country at every opportunity, found the solution in US LNG.
67 percent of the LNG exported by the USA was sold to Europe. The share of Asia in this import was recorded as 25 percent, South and Central America’s share was 7 percent, and the share of other countries was 1 percent.
The country that imported the most LNG in global markets was China with 70.5 million tons. China was followed by Japan with 66.1 million tons and South Korea with 44.2 million tons.
The countries that imported the most LNG in Europe were France with 21 million tons, Spain with 17.2 million tons and the Netherlands with 15.7 million tons. Turkey’s LNG import decreased by 7.7 percent last year compared to the previous year, reaching 10.5 million tons.
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