According to preliminary data from financial firm LSEG, exports of U.S. liquefied natural gas (LNG) surged in August to 7.48 million metric tons (MT), up from 6.69 MT in July. This increase comes as output from the country's second-largest export facility rebounded following maintenance activities and outages at other plants.
Freeport LNG in Texas operated above its nameplate capacity at times, benefiting from debottlenecking work that allowed for increased output beyond the plant's 15.3 MTPA capacity. This boost in production followed an outage in July due to Hurricane Beryl, which hit the Texas coast as a Category 1 hurricane.
U.S. LNG producers continued to prioritize exports to Asia, where a heat wave was driving up demand and prices. In August, 3.19 MT of LNG was shipped to Asia, while 2.92 MT was sent to Europe. Latin America received 1.08 MT of LNG, with two cargoes out for orders totaling 0.14 MT.
Furthermore, Venture Global LNG's Plaquemines LNG facility in Louisiana is gearing up for startup, which will make it the second-largest U.S. export facility. This development solidifies the U.S.'s position as the world's largest exporter of LNG.
Overall, the surge in U.S. LNG exports in August signals positive momentum in the market, with increased production capacity and strong demand from key regions like Asia. This trend bodes well for the U.S. LNG industry and underscores the country's dominance in the global LNG market.
