The United States has the potential to be the world’s largest liquified natural gas (LNG) exporter in 2022, according to new analysis, boosted by swelling supplies and growing LNG terminal capacity.

In a new report by researchers at IHS Markit, the United States could jump from the third largest exporter in 2021 to the top spot, overtaking Australia and Qatar.

“A new map of LNG is taking shape as 2021 became the year of rapid recovery, making the oversupply and price lows of 2020 seem like a distant memory,” said IHS Markit’s Michael Stoppard, chief strategist of global gas. “It is a tale of two markets with China fueling the demand surge as the world’s top importer and the United States, poised to become the world’s leading exporter, providing the supply...