U.S. liquefied natural gas (LNG) developers are anticipating that 2021 will be much different than 2020.

Covid-19 and uncertain long-term economics dashed the plans for a number of U.S. gas export projects to make a positive final investment decision (FID) this year. Most of those projects pushed their planned FID dates into 2021, with the expectation of coming online by the middle of the decade to meet what is expected to be global supply shortage. 

With vaccinations beginning, global gas demand is expected to rise, but the long-term profitability of U.S. LNG is still an open question. Arbitrage opportunities to Asia and Europe have decreased since the first wave of domestic projects was funded in the previous decade.

The International Energy Agency said in October global...