U.S. natural gas exporters are increasingly eyeing the global market, according to new data published by the Federal Energy Regulatory Commission, or FERC.
U.S. LNG exports rose by 8.6% year/year to average 10.6 Bcf/d in 2022, with demand growth driven by European markets seeking a substitute for Russian supply, FERC said in its 2022 State of the Market report.
Tight liquefied natural gas supplies contributed to increasing international prices, which reached record levels, according to FERC researchers. This incentivized U.S. LNG exports. “The approval and expansion of multiple LNG export facilities in 2022 increased LNG liquefaction capacity to serve the growing international LNG demand to higher-priced regions.”
Meanwhile pipeline exports to both Canada and Mexico...