Europe’s shortage of natural gas brings US export record for liquefied natural gas

ArcelorMittal steelworks Bremen

In the future, natural gas is to be fed into such a control center.

(Photo: dpa)

Houston / London The high demand for natural gas in Europe brought the USA a record export of liquefied natural gas (LNG) in December. According to Refinitiv data, about 7.15 million tons of LNG were exported by 106 ships last month, compared to the previous high of 6.51 million tons in May.

Around half of US exports went to Europe, compared with 37 percent earlier in the year. While rising demand in Asia and Europe has led to record high prices, supply in the USA exceeds domestic consumption by around ten percent due to the production of shale oil and gas. However, the capacity for cooling natural gas to liquefied natural gas is limited in the USA and was roughly at maximum capacity in December.

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