According to Bloomberg, both the US and Qatar exported over 80 millions tons of liquified natural gas in 2022.
US is currently the biggest exporter of LNG
The US would have been the world’s biggest LNG exporter if not for a fire at the Freeport export plant in Texas, which prevented the plant from reopening since June 2022. The Freeport Plant is slated to resume operations in late January 2023, which will position the US as the biggest exporter of the super-chilled fuel.
US began to export LNG in 2016 - only 8 years ago and in a very short time became the top exporter of LNG
Qatar plans to boost LNG export capacity
Qatar is in the middle of a significant expansion to increase LNG export capacity to 100 million tons starting in 2026.
Australia remains the world's third largest supplier of LNG.
LNG is the enabler of geopolitical shifts
These shifts are both substantial and irreversible.
While Asia used to be the top destination for US LNG cargos until last year, Europe's determination to reduce its reliance on Russia's gas exports led to Europe emerging as a a major importer of LNG.
As Europe continues to move away from Russia's gas delivered via pipelines, it will remain an eager buyer of US LNG exports.
Why should the reader care?
“As Russia's oil and gas revenues decline, the global volatility will continue to increase driving greater fluctuations of commodity prices"
TerraManta is the only company which uses machine learning to forecast commodity prices while managing outside capital to produce consistent, above average returns.
We welcome volatility.