NATURAL GAS NEWS – March 25, 2022

NATURAL GAS NEWS – March 25, 2022

U.S. LNG exports set a new record high 2021

U.S. exports of liquefied natural gas (LNG) set another record high in 2021, averaging 9.7 billion cubic feet per day (Bcf/d)—an increase of 3.2 Bcf/d (50%) compared with the prior year, according to recent data from the U.S. Energy Information Administration. The increase in U.S. LNG exports was driven by increased demand in both Europe and Asia (particularly China), as well as by expanding U.S. liquefaction capacity. In 2021, annual utilization of liquefaction capacity at the six U.S. LNG export terminals averaged 102% of nominal capacity and 89% of peak capacity, the EIA reported. U.S. LNG exports to Asia increased by 1.5 Bcf/d, or 51% from the prior year and accounted for the largest share of all U.S. LNG exports at 47% (4.6 Bcf/d). Last year, the United States became the third-largest LNG supplier to Asia, a… For more info go to https://bit.ly/3Lbp1TN

U.S. Talks With EU to Help European Supply of LNG…

The European Union and the U.S. are working on an agreement that would aim to ensure a supply of American liquefied natural gas and hydrogen to EU member states as the bloc works toward ending its reliance on Russian energy. Joe Biden and European Commission President Ursula von der Leyen could announce an agreement this week while the U.S. president is in Brussels meeting with NATO, Group of Seven and EU allies, according to a diplomatic correspondence seen by Bloomberg. The agreement would seek to guarantee energy supplies to Europe over the next two years, according to an official familiar with the plans, who asked not to be identified because the talks are private. Biden’s national security adviser, Jake Sullivan, said at a briefing Tuesday that the president and European allies will … For more info go to https://bloom.bg/3JBF1xX