HOUSTON — Exports of US liquefied natural gas (LNG) jumped to 9.1 million metric tons (MT) in July, marking a sharp increase from June as some plants exited maintenance activities and Venture Global’s Plaquemines facility ramped up production, preliminary data from financial firm LSEG showed.
The US is the world’s largest exporter of LNG and July’s output was its third highest on record. This year the US has seen three of its highest ever monthly LNG production figures, according to LSEG data.
US LNG shipments could have been higher had its third- largest export facility, Freeport LNG, not experienced several unplanned outages, reporting seven power outages at its plants to the Texas Commission on Environmental Quality during the month of July. Its output fell in July to 1.3 million metric tons (MT) from 1.4 MT in June, LSEG data showed.
The US could double its LNG export capacity by 2030, based on projects already under construction and expected to get the financial greenlight as the industry builds momentum following US President Donald’s Trump’s vow to bolster the country’s energy industry. This week Venture Global gave a positive final investment decision for its massive 28 million metric tons per annum (mtpa) CP2 facility in Louisiana.
In July, Plaquemines, also in Louisiana, exported 1.4 MT of the superchilled gas, compared to 1.2 MT in June, helping the US get to 9.1 MT in July, compared to 8.4 MT in June, LSEG data showed.
European gas prices fell in July to $11.56 per million British thermal unit (mmBtu) from $12.38 per mmBtu in June at the European benchmark Title Transfer Facility in the Netherlands, according to LSEG data.
Even so, the softer prices were not enough to deter US LNG exports to Europe, which remained the favored destination. Some 5.25 MT of LNG, or just under 58% of July’s total, headed to Europe during July, slightly lower than the 5.53 MT, or 66%, sold in June, LSEG data showed.
