Europe Edges Out Asia as Top Destination for US LNG

More than half of U.S. LNG exports went to Europe in April as the continent continued to replace its gas supply from Russia. Top destinations included France, Spain, the U.K. and the Netherlands with Poland surpassing South Korea.

Europe Edges Out Asia as Top Destination for US LNG

Domestically produced LNG exports from the six departure terminals in the U.S.—Elba Island, Sabine Pass, Cameron, Cove Point, Corpus Christi and Freeport—were down 9% sequentially in April compared to March, according to recent data from the DOE. (Source: Hart Energy, Shutterstock.com)

U.S. LNG exports in April remained above the 300 Bcf mark for the sixth consecutive month due to robust demand in Europe and the U.K. as natural gas supply from Russia lags demand. 

Domestically produced U.S. LNG exports from six departure terminals located in Georgia (one terminal), Louisiana (two), Maryland (one) and Texas (two) totaled 330.1 Bcf in April, down 9% sequentially compared to 363.8 Bcf in March. However, April’s volumes were up 8% compared to 306.7 Bcf in the same year-ago month, according to data published in the U.S. Department of Energy’s (DOE) June ‘LNG Monthly’ report.

Despite the recent hiccup in U.S. LNG export volumes, the weighted average price for the six U.S. terminals reached $9.94/MMBtu in April, up 13% sequentially compared to $8.81/MMBtu and up 74% year-over-year compared to $5.70/MMBtu.

The Federal Reserve Bank of Dallas expects rising capacity and utilization to take U.S. LNG exports to around 13.4 Bcf/d by December, it announced on June 3 in its monthly ‘Energy Indicators’ update.

Already have an account? Log In

Subscribe now to get unmatched and complete coverage of the Energy industry’s entire landscape!

View our subscription options
  • Access to site wide content
  • Access to our proprietary databases
  • Watch exclusive videos with energy executives
  • Unlimited access to an extensive library of Playbooks, Techbooks, Yearbooks, supplements, and special reports
  • Newly Added! Access to Rextag's Energy Datalink, containing extensive GIS databases of energy assets, production records, processing capacities, physical locations, planned projects, acquisition records, and much more.

Pietro Pitts

Pietro Donatello Pitts is a senior energy reporter for Hart Energy. He covers Latin America and the Caribbean as well as regions from North America to Europe, Africa and Asia. He covers topics spanning from the upstream, midstream and downstream sectors to the energy transition and geopolitical events impacting the global energy sector.