Gas Gap in Europe Drives US LNG Exports to Record High

Refinitiv data showed about half of the record U.S. LNG volumes shipped in December went to Europe, up from 37% earlier in 2021.

Marcy de Luna and Nina Chestney, Reuters

Sky-high European demand drove U.S. LNG exports to a record in December, Refinitiv data showed on Jan. 6, with winter supply worries set to sustain orders for the fuel.

About half of the record U.S. LNG volumes shipped last month went to Europe, up from 37% earlier in 2021, data from Refinitiv and the U.S. Energy Information Administration showed.

The gains reflected soaring demand for the home heating and industrial fuel that pushed prices in Europe and Asia to record highs. The United States has ample and cheap supplies as its shale oil and gas boom in the last two decades led to domestic production that has exceeded U.S. demand by about 10%.

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