U.S. Liquefied Natural Gas (LNG) exports hit a peak of 93% capacity utilization in November, according to the Energy Information Administration (EIA) press release. The peak saw LNG exports reach 9.4 billion cubic feet per day (Bcf/d), surpassing the previous record set in January 2020.
- The increase in U.S. LNG exports in recent months was caused by the easing of COVID-19 restrictions, which saw prices pick up in Asia and Europe.
- U.S LNG exports were also supported by a fall in global LNG supply due to unplanned outages at export facilities in Australia, Malaysia, Qatar, Norway, Nigeria, and Trinidad and Tobago
- The U.S also added 2.7 Bcf/d new LNG export capacity in 2020 and had several LNG terminals affected by hurricanes and annual maintenance resuming shipments.
- During the summer of 2020, monthly exports of LNG from the U.S. were the lowest in 26 months but have since increased.
Natural gas is currently declining. NG! is down 1.08%
