European Demand Drives U.S. LNG Exports to Record

gCaptain ^ | January 6, 2022 | Marcy de Luna and Nina Chestney

[artichokegrower]

Sky-high European demand drove U.S. liquefied natural gas (LNG) exports to a record in December, Refinitiv data showed, 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.

[artichokegrower]

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%.

Hey Europe how are those Paris Climate Agreement working out for you? How about that UN Climate Change Conference (COP26) we heard so much about? You all can go freeze in the dark and take Al Gore with you.

[Leaning Right]

Why does Europe have to import U.S. liquefied natural gas? I thought Europe still had large coal reserves. Maybe they should just build more coal-fired plants.

Oh, sorry. Never mind.

[JimRed]

May as well sell it abroad since they don’t want us to use it here!

[glorgau]

As long as they are paying for it.

It’s kind of ridiculous that the terminal in the boston area has to get it’s LNG from trinidad because there are no US flagged LNG ships and all pipelines to the northeast are blocked by the usual suspects.

[aquila48]

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[aquila48]

“Hey Europe how are those Paris Climate Agreement working out for you?”

Haven’t you heard? The EU and California have decreed that natural gas is now carbon free and green.

Nothing short of a miracle!