The emergence of the US as the world’s top LNG exporter could not have come at a more critical time for Europe. Russia’s apparent weaponisation of its pipeline gas exports has exacerbated market turbulence heightened by Moscow’s war in Ukraine and Europe’s anxious attempts to wean itself off Russian gas. Flexible US LNG is proving crucial in helping Europe offset the loss of Russian volumes.
But disruption at a major US liquefaction facility in June illustrated how large-scale exports are impacting the bills of US domestic consumers, with possible political implications for ‘second-wave’ expansions and new projects jostling to reach final investment decision (FID). In this two-part series, LNG Business Review examines the transformative impact of US LNG exports, starting with the seven projects already operating in the Lower 48 states.