A recent report by the U.S. Energy Information Administration (EIA) said that U.S. liquefied natural gas (LNG) exports grew to record highs in the first half of 2021 and it seems there’s no slowing down any time soon.
“We forecast that U.S. natural gas exports will exceed natural gas imports by an average of 11 billion cubic feet per day in 2021, nearly double the 2020 average,” said the EIA in its report.
The United States has an interesting history with LNG when in 2016 the first U.S. exporter from the lower 48 states, Houston-based Cheniere Energy, was actually expected to become an importer until advanced hydraulic fracturing technology brought about what was dubbed the “shale revolution,” unlocking cheap, abundant gas supplies which allowed the country to become a lead exporter instead.
“The United States is the leading natural gas producer in the world,” reports the API on its website. “We have an abundant supply of this clean, affordable and reliable resource that will let us power our nation for generations to come.”
The benefits to the U.S. to export LNG are high, starting with the stimulus to domestic production and the thousands of additional jobs, as well as advancing the manufacturing sector, says the API. “U.S. LNG export also offers an alternative and reliable energy source to the global marketplace, providing international consumers with greater choice of supply, helping to curb the use of energy as a political weapon.”
This abundant resource has presented an opportunity for the U.S. to become an influential global energy leader – a leader that will be a reliable and transparent trading partner in energy for allies abroad, notes the API.
“A robust natural gas export policy will enhance our energy leadership, and it also will help grow our economy, support our manufacturing sector, strengthen our national security interests and protect our environment. Transparent and timely permitting and licensing procedures of LNG export terminals are one way to fully realize the benefits of LNG exports.”
