Rising demand for LNG is why ngas prices are up
Posted: Mon Jun 21, 2021 7:28 am
IGU: U.S. LNG Poised to Become a Global Powerhouse
Joel Acosta // Researcher, Washington DC
June 14, 2021
The Covid-19 pandemic and harsh winter brought exceptional challenges across the globe, including energy demand fluctuations. But, as the International Gas Union’s recent report on global liquefied natural gas found: “The LNG sector adjusted to significant demand fluctuations with incredible agility. From the huge drops in demand levels at the height of the pandemic lockdowns, through exceptional spikes when the winter deep freeze sent the world’s energy systems into crisis. LNG, quite literally, delivered.” IGU’s report foresees a positive outlook for the global LNG industry, including in the United States, which led the world in growth of this resource. This is not surprising. In just a short period of time, the United States has become an LNG powerhouse. The country’s meteoric rise started with the first commercial LNG export cargo from Cheniere’s Sabine Pass facility in Louisiana back in 2016. Since then, the United States has become the third largest LNG exporter and is rapidly catching up with commercial rivals Qatar and Australia. Today, the United States has six LNG export facilities online, and multiple new projects are expected to start operations, or be approved, shortly.
Joel Acosta // Researcher, Washington DC
June 14, 2021
The Covid-19 pandemic and harsh winter brought exceptional challenges across the globe, including energy demand fluctuations. But, as the International Gas Union’s recent report on global liquefied natural gas found: “The LNG sector adjusted to significant demand fluctuations with incredible agility. From the huge drops in demand levels at the height of the pandemic lockdowns, through exceptional spikes when the winter deep freeze sent the world’s energy systems into crisis. LNG, quite literally, delivered.” IGU’s report foresees a positive outlook for the global LNG industry, including in the United States, which led the world in growth of this resource. This is not surprising. In just a short period of time, the United States has become an LNG powerhouse. The country’s meteoric rise started with the first commercial LNG export cargo from Cheniere’s Sabine Pass facility in Louisiana back in 2016. Since then, the United States has become the third largest LNG exporter and is rapidly catching up with commercial rivals Qatar and Australia. Today, the United States has six LNG export facilities online, and multiple new projects are expected to start operations, or be approved, shortly.