The US is set to be the major source of supply growth of liquified natural gas (LNG) over the next decade forecast to overtake Qatar by 2032.
According to a report published by the US Energy Information Administration (EIA), most US LNG exports went to the EU and the UK during the first five months of this year as the region puts in place measures to end its dependence on Russia.
LNG exports increased by 12 per cent in the first half of 2022, averaging 11.2 billion cubic feet per day (Bcf/d), compared with the second half of 2021, the report says.
The US is expected to increase its supply of LNG by around 60 metric tonnes compared to Qatar’s 42 metric tonnes by 2032. This will help Washington overtake Doha as the world’s largest supplier of LNG.
Last March, US President Joe Biden promised European leaders that he would help secure new supplies of liquefied natural gas to offset shortages following Russia’s invasion of Ukraine, his pledge was greeted with scepticism.