Competition heating up for Asian LNG markets

U.S. LNG exports played a leading role meeting Europe’s urgent demand for natural gas after the EU curtailed Russian imports in 2022 following its invasion of Ukraine.

Increasing LNG production from new or existing Gulf Coast projects is also expected to sail to Europe, targeting an expected 140 million tonne per year of new European demand as the continent continues to wean itself from Russian supply. Venture Global LNG’s announcement last week it is expanding the scope of its Plaquemines project in Louisiana falls neatly into that pattern.

But other recent news that Alaska’s Qilak LNG plans to export to Asian markets creates the potential for a new LNG global trade dynamic — U.S. volumes going west.

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