US LNG Exports Extends Record-Breaking Run

US liquefied natural gas exports have extended a record-breaking run as new projects increased production, a trend that could help to ease high prices in Europe and Asia.

Pipeline gas flows to LNG export plants climbed to 15.7bn cubic feet on Tuesday, according to data from BloombergNEF. That’s an all-time high and almost 20% more than a year ago.

Higher exports are cementing the US as the world’s biggest supplier of the power plant and heating fuel, with output poised to roughly double by the end of the decade. Europe, in particular, has turned to American LNG to help replace the loss of Russian pipeline gas since the 2022 invasion of Ukraine.

More US supply could provide relief to LNG buyers in Europe and Asia, which have been grappling with higher prices. The European benchmark briefly hit a two-year high this month, in part due to reduced Russia pipeline flows.

The US supply is growing following a ramp-up in output from Venture Global LNG Inc’s Plaquemines plant, which exported its first cargo in December. Cheniere Energy Inc’s Corpus Christi project also began production from the first phase of its expansion at the end of last year.

President Donald Trump wants to expand US LNG supply and is urging countries to buy more of the fuel to balance trade. He lifted a Biden-era pause on new permits for export plants, and conditionally approved a facility planned near Cameron, Louisiana.