US LNG played crucial role in assisting Europe to get through the 2022–23 winter
Will US LNG stampede lead to costly overbuild?
The US’ emergence as the world’s largest LNG producer is good news for gas-hungry Europe, but the project pipeline raises questions about how much capacity will be needed
The US was shaping up to become the world’s largest LNG producer last year, until an explosion in June put its second-largest liquefaction plant out of action. With the 15mn t/yr Freeport LNG having resumed production early this year—amid a welter of regulatory oversight and intervention—2023 now looks like the year in which the US will lift the trophy. It certainly has the capacity to do so. Since the first LNG cargo from the Lower 48 states left Houston-headquartered Cheniere Energy’s Sabine Pass project in 2016, another six projects have started up (see Fig.1). Together, they give the US an aggregate nameplate capacity of 91.3mn t/yr, significantly more than Qatar’s 77.4mn t/yr and just a
Also in this section
29 April 2026
The UAE’s exit from the alliance marks a decisive step towards a world in which oil markets are shaped less by collective management and more by national strategy
29 April 2026
Trafigura’s $1b prepayment agreement confirms African resource holders’ renewed interest in oil-backed financing deals as they look to capitalise on high oil prices
29 April 2026
The UAE’s departure from the oil producers’ group was a surprise to many, but the move can be traced back to a single point five years ago
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
