LNG Exports Rise as Europeans Stock Up Ahead of Winter

US liquefied natural gas exports rose in August as major export plants in Texas completed maintenance, and European buyers increased purchases to replenish gas inventories ahead of winter. According to preliminary data from financial firm LSEG, the US exported 10.7 million metric tons of LNG in August, up from 10.48 MT in July.

The increase came as Freeport LNG exited maintenance at its Texas facility and Cheniere Energy completed planned work at its Corpus Christi facility, which is the third largest in the United States. Europe remained the top destination for US cargoes, importing 5.84 MT, or 55% of total exports in August.

Asia remained the second-largest market for US LNG exports, taking 2.59 MT in August, down from 3.32 MT in July, as European buyers competed more aggressively for available cargoes. Executives at Cheniere and Venture Global expect strong LNG demand and prices through the end of the year.