US Dominance in Global LNG Market Set to Continue Rapid Growth

The United States has become the top supplier of liquefied natural gas (LNG) to world consumers, growing rapidly over the past decade. In February 2016, Cheniere Energy exported the first LNG cargo from Texas's Sabine Pass facility, marking a new era for the US LNG industry. This milestone led to the country overtaking heavyweights Qatar and Australia in the global market.

Today, the US is processing around 18 billion cubic feet per day of natural gas into LNG, according to LSEG and EIA data. Analysts and industry executives project that record US LNG export capacity will double in just five years, reaching 28.7 bcfd by 2029.

Shell's CEO Wael Sawan noted that the LNG sector is expanding at a rate of about 3% per annum, outpacing the gas market. Cheniere Energy has invested $50 billion in growing its two export facilities over the past decade and aims to double output to 100 million metric tonnes per annum by the mid-2030s.