x(1125).png?583029217 "U.S.: LNG Exports Volume, by country"){kind=logo}
| Country | 2022, in million cubic feet | 2023, in million cubic feet |
|---|---|---|
 Netherlands | 378,329 | 588,557 |
 France | 571,339 | 492,696 |
 United Kingdom | 464,462 | 450,694 |
 Japan | 209,220 | 310,190 |
 South Korea | 292,732 | 275,779 |
 Spain | 426,657 | 269,202 |
 Italy | 116,034 | 197,513 |
 India | 122,518 | 164,325 |
 Turkey | 192,067 | 156,403 |
 Poland | 127,404 | 139,635 |
- Source: EIA - LNG Exports From The U.S.
- Region: United States
- Time period: 2022 and 2023
- Published: Feb 2024
Data Analysis and Insights
Largest Increase in LNG Exports: Netherlands
The Netherlands saw the most significant increase in LNG exports from the U.S., with volumes rising from 378,329 million cubic feet in 2022 to 588,557 million cubic feet in 2023, marking a substantial increase of 210,228 million cubic feet. This growth highlights the Netherlands' expanding role in the global LNG market and the increasing reliance on U.S. LNG.Decline in Exports to Key European Countries
France and Spain experienced noticeable declines in LNG imports from the U.S. France's imports decreased by 78,643 million cubic feet, from 571,339 million cubic feet in 2022 to 492,696 million cubic feet in 2023. Similarly, Spain's imports fell by 157,455 million cubic feet, from 426,657 million cubic feet in 2022 to 269,202 million cubic feet in 2023, indicating a shift in energy sourcing strategies or demand patterns within these nations.Japan and Italy: Notable Increases in LNG Imports
Japan and Italy showed significant growth in LNG imports from the U.S., with Japan increasing by 100,970 million cubic feet (from 209,220 million cubic feet in 2022 to 310,190 million cubic feet in 2023) and Italy by 81,479 million cubic feet (from 116,034 million cubic feet in 2022 to 197,513 million cubic feet in 2023). These increases reflect the countries' enhanced LNG utilization and potentially shifting energy policies or market conditions.U.K. and South Korea: Slight Reductions in Import Volumes
The U.K. and South Korea each saw slight reductions in their LNG imports from the U.S. The U.K.'s imports decreased by 13,768 million cubic feet, going from 464,462 million cubic feet in 2022 to 450,694 million cubic feet in 2023. South Korea's imports were reduced by 16,953 million cubic feet, from 292,732 million cubic feet in 2022 to 275,779 million cubic feet in 2023. These minor decreases suggest slight adjustments rather than significant shifts in energy procurement strategies.Emerging Importers: India and Poland
India and Poland emerged as growing importers of U.S. LNG, with increases of 41,807 million cubic feet and 12,231 million cubic feet respectively. India's imports rose from 122,518 million cubic feet in 2022 to 164,325 million cubic feet in 2023, and Poland's from 127,404 million cubic feet in 2022 to 139,635 million cubic feet in 2023. These trends indicate a strengthening of energy ties and reliance on U.S. LNG in these markets.Frequently Asked Questions
Which country witnessed the largest increase in LNG exports from the U.S.?
The Netherlands had the largest increase in LNG exports from the U.S., with the volume rising by 210,228 million cubic feet.
Which countries noted a decline in imports of U.S. LNG in the reported period?
France and Spain experienced declines in their U.S. LNG imports, decreasing by 78,643 and 157,455 million cubic feet respectively.
Which countries showed significant growth in imports of LNG from the U.S.?
Japan and Italy demonstrated significant growth in LNG imports from the U.S., increasing by 100,970 and 81,479 million cubic feet respectively.
Which countries have emerged as growing importers of U.S. LNG?
India and Poland emerged as increasing importers of U.S. LNG, with imports rising by 41,807 and 12,231 million cubic feet respectively.
Terms and Definitions
Liquefied Natural Gas (LNG) is natural gas that has been cooled down to liquid form for ease and safety of non-pressurized storage or transport. It takes up about 1/600th the volume of natural gas in its gaseous state, making it more efficient to store and transport.
Natural gas is a fossil fuel that forms when remnants of plants and animals buried over millions of years, are exposed to intense heat and pressure. It's primarily used for heating, cooking, and electricity generation.
The energy market is the economic sector in which energy commodities such as oil, gas, coal, or electricity are traded. It includes both physical trading and derivatives trading.
Derivatives trading involves financial contracts, whose value is derived from underlying assets like commodities or equity. Traders speculate on the future price of the underlying asset to profit from price movements.
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