Europe overtakes Asia as top destination for U.S. LNG exports

The U.S. sent nearly three-quarters of LNG to Europe in the first four months of 2022, the U.S. Energy Information Administration said on Tuesday, with daily shipments to the region more than triple the average last year. Last year, the European Union provided only a third of the supply to the United States. The increase means that the U.S. now accounts for nearly half of Europe's LNG imports, about twice as much as it did in 2021.

Asia has been the destination of nearly half of U.S. liquefied natural gas (LNG) cargoes in the past two years, but Asian LNG exports have fallen by half by 2022, the U.S. Energy Information Administration said.

The U.S. has also boosted overall LNG exports this year. Shipments of ultra-cold fuel surged 18% from 2021 levels to an average of 11.5 billion cubic feet per day as capacity at the Sabine Pass and Calcasieu Pass terminals increased.