The U.S. Had the Largest Growth in LNG Exports in the World in 2020 Study Shows

June 3, 2021

Despite weathering a global pandemic that shook the oil and gas industry. U.S. LNG exports increased 33% from 2019, the largest growth in the world, according to the International Gas Union’s World LNG report released this morning. The report found the U.S. exported 44.8 metric tons of liquified natural gas in 2020, the third most of any country behind Qatar and Australia.

The Washington Examiner’s Daily on Energy reports:

Sindre Knutsson, vice president of gas markets at Rystad Energy, a research group, told Josh he expects even more growth in U.S. LNG exports this year, by up to 50%. Rystad expects the U.S. to be the top exporter of LNG globally by 2024.

This could get awkward for Biden: The Trump administration boasted of the U.S.’ emerging status as an LNG export power, and actively promoted sending natural gas to Europe to reduce dependence on Russia.

Knutsson said he hasn’t seen “any change” in the bullish outlook for LNG despite the Biden administration’s murky stance on the role natural gas exports should play in the energy transition.

While the Biden administration has done nothing but try to tear down the industry, the astonishing value it brings to the United States still shines through. Developing nations that are looking to diversify their energy needs off dirtier coal need LNG to do so. Even Energy Secretary Jennifer Granholm said U.S. LNG exports can play an “important role” in reducing consumption of dirtier fuels.

“The administration really needs to figure out its position on LNG because the developing world is demanding this clean fuel. It needs to work through that very quickly,” [Dan] Brouillette said. “Like it or not, natural gas will be a large part of the clean energy transition and global energy demand for decades to come.”

It is in Biden’s best interest to bolster up the industry that is expected to grow even more this year by up to 50%, with the potential for the U.S. to be the top exporter of LNG globally by 2024. Not only will the industry provide high-paying American energy jobs and billions in revenue, but it will also provide developing nations cleaner fuel options to reduce their emissions. Which is necessary to even have a chance at fulfilling the Paris Agreement pledge considering the United States’ emissions isn’t the real problem.

As Biden’s Climate Envoy John Kerry has himself admitted: “Almost 90 percent of all of the planet’s global emissions come from outside of U.S. borders.  We could go to zero tomorrow and the problem isn’t solved.”