- The U.S. exported 30% of its primary energy production in 2024—overwhelmingly fossil fuels—setting new highs for both production and outbound shipments.
- Petroleum exports led the surge, followed by natural gas and coal, with Europe and Asia taking the bulk amid shifting global energy flows post-Ukraine invasion.
- Policy support, new offshore leasing, and infrastructure expansions point to further export growth in the years ahead.
The U.S. Energy Information Administration (EIA) reported that in 2024 the country produced a record 103 quadrillion British thermal units (quads) of primary energy, exporting 31 quads—about 30% of the total. Nearly all exports consisted of fossil fuels bound for markets in North America, Europe, and Asia. The Netherlands ranked among the top five destinations, often acting as a gateway for re-exports to other European countries due to its storage capacity and trading hub in Rotterdam, according to Offshore Energy.
Petroleum Dominates Export Growth
In 2024, 55% of U.S. crude oil and natural gas plant liquids (NGPL) production was exported, either as raw crude or refined products such as propane, distillate fuel oil, and gasoline—averaging 10.8 million barrels per day. Growth was driven by the lifting of crude export restrictions in 2016, expanding export infrastructure, and Europe’s ban on Russian seaborne crude.
Top destinations: Mexico (11%), Netherlands (10%), China (8%).
Production outlook: Ongoing exploration and projects like BP’s Argos Southwest Extension in the Gulf of America are set to boost output further.
Natural Gas Exports Climb on LNG Capacity
Dry natural gas exports accounted for 20% of U.S. production in 2024, totaling 7.7 billion cubic feet per day. Mexico was the leading buyer (31%), followed by Canada (13%) and the Netherlands (6%). Growth was fueled by expanded liquefied natural gas (LNG) facilities and stronger European demand following the drop in Russian supplies after 2022.
Recent milestones: Bechtel completed Train 2 of Cheniere’s Corpus Christi Stage 3, Cheniere signed a 20-year LNG deal with JERA, and Venture Global received DOE approval to expand Calcasieu Pass capacity.
Coal Exports Rise Despite Domestic Decline
Coal accounted for 25% of U.S. production in 2024, or 108 million short tons, with Asia and Africa seeing increased shipments while European imports fell. The largest buyers were India (23%), China (12%), and Brazil (8%). Exports now make up a bigger share of a shrinking domestic coal market due to plant retirements and reduced U.S. consumption.
Policy Signals Continued Export Growth
President Trump’s energy agenda—favoring oil, gas, and LNG—alongside new federal leasing opportunities is set to sustain upward export trends. The Bureau of Ocean Energy Management plans to offer about 15,000 unleased blocks in the Gulf of America’s Outer Continental Shelf for oil and gas exploration.
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Source: Offshore Energy
