U.S. LNG Export Trends and Market Outlook for 2025

• U.S. LNG exports reached 8.5 million metric tonnes (MT) in December 2024, nearing the record of 8.6 MT set in December 2023.
• Total LNG exports for 2024 rose to 88.3 MT, up 4.5% from 2023, maintaining the U.S.’s position as the world’s largest LNG exporter.
• Europe remained the primary destination for U.S. LNG, accounting for 55% of annual exports, followed by Asia (34%) and Latin America (11%).
• Two new facilities, Cheniere Energy’s Stage 3 expansion and Venture Global’s Plaquemines plant, are set to add 30 MTPA to U.S. LNG output, tempering global price volatility in 2025.

Monthly Export Performance and Annual Trends

In December 2024, U.S. LNG exports reached 8.5 MT, marking a 9% increase from November’s 7.75 MT and coming close to the all-time high of 8.6 MT recorded in December 2023. For the year, total LNG exports climbed to 88.3 MT, up from 84.5 MT in 2023, according to preliminary data from financial firm LSEG.

Impact of New Facilities on Supply

Two major infrastructure projects, Cheniere Energy’s Stage 3 expansion at Corpus Christi, Texas, and Venture Global LNG’s Plaquemines plant in Louisiana, began operations in late 2024. Together, these facilities are expected to add 30 MTPA of annual capacity, crucial for balancing global LNG price volatility. According to Rapidan Energy Group’s Alex Munton, the scale of these projects will play a significant role in stabilizing the market in 2025.

Global Market Dynamics

Mild winters in Europe and steady flows of Russian gas via Ukraine helped mitigate price impacts in 2024, despite limited global supply growth. However, tighter supply-demand conditions are expected in 2025, putting U.S. LNG exports in focus as Europe’s reliance on alternative sources intensifies.

Regional Distribution of U.S. LNG Exports

Europe continued as the top destination for U.S. LNG, receiving 69% (5.84 MT) of December exports, up from 5.09 MT in November. Turkey emerged as a significant importer. Exports to Asia grew to 2.01 MT (24%) in December, while Latin America held steady at 0.58 MT. In 2024, Europe accounted for 55% of U.S. LNG exports, followed by Asia (34%) and Latin America (11%), with smaller volumes reaching the Middle East, including Egypt and Jordan.

Outlook for 2025 – Challenges and Opportunities

The late-December surge in LNG production drove record feedgas demand, with U.S. producers expected to ramp up supply in 2025. According to Ira Joseph, senior researcher at Columbia University, LNG feedgas demand is rising alongside increased energy consumption from data center and AI operations, intensifying the strain on production capacity.

As global LNG demand grows, the U.S.’s expanded output capabilities, bolstered by new facilities, are poised to address market challenges and maintain its leadership in the LNG export sector.