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US LNG exports approach monthly record in December

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US maintains spot as world's leading LNG exporter in 2025

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Two new facilities to add to US output gains this year

By Curtis Williams

HOUSTON, Jan 2 (Reuters) - U.S. LNG exports reached near

record levels in December, rising to 8.5 million metric tonnes

(MT) as two new plants started, and driving up full-year

shipments 4.5% over 2023, according preliminary data from

financial firm LSEG.

December's output was just short of the record monthly

export of 8.6 MT recorded in December 2023 and was 9% higher

than the 7.75 MT exported in November, according to LSEG data.

For the year, LNG exports hit 88.3 MT, up from 84.5 MT in

2023, ensuring the U.S. maintained its crown as the world's

largest LNG exporter, according to LSEG data.

Cheniere Energy's startup of its Stage 3 expansion

at Corpus Christi, Texas, and Venture Global LNG's launch of its

Plaquemines plant in Louisiana, are expected over time to add 30

MTPA to U.S. annual output.

"Growth in U.S. exports from new capacity coming online

particularly at Plaquemines given its large scale will be

crucial to tempering some of the global LNG price volatility we

expect in 2025," said Alex Munton director of global gas and LNG

research at consulting firm Rapidan Energy Group.

MARKET TO CHANGE IN 2025

Global LNG supply growth last year was minimal but the

impact on prices was muted since last winter was mild in Europe,

helping gas in storage stay high. Russian gas also continued to

flow to Europe through Ukraine.

Neither of those conditions are expected to continue this

year, and supply-to-demand conditions will be significantly

tighter, putting a spotlight on U.S. export growth, said Munton.

Europe remained the preferred destination for U.S. LNG

exports in December, with 5.84 MT or 69% of the superchilled gas

sold to the continent, compared to 5.09 MT in November.

U.S. exports to Europe saw a myriad of countries buying the

superchilled gas as winter began to set in, with Turkey being

one of the major European destinations for U.S. LNG in December,

according to LSEG data.

Total exports to Asia grew slightly in December to 2.01 MT,

or 24%, up from 1.64 MT or 21% of total exports in November.

Latin America took .58 MT, the same as November 2024, LSEG data

showed. There was also one cargo for .07 MT sold to Jordan,

according to LSEG data.

In 2024 Europe accounted for 55% of total US LNG exports,

34% of total US exports went to Asia while the next 11% went

mainly to Latin America with a few cargoes to the Middle East,

mainly to Egypt and Jordan, LSEG data showed.

Higher LNG production in late December has led to record

feedgas demand and producers will have to play catch up this

year, said Ira Joseph, an LNG market expert and senior

researcher at Columbia University's Center on Global Energy

Policy.

"U.S. gas producers have long prepared for the ramp up in

LNG feedgas demand, which is starting and picking up pace in

2025, but what is also true is that data center- and AI-related

demand is coming at the same time," said Joseph.