US LNG industry
Summary
USA has largest gas marker in the world.
USA has 8 LNG plants and 96 MTPA of LNG capacity (as of 17.06.2025).
The United States is currently the leading exporter of LNG to the global market. The LNG industry in the United States began with the development of regasification terminals for LNG imports to the United States. However, thanks to the shale revolution and active pressing of Russia, the United States has rapidly become the number one LNG exporter and will only strengthen its leadership in the coming years.
The top three countries importing LNG from the United States as of June 2025 are France (8.7 million tons over the past 12 months), the Netherlands (8.4) and the United Kingdom (6.6). Europe as a whole has imported 48.4 million tons over the past 12 months.
Natural gas production
The US natural gas market is the largest in the world. Shale gas, natural gas extracted from shale deposits, played a significant role in its development in the 21st century and the creation of the LNG export industry.
The largest groups of shale gas deposits:
Marcellus. The average daily production volume in February 2024 is 835 million cubic meters per day. Production continues to grow year by year.
Haynesville. The average daily production volume in February 2024 is 405 million cubic meters per day. Production continues to grow year by year.
Utica. The average daily production volume in February 2024 is 195 million cubic meters per day. Production continues to grow year by year.
The market price of natural gas at US market is one of the lowest in the world. Of the major gas markets, only the markets of Russia and the Middle East (the largest gas producing countries with a monopoly on the domestic gas market) have lower gas prices. The gas markets of Europe and East Asia have significantly higher prices for natural gas.
At this point in time, LNG exports are not yet marginal demand in the US domestic market (that is, they are not price-forming), however, as LNG export capacities grow, they are approaching this.
LNG plants
The first Kenai LNG plant was built in Alaska in 1969. The plant's capacity was 1.5 million tons per year. The plant operated until 2015 and at that time was the only LNG plant in the USA.
The recent history of the U.S. LNG industry begins with the launch of the Sabine Passage LNG plant in Louisiana in 2016.
As of June 2025 USA has 8 operating LNG plants:
Sabine Pass
Freeport
Corpus Christi
Cameron
Calcasieu Pass
Cove Point
Elba Island
Plaquemines
In 2024, the Biden administration imposed a ban on the construction of future LNG plants (so called “LNG pause“). The reason under the ban is protect giant US domestic market from changing marginal pricing from a balance of domestic supply and demand (and expected low domestic gas prices) to an export alternative (and expected high domestic gas prices). This transition would lead to a sharp (at least twofold) expected increase in domestic gas prices, then on the domestic electricity market, and a corresponding increase in energy costs for all numerous local producers. It should be noted that many countries with strong central authorities adhere to this practice of limiting domestic energy prices to the detriment of exports.
In January 2025, the new Trump administration lifted this ban. 29.05.2025 US Department of Energy has resumed export licensing for new liquefaction projects starting with Phase 2 of Sempra’s Port Arthur.
On April 2, 2025, Trump imposed high import duties on almost all US trading partners. After that, Trump changed his approach to levying duties many times, but it was this event that became a key factor in uncertainty about future trade flows in the international LNG market. The Trump administration is forcing foreign countries to purchase LNG from the United States, as well as invest in future LNG projects in the United States, primarily the Alaska LNG plant.
Calcasieu Pass
In April 2025, the Calcasieu Pass LNG plant in Louisiana began formal commercial operation three years after the actual one. The owner of the plant, Venture Global LNG (Venture Global LNC), founded by financier Mikhail Sabel, delayed the formal commissioning of its plant for many years in order to sell LNG at high spot prices in 2022-2024, rather than comply with previously concluded long-term contracts with formula prices. In terms of formula prices, LNG was significantly cheaper for customers during this period. In early April, against the backdrop of Trump's trade war, prices in the energy markets fell, which probably prompted Mikhail to begin fulfilling contractual obligations.
The list of buyers of so-called “freedom” molecules from this plant includes British Shell and BP, Polish PKN Orlen, Spanish Repsol, Italian Edison, Portuguese Galp, Chinese Petrochemical Corporation and the Chinese National Offshore Oil Corporation. The total volume of binding supply contracts is 10 million tons/year (84% of the design capacity of the LNG plant).
The buyers are conducting legal proceedings against the company that owns the plant. At the same time, deliveries to China under these agreements will obviously not be carried out in view of China's retaliatory duties.
Plaquemines
In the fourth quarter of 2024, the first line of the giant Plaquemines plant on the Mississippi River was launched. The plant will have 36 lines with a capacity of 560-740 thousand tons per year each. The commissioning of the lines will last until 2028.
Port Arthur
This future LNG plant in Texas has two 13.5 MTPA trains. US DOE granted on 29.05.2025 export license for train 2.
The project is developed by Sempra.
Alaska
The new Trump administration began actively developing the Alaska LNG project in the first quarter of 2025. The capacity of the three lines of the planned plant is 20 million tons per year. The deadline for commissioning is 2029-2031. The cost of this project is estimated at 3.7 trillion rubles ($44 billion). The key point is to find guaranteed buyers for LNG from this plant before starting expensive investments. The Trump administration is looking for. First of all, through threats of tariffs on the export of goods from foreign countries to the United States. Japan and the Chinese province of Taiwan are among the pre-agreed buyers to contract gas from this project.
Commonwealth
In April 2025, the US-based Kimmeridge gas company sold 24.1% of its subsidiary Yuzhnotekhas Holding Company, which produces gas in Texas and is developing an LNG plant construction project in Louisiana, to the Abu Dhabi-based Mubadala Fund (UAE), specializing in investments in the energy sector. The Sodruzhestvo LNG plant project includes the construction of six lines with a total capacity of 9.5 million tons of LNG per year with their launch in 2029. For the Mubadala Foundation, this is the first project in the United States.
LNG loadings and export
USA is currently the largest producer of LNG and is guaranteed to remain so over the coming years. US LNG industry is living its best life.
United States continues to successfully monetize the crisis in Eastern Europe in 2013 initiated by Biden (Vice President 2009-2017, president in 2021-2025) and elimination of Russian energy resources from European market. Commissioning of LNG plants in USA is synchronized with disconnections of Europe from Russian pipeline gas and LNG.
In the coming years, the balancing of Atlantic Basin gas market will be carried out by the United States through the supply of its LNG and, if necessary, the remaining supplies of Russian pipeline gas to Europe and Turkey. Among the “shutdown” mechanisms already used Russia's dependence on the global gas market:
Short-term permits from Turkey to pay for gas purchased in Russia, supplied via the Turkish and Blue Streams. Blocking other transfers from Russia to Turkey, which for some reason still go through US banks (for example, blocking JP Morgan's transfer of $ 2 billion to a Turkish bank as part of a loan for the construction of the Akkuyu nuclear power plant). Apparently, the Erdogan administration is not allowed to make such decisions on gas imports on its own and is kept on a short leash.
Attacks by British ships and Ukrainian UAVs of onshore compressor stations of these gas pipelines, including the blowing up of Sudga and the attack on the compressor station of the Turkish Stream.
Inclusion of ice class LNG carriers in hate lists of Great Britain, USA and EU.
An attempt to take control of the bankrupt owner of the Nord Streams.
In January 2025, the goal setting of the future US foreign policy regarding China's LNG industry was implemented. The leading Chinese companies in the LNG industry, along with companies from other industries, have been declared dangerous to the United States by the Department of Defense. By analogy, the US policy was previously based in relation to the Chinese telecommunications giant Huawei, as well as Russian oil and gas companies (Sovcomflot, Novatek, Gazprom). For the upcoming Trump administration, China is the main red rag. In March and April, tariffs on imports of Chinese goods to the United States totaling 54% were introduced in two rounds (as of April 8). As a countermeasure, China imposed a tariff on LNG from the United States (10% from March and 44% from April). This has stopped LNG shipments from the United States to China since March, despite existing long-term contracts.
The table “Monthly LNG loadings volumes at US ports“ provides statistics on the loading of gas carriers in US ports with aggregation for calendar months. The data is available from October 2022. 01.MM.YYYY means shipments for the entire calendar month starting on that day. Shipments for the current month are indicated by cumulative total from the first day of the month to the current date. The delay in receiving data is up to one day. The data is updated automatically.
The table “Details of LNG loadings in USA during last 30 days“ provides the data on loading of gas carriers at gas-liquefying plants in USA during last 30 days and is updated automatically.
Trump imposed on 7.03.2025 duties on ships built in China or flying the Chinese flag to enter US ports. The exact amount of the duty has not been announced at this point in time, but ship brokers estimate its possible amount at 1.3 million rubles per one-time entry of a gas carrier into a US port.
Export destinations
The table “Destination countries of US LNG Export" provides statistics on importing countries of US LNG with aggregation by calendar months. The date of gas carrier loading is used, the data on importing country is available upon discharge. The data has been provided since 01.09.2022 and is updated automatically. Data for the current month is shown as a MTD.
The export directions are very diversified. As of 06/18/2025, the largest LNG consumers in the last 365 days are from the USA:
France - 8.7 million tons in the last 12 months.
The Netherlands - 8.4. The Netherlands is the gas gateway of North-Western Europe. In the third quarter of 2023, the decrease in imports of all LNG to continental Europe was influenced by the occupancy of European UGS facilities.
Great Britain - 6.6. Great Britain is the closest major market for LNG from the USA. However, the possibility of importing in some summer months is limited by the extremely low volume of UGS in the UK - in such cases, the import of any LNG to the UK is stopped.
Spain - 6.2
Turkey - 5.4. LNG imports to Turkey are seasonal (from October to April) and are intended to cover peak demand for gas and electricity during cold weather. LNG imports from the United States are growing every year.
Japan - 5.4. Winter exports to Japan are strongly affected by traffic jams in the Panama Canal, through which U.S. LNG carriers must pass on their way to Japan. This forces the United States to export to countries other than through the Panama Canal, and Japan, in turn, to look for a replacement for LNG from the United States on the spot market.
South Korea - 5.4
As a result of Trump's second trade war against China, China has practically stopped importing LNG from the United States since the fall of 2024 for political and economic reasons and, accordingly, dropped out of the list of the largest importers.
Regas terminals
There are three regasification terminals in USA:
Everett terminal has a capacity of 5.4 million tons per year in Massachusetts.
Ponce and San Juan terminals have a total capacity of 3.2 million tons per year in Puerto Rico.
Shipments to Boston take place during the cold season and usually do not exceed one standard ship shipment per month.
Pipeine export-import of natural gas
In addition to LNG exports, the United States is actively developing pipeline gas exports. The importer is neighboring Mexico, where industry is actively developing. In 2023, the United States exported 66 billion cubic meters of gas to Mexico. At the same time, as of September 2024, two more gas pipelines from the United States to Mexico with a total capacity of 55 billion cubic meters of gas per year are under construction.
Mexico's potential countermeasures in response to the Trump administration's imposition of tariffs on imports of Mexican goods to the United States could realistically include retaliatory tariffs on imports of natural gas from the United States to Mexico by LNG plants owned by U.S. companies.
Notes:
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