In February, U.S. liquefied natural gas (LNG) exports experienced a 7% decline compared to January, according to preliminary data from financial firm LSEG.
The decrease was attributed to a month-long shutdown at the Freeport LNG plant in Texas and a shorter month.
Despite this, the United States maintained its position as the world’s leading LNG exporter, surpassing Qatar and Australia.
February saw U.S. LNG exports drop to 7.73 million metric tons (MT), down from 8.3 MT in January and a record 8.6 MT in December of the previous year.
The outage at one of Freeport LNG’s liquefaction units in Texas, which has been offline for over a month due to issues with an electric motor, was the primary cause of the decline.
Repairs are underway, but the unit is expected to remain offline for approximately two more weeks, likely impacting March’s LNG exports.
According to financial firm Tudor Pickering & Holt, deliveries of U.S. gas to LNG plants decreased to 13.9 billion cubic feet per day (bcfd) last week, with plants operating at about 95% of capacity compared to 97% at the end of January.
Europe remained the largest importer of U.S. LNG, followed by Asia and Latin America.
Europe, which significantly reduced its imports of pipeline gas from Russia following geopolitical tensions, received 4.62 MT of U.S. LNG in February, down from 5.5 MT in January.
Asia’s share of exports increased to 1.96 MT, while Latin America received 0.49 MT.
India and Thailand saw increased LNG imports from the U.S. last month, with five and two cargoes respectively.
Security concerns in the Red Sea and drought in the Panama Canal have led to more U.S. cargoes taking the longer route to Asia via the Cape of Good Hope.
Latin American countries such as Brazil, the Dominican Republic, Colombia, and Jamaica also received LNG cargoes from the U.S. in February.
Despite challenges, U.S. LNG exports continue to play a significant role in global energy markets.