An LNG tanker navigating the Panama Canal
Outlook 2024: The importance of US LNG in transforming the global market
US LNG has been a key driver in linking Asian, European and Latin American spot cargoes
The re-emergence of the US as an LNG exporter in March 2016 greatly accelerated the linking of global gas markets that had previously priced on their own supply-demand fundamentals. The addition of large volumes of freely divertible LNG supply to the global mix, in contrast to the mostly destination-restricted supply that had gone before, meant that traders could quickly close arbitrage opportunities between the largest global LNG import markets. A cold winter in Asia (like in 2017–18) or a drought in Brazil (like in 2021) would result in European firms with US offtake diverting their supply to higher-priced markets. And when Russia weaponised its pipeline gas exports to Europe following (ar
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
