finance

U.S. Natural Gas Output Returns To High Level Despite Falling LNG Prices 

February 21 ,2024
Cheniere gas facility

Russian gas supplies to Europe have been stable, at 88.28 MMcmd on 17 February, compared to 89.66 MMcmd on 10 February. 

European storage levels were 75.23 Bcm or 65.5% full as of 17 February, compared to 77.05 Bcm or 67.1% full on 10 February.

This is 6.7% higher than the 70.50 Bcm reported on the same date a year ago.

In the full-year 2023, U.S. was the largest LNG export, surging by 14.7% to 88.9 million metric tons (MT) driven largely by the return to full production of the Freeport LNG plant that had suffered a fire in 2022, and as others increased processing efficiency, LSEG data showed.

U.S. took over Qatar's position, which was the largest LNG exporter in 2022. (*)

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