Reuters highlights that, U.S. liquefied natural gas (LNG) producers ramped up exports in October, to 7.92 million metric tons, according to data provider LSEG, the second-highest monthly level on record.
s informed, exports were just shy of the record 8.01 million metric tons in April this year, and were up from 7.12 million metric tons in September, when plant maintenance reduced U.S. production.
Furthermore, the U.S. was the world’s largest exporter of LNG in the first half of this year, according to the Energy Information Agency, ahead of Qatar and Australia.
With an 8 percentage point increase to 60% of all U.S. LNG exports last month, Europe continued to be the top consumer of American LNG. 20% of exports were made to consumers in Asia, down from 30% a month earlier, while 5% of shipments were received from Latin America, down from 8% in September.
Europe has been taking more U.S. gas after Russia cut pipeline supplies and countries shunned its energy exports over its invasion of Ukraine.
Underground gas storage facilities in Europe are nearly full and some Asian LNG buyers have “shown reluctance to buy LNG recently,” consultancy Rystad Energy said in a note on Wednesday.