Will LNG Remain Strong in the USA?

The long-term pause in new US LNG investment could transform the market, according to Giles Farrer, head of gas and LNG asset research at Wood Mackenzie   Addressing US President Joe Biden’s executive order to temporarily pause new approvals for LNG exports, Giles Farrer, head of gas and LNG asset research at Wood Mackenzie says: ‘The decision will not affect our forecast for US LNG exports out to 2028, but after that it could affect the trajectory and pace of the sector’s growth and have potential to tighten the market in the long run.’ The pause affects countries with which the USA does not have a Free Trade Agreement (FTA), allowing for a review of new projects.   World's Largest Exporter In 2023, the US became the world’s largest LNG exporter, overtaking Qatar, and Australia. To meet growing global demand, Wood Mackenzie forecasts that US LNG and Mexican LNG project export capacity would reach 238 million metric tonnes per annum (mmtpa) of LNG by 2050, accounting for 30% of global LNG supply. However, despite gas producing around 50% lower emissions than coal when combusted, climate scientists have raised questions about how much methane is leaked...