- Globally, LNG production and exports are rising fast
- The phenomenon could drastically alter the European gas market
- Russia is maneuvering to maintain and grow its market share in Europe
- The U.S. and other LNG exporters are cooperating to break Moscow’s grip
Although the United States only began exporting liquefied natural gas (LNG) in February 2016, it now sends the fuel to 33 countries worldwide. With the globe’s most efficient and competitive natural gas industry, the U.S. is poised to become the largest LNG exporter by 2025 – perhaps even earlier. The industry there benefits from an overhauled regulatory environment and the discovery of a huge new oil and gas field last year. American LNG exports (along with increased capacities in Qatar, Australia, Russia, Canada and other countries) have the potential to disrupt global gas trade patterns and dramatically transform the European market over the next two decades.