U.S. LNG Exports to EU Jump 36% in August

SEATTLE (Oil Monster): U.S. liquefied natural gas exports to the European Union rose sharply in August, with EU-bound shipments reaching approximately 5.5 million metric tons, according to data cited from the U.S. Energy Information Administration.

EU Takes 51% of U.S. LNG Exports

According to the latest data cited from the U.S. Department of Energy’s Energy Information Administration, U.S. exports of liquefied natural gas to the European Union increased 36% in August compared with July, reaching approximately 5.5 million metric tons.

Total U.S. LNG exports during August amounted to approximately 10.8 million metric tons, with 51% destined for the EU.

Netherlands Leads EU Destinations

Among EU member states, the Netherlands received the largest volume of U.S. LNG at approximately 1.2 million metric tons, an increase of nearly 5% from the previous month.

Italy ranked second, receiving 1 million metric tons.

U.S. LNG exports to France more than doubled in August to approximately 800,000 metric tons, while shipments to Germany increased by 170% to around 700,000 metric tons.

European Buyers Increase U.S. LNG Purchases

A Reuters analysis cited in the source report said that the prolonged conflict involving Iran has pushed international energy prices higher, leading many European countries to diversify their energy supplies by increasing imports from the United States.

European countries have also increased purchases as they build natural gas inventories ahead of the winter season.

U.S.-EU LNG Trade Has Expanded Since 2016

EIA data indicates that the United States first exported LNG to the European Union in April 2016, with Portugal serving as the initial recipient.

Since September 2020, the United States has maintained a steady supply of LNG to the Netherlands.

Courtesy: www.sunsirs.com