The first American LNG cargo produced from shale gas was shipped in 2016, and the nation is expected to have the world’s largest export capacity by the end of 2022 after new units start up, according to @EIAgov
The shale gas revolution, coupled with billions of dollars of investments in liquefaction facilities, transformed the US from a net LNG importer to a top exporter in less than a decade
US gas production has surged ~70% from 2010 as the nation unlocked shale reserves
Natural gas prices in Europe fell for a ninth straight day in the longest streak of losses in seven years (!) due in part to a jump in LNG deliveries📉📉
Global LNG exports surged to a record last month as projects boosted output, according to ship data
Despite the massive drop in European natural gas futures over the last two days, prices are still way higher than normal and very expensive for consumers
Until this year, TTF barely broke 30 euros/MWh. Now it is casually trading around 100 euros
The rest of December is set to be colder than usual and this will persist into January with widespread below average temperatures for the first two weeks ⛄️
Frigid cold weather means rolling blackouts could be a last resort ⚡️
Russian natural gas flows remain weak, exacerbating the supply crunch 🇷🇺
If Russian gas exports remain at current levels, Europe’s storage sites will be less than 15% full at the end of March, the lowest on record, according to consultant consultant Wood Mackenzie