The Liquefied Natural Gas (LNG) export in the US has observed substantial growth from 2013 to 2023, with an exponential rise noted particularly from 2017 onwards. The export volume has grown from 150 million cubic meters in 2013 to 126,050 million cubic meters in 2023. The most significant growth was between 2016 and 2017 at 325.91%, while the year-on-year variation for 2023 stood at 20.85%. Analyzing the last five years, the compound annual growth rate (CAGR) is marked at 34.56%, indicating strong and consistent growth in the US LNG exports.
Looking ahead, from 2024 to 2028, the US LNG export volume is forecasted to reach 218,810 million cubic meters by 2028. The forecasted CAGR for this period is 8.61%, with an overall five-year growth rate of 51.13%, suggesting a deceleration in growth rate compared to previous years but still a positive upward trend.
Future trends to watch for include:
- The impact of global market dynamics and geopolitical factors on LNG demand and supply.
- Advancements in LNG technology and infrastructure, potentially influencing production and export capacities.
- Shifts in energy policies and the ongoing transition towards renewable energy sources affecting the LNG market outlook.
