And it won't stop there Due to rapidly growing demand for gas in Asia, coupled with Europe's shift to LNG, more and more US export projects are moving forward US exports are slated to double this decade, cementing the nation as the king of LNG

The US became the world's biggest LNG exporter in 2023 as more projects started up, like Venture Global's Calcasieu Pass (which has its own drama that I will address in another thread someday)

Europe avoided a crippling gas shortage in 2022 and 2023 “Putin calculated that he could use the gas weapon to shatter the coalition supporting Ukraine,” energy historian Daniel Yergin told me recently. “It failed largely because of LNG” And that LNG is US LNG

(When considering gas shipped through pipelines as well, the US is the bloc’s second-largest gas supplier after neighbor Norway — a serious coup for the North American nation that only began exporting its shale gas in 2016)

In a very short window, the US has carved out a meaningful share of Europe’s gas supply, eclipsing any remaining Russian deliveries America’s booming shipments today account for about half of the region’s LNG imports, a share that is widely expected to grow further

Russian pipeline gas flows to Europe drastically fell during the course of 2022 (due in part to turbine troubles) Nord Stream 1 and 2 pipelines exploded in September 2022 in the clearest signal yet that Europe won't easily return to Russian gas How will Europe fill the void? 🇺🇸

Just weeks after the invasion, Germany -- which until then was planning to import more Russian gas from Nord Stream 2 -- fast-tracked its first LNG import terminals by renting five floating storage and regasification units Where will they get the LNG supply? 🇺🇸

After Russia invaded Ukraine in February 2022, the energy crisis already gripping Europe ramped into high-gear Biden promised to send more US LNG to Europe (which made no sense because US government doesn't control supply) to wean the region off Russian gas

The shift of US LNG to Europe isn't so much about Biden helping out his pals across the Atlantic It's a business decision, most likely by an oil major or Japanese utility which hold the long-term supply contract The flexibility of US LNG was in full view

It soon became WAY more profitable to send US LNG to Europe than Asia (the traditional market for US LNG until this point) At the end of 2021, there was this really dramatic LNG ship diversion from Asia to Europe -- choosing to go through the Panama Canal twice!