U.S. LNG exports rose by 8.6% year/year to average 10.6 Bcf/d in 2022, with demand growth driven by European markets seeking a substitute for Russian supply, according to FERC.

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Coincidentally, the figure for net exports of natural gas overall – including liquefied natural gas and pipeline exports – also was 10.6 Bcf/d, up slightly from 10.5 Bcf/d in 2021, the Federal Energy Regulatory Commission said in its 2022 State of the Market report.

“Tight LNG supplies contributed to increasing international prices, which reached record levels, incentivizing U.S. LNG exports,” researchers said. “The approval and expansion of multiple LNG export facilities in 2022 increased LNG liquefaction capacity to serve the growing international LNG demand to higher-priced...