The Energy Information Administration (EIA) has reported that US natural gas exports have been declining since April and the onset of the COVID-19 pandemic.
The US became a net natural gas exporter for the first time in nearly 60 years in 2017 and since then, according to the EIA, US net natural gas exports have more than doubled every year: from 0.3 billion cubic feet per day (Bcf/d) in 2017 to 2 Bcf/d in 2018 and to 5.2 Bcf/d in 2019.
According to an article published on the EIA website yesterday (15 September): ‘US LNG exports continued to grow in the first three months of 2020, averaging 7.9 Bcf/d, a 3.9 Bcf/d (98%) increase compared with the same period last year.’
However, the article added that: ‘LNG exports started to decline in April amid global reduction in natural gas consumption and a decline in global natural gas and LNG prices. In June 2020, U.S. LNG exports averaged 3.6 Bcf/d, or less than half of January’s LNG exports, and they continued to decline in July to 3.1 Bcf/d.’
The EIA article said that net exports began declining in spring 2020 ‘as a result of a global economic slowdown amid the spread of the coronavirus disease (COVID-19) and related containment efforts’.