New Report: American LNG Rises to Meet European Demand
Tue, November 08, 2022
Austin, Texas - Today, Texans for Natural Gas (TNG), an education campaign of the Texas Independent Producers and Royalty Owners Association (TIPRO), released a new report on how over the past year U.S. natural gas provided an essential lifeline to Europe amid Russian aggression. The report, “Delivering Energy Security: Texas LNG Is Helping Keep Europe’s Lights On,” examines liquefied natural gas (LNG) export trends following Russia’s invasion of Ukraine and the subsequent European energy crisis.
“Texas energy – from our wells in West Texas to our ports along the Gulf of Mexico – enabled America to meet European gas needs in a time of crisis,” said Ed Longanecker, president of TIPRO and spokesperson for TNG. “This report truly illustrates the critical importance of energy security. Without American natural gas, Europe would have been at the mercy of aggressive foreign powers.”
Key takeaways from the new report include:
- America drastically increased its LNG exports to Europe: 74 percent of all U.S. exports went to Europe in the first of half of 2022. In that same period in 2021, exports to Europe only represented 34 percent of U.S. LNG exports.
- America shifted LNG exports from Asia to Europe: In June 2021, the top two destinations for U.S. LNG exports were South Korea and China, respectively. In June 2022, the top two destinations for U.S. LNG exports were France and the Netherlands.
- Europe turned away from Russian natural gas: There was a 40 percent decrease in Russian piped natural gas to the EU and UK from January to July 2022.
- Texas helps drive U.S. natural gas production: About a quarter of U.S. natural gas is produced in Texas.
- Texas ports, like Corpus Christi, provided essential infrastructure to meet European demand: 90.1 million tons of LNG moved through Port of Corpus Christi in the first half of 2022.
- Texas export facilities will feed future European demand: About 96 percent of planned U.S. LNG export capacity will be located in the Gulf of Mexico and supplied largely by Texas natural gas.
The complete report can be found here.