KEY POINTS
- US LNG exports rise 23%.
- Asia-bound shipments double.
- Exports could reach 18.7 Bcf/d in 2027.
US liquefied natural gas, LNG, exports increased sharply in the first half of 2026, averaging 17.4 billion cubic feet per day (Bcf/d), according to the US Energy Information Administration (EIA).
The figure represents a 23% increase compared with the same period in 2025 and marks the fastest growth in US LNG exports since the country began large-scale LNG shipments in 2016.
The increase was largely driven by additional export capacity from newly commissioned LNG terminals and expansions at existing facilities, allowing US producers to send more gas to international markets.
The expansion of US LNG export capacity has played a major role in the increase.
Plaquemines LNG is now exporting at full capacity, while Corpus Christi LNG’s Stage 3 project is exporting gas from six of its seven liquefaction trains.
Once fully operational, the two projects are expected to add about 4 Bcf/d to US nominal LNG export capacity.
Golden Pass LNG also began exporting in April 2026. Its first train is expected to increase exports through the end of the year, contributing an additional 0.7 Bcf/d of nominal capacity.
Golden Pass LNG’s second train is expected to be completed later in 2026, providing further potential for US export growth. Favourable international LNG prices have also encouraged US terminals to operate close to maximum output.
The average price at Europe’s Title Transfer Facility (TTF), the region’s key natural gas benchmark, reached $14.74 per million British thermal units (MMBtu) during the first half of 2026.
That was up from $13.10/MMBtu during the corresponding period in 2025 and represented the highest first-half average since the sharp energy-price increases that followed Russia’s invasion of Ukraine in 2022.
Higher international prices have helped make US LNG exports economically attractive, supporting strong utilisation of available liquefaction capacity.
Strait of Hormuz disruption reshapes LNG trade
Geopolitical disruptions also played an important role in the LNG market during the first half of the year.
Disruptions to LNG shipments through the Strait of Hormuz in March reduced access to a significant portion of global LNG supplies, with Qatar particularly affected.
The disruption reportedly cut off about 20% of global LNG supplies and forced Asian buyers to compete for alternative spot cargoes.
Asian countries that rely heavily on Qatari LNG were particularly exposed to the disruption, increasing demand for LNG from other suppliers, including the United States. The shift in global LNG flows was reflected in US export destinations.
US LNG shipments to Asia more than doubled during the first half of 2026 compared with the same period in 2025.
Exports to Asia increased by 2.3 Bcf/d, representing a 108% year-on-year rise.
The growth was significantly larger than the increase in shipments to Europe, where US LNG exports rose by just 0.1 Bcf/d, or 1%, during the same period.
Exports to Latin America and the Caribbean, as well as the Middle East and North Africa, also increased, rising by a combined 0.8 Bcf/d, or 46%.
The figures show how changing market conditions and supply disruptions have broadened demand for US LNG beyond its traditional major markets. The increase in US LNG shipments to Asia was also supported by stronger regional demand.
The Japan-Korea Marker (JKM), a key benchmark for LNG delivered to East Asia, averaged $15.56/MMBtu during the first half of 2026.
That was $2.38/MMBtu higher than the average during the first half of 2025 and represented a four-year high.
Hot weather contributed to stronger spot LNG demand in the region, adding to the pressure on available supplies and creating stronger market opportunities for US exporters.
