Report: Asia becoming largest importer of U.S. LNG

Cheniere’s Sabine Pass LNG terminal in Louisiana shipped ten liquefied natural gas cargoes to Asian countries during December. 

The facility shipped a total of 12 cargoes during the last month of 2016, Bloomberg reports, noting that the rise in number of cargoes sent to Asia is a strong indication that the previous trend of sending cargoes to Latin America is changing.

The demand for US LNG in Asia stems from the cold winter temperatures pushing the demand for heating and power production up. Spot LNG prices have also gone up 79 percent since July, the report shows.

Cheniere started exports from the Sabine Pass liquefaction plant in February last year with the majority of cargoes landing in Latin America.

The U.S. is expected to become the world’s third-largest LNG supplier by 2020 with an export capacity of 60 million mt coming from five export terminals.

LNG World News Staff