The US Energy Information Administration (EIA) said that LNG exports from the country spiked 98% to an average of 7.9 Bcfd in the first quarter of 2020. However, LNG exports began to gradually fall in April due to weaker global natural gas consumption and low LNG prices caused by the coronavirus pandemic. In June, US LNG exports fell to 3.6 Bcfd, or less than half of exports in January. Exports continued to decline to 3.1 Bcfd in July.
Meanwhile, US LNG imports in the first half of 2020 averaged 0.2 Bcfd, relatively steady compared to imports in the corresponding period in 2019. Everett LNG terminal off Boston, Massachusetts received 56% of LNG imported in the period, primarily to meet winter space heating demand in New England. Elba Island terminal in Georgia and Cove Point terminal in Maryland also received several LNG cargoes during the January-June period.
EIA, in its September 2020 Short-Term Energy Outlook, forecast that US LNG exports will remain relatively low in September after Hurricane Laura caused power outages which may delay the restart of exports from the Cameron LNG terminal for several weeks. EIA said LNG would drive the growth in US total natural gas exports in the coming months. The agency also predicts that US LNG exports will regain its pre-pandemic levels by November 2020. For the upcoming winter, US LNG exports are expected to average more than 9 Bcfd.
