U.S. LNG Exports Increase U.S. LNG exports hit the second-highest level in history thanks to increased demand from Europe ahead of the winter season, which pushed up LNG prices. Exports of liquefied natural gas to Europe rose by 1 million tons to 6.89 million tons in October, according to LSEG data. Exports to Asia remained almost unchanged, down slightly month-on-month to 2.73 million tons compared to 2.84 million tons in September. Europe has become the biggest buyer of US liquefied natural gas after much of Russian pipeline gas supplies were cut off, with EU restrictions on short-term Russian LNG contracts already in place. The EU is buying all available Russian LNG, and import volumes have already reached record levels this year. Fuel prices in Europe briefly exceeded €100/MWh at the end of last week and then again at the beginning of this week, and this time stayed above €100 for a little longer. This is the first time in four years that gas prices in Europe exceed 100 euros, and there is a possibility that they could rise to 150-180 euros per MWh. Qatar Energy extended its LNG export supremacy until December and turned to US-based Cheniere Energy.

U.S. LNG Exports Increase U.S. LNG exports hit the second-highest level in history thanks to increased demand from Europe ahead of the winter season, which pushed up LNG prices. Exports of liquefied natural gas to Europe rose by 1 million tons to 6.89 million tons in October, according to LSEG data. Exports to Asia remained almost unchanged, down slightly month-on-month to 2.73 million tons compared to 2.84 million tons in September. Europe has become the biggest buyer of US liquefied natural gas after much of Russian pipeline gas supplies were cut off, with EU restrictions on short-term Russian LNG contracts already in place. The EU is buying all available Russian LNG, and import volumes have already reached record levels this year. Fuel prices in Europe briefly exceeded €100/MWh at the end of last week and then again at the beginning of this week, and this time stayed above €100 for a little longer. This is the first time in four years that gas prices in Europe exceed 100 euros, and there is a possibility that they could rise to 150-180 euros per MWh. Qatar Energy extended its LNG export supremacy until December and turned to US-based Cheniere Energy.