US LNG exports surge in July
Exports of US LNG jumped to 9.1 million tonnes (mt) in July, marking a sharp increase from June as some plants exited maintenance activities and Venture Global's Plaquemines facility ramped up production, preliminary data from financial firm LSEG showed.
The US is the world's largest exporter of LNG and July's output was its third highest on record. This year the US has seen three of its highest ever monthly LNG production figures, according to LSEG data.
US LNG shipments could have been higher had its third- largest export facility, Freeport LNG, not experienced several unplanned outages, reporting seven power outages at its plants to the Texas Commission on Environmental Quality during the month of July. Its output fell in July to 1.3 mt from 1.4 mt in June, LSEG data showed.
The US could double its LNG export capacity by 2030, based on projects already under construction and expected to get the financial greenlight as the industry builds momentum following US President Donald's Trump's vow to bolster the country's energy industry. This week Venture Global gave a positive final investment decision for its massive 28 million mtpa CP2 facility in Louisiana.
In July, Plaquemines, also in Louisiana, exported 1.4 mt of LNG, compared to 1.2 mt in June, helping the US get to 9.1 mt in July, compared to 8.4 mt in June, LSEG data showed.
Gas prices fall in Europe and Asia
European gas prices fell in July to $11.56 per million British thermal unit (mmBtu) from $12.38 per mmBtu in June at the European benchmark Title Transfer Facility in the Netherlands, according to LSEG data.
Even so, the softer prices were not enough to deter US LNG exports to Europe, which remained the favored destination. Some 5.25 mt of LNG, or just under 58 per cent of July's total, headed to Europe during July, slightly lower than the 5.53 mt, or 66 per cent, sold in June, LSEG data showed.
US exports to Europe could increase in the coming years following a trade deal earlier this week in which the European Union promised to buy $750 billion of US energy over a five-year period.
In July, gas prices were also lower in Asia, as the benchmark Japan Korea Marker fell to $12.18 per mmBtu from $12.90 per mmBtu in June.
Exports to Asia rose slightly during the month to 1.8 mt, or 20 per cent, of US LNG exports in July, compared to 1.56 mt, or 19 per cent, in June as demand for energy for cooling grew, according to LSEG data.
"After lackluster Asian LNG demand for much of 2025 so far, hotter July weather drove some improvement," bankers from Morgan Stanley told its clients in a report on Wednesday.
US sells more LNG closer to home
US LNG exports to South America grew in July as the continent faced colder-than-normal seasonal weather. The US sold 1.03 mt, or 11 per cent of its total LNG exports, to Latin America, with cargoes going to Brazil, Argentina, Colombia and Chile. Cargoes were also sold to several Caribbean countries, including Jamaica, Puerto Rico and the Dominican Republic.
Egypt continued to import US LNG cargoes, buying eight in July, totaling 0.59 mt. There were also six cargoes with 0.43 mt of LNG that left US ports in July with no clear destination, signaling they were available for orders.
In July, Canada saw its first LNG shipment from a major plant, with the start-up of LNG Canada in Kitimat, British Columbia. That facility is the first North American plant with direct access to the Pacific Ocean and a shorter sail time to Asia.
LNG Canada exported four cargoes, or 0.29 mt of LNG, during July, according to LSEG ship tracking data.
(Reporting by Curtis Williams in Houston; Editing by Liz Hampton and Andrea Ricci)
