Half of America’s Gas Exports Claimed by Asia in Next 3 Years
- Most U.S. gas exports have gone to Latin America so far
- Panama Canal expansion stands to benefit Asian buyers: BNEF
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More than half of the liquefied natural gas leaving the U.S. over the next three years is contracted by Asian buyers, signaling a potential shift in a market that has been dominated by Latin America since shale exports began in February.
The U.S. is slated to bring online 42.9 million tons a year of LNG export capacity in the next three years, with 52 percent contracted to utilities and national oil and gas companies in Japan, South Korea, India, Taiwan and Singapore, a Bloomberg New Energy Finance analysis shows. A recent expansion of the Panama Canal that opened up the locks to massive tankers carrying the fuel may prompt the first cargoes bound for Asia, according to the report.