The U.S.' liquefied natural gas (LNG) exports quadrupled in volume last year, compared to the previous year, the country's Energy Information Administration (EIA) announced on Tuesday.
LNG exports reached 1.94 billion cubic feet per day (bcf/d), or 54.9 million cubic meters per day in 2017 (mcm/d), up from 0.5 bcf/d, or 14.2 mcm/d in 2016, the EIA said.
All of the LNG exports from the U.S., which came from Cheniere Energy's Sabine Pass liquefaction terminal in the state of Louisiana, reached 25 different countries.
Last year, 53 percent of the U.S.' LNG exports were shipped to three countries -- Mexico, South Korea, and China, the EIA said. Mexico received the largest amount in 2017 with 20 percent, it added.
'Growing natural gas demand in Mexico, particularly from the power generation sector, and delays in the construction of domestic pipelines connecting to U.S. export pipelines led Mexico to rely on LNG imports to supplement imports of natural gas by pipeline,' the EIA said in a statement.
Exports to South Korea accounted for 18 percent of total U.S. LNG exports in 2017, while exports to China made up 15 percent of total U.S. LNG exports.
'In Asia, the widening difference between the Henry Hub natural gas price, to which U.S. LNG contract prices are indexed; and crude oil, to which LNG prices are benchmarked in Asia, helped to drive increases in LNG imports from the U.S.,' the statement said.
'These exports were sold mostly on a spot basis, with volumes in October, November, and December increasing as record-high LNG demand prompted China to seek additional LNG on the global spot market to supplement contracted volumes,' it added.
The EIA said almost 60 percent of the U.S.' LNG in 2017 was sold on a spot basis to more than 20 countries in Asia, North and South America, Europe, the Middle East, North Africa, and the Caribbean.
While the Sabine Pass in Louisiana and Cove Point in Maryland are the only LNG export facilities in the U.S., there are four LNG projects that are expected to become operational over the next two years.
Elba Island LNG in Georgia and Cameron LNG in Louisiana are estimated to come online in 2018. Freeport LNG and Corpus Christi LNG both in Texas are anticipated to be operational in 2019.
After these projects are completed, the U.S.' LNG export capacity is expected to reach 9.6 bcf/d, or 271.9 mcm/d by the end of 2019, the EIA said.
'As export capacity continues to increase, the U.S. is projected to become the third-largest LNG exporter in the world by 2020, surpassing Malaysia and remaining behind only Australia and Qatar,' it added.
By Ovunc Kutlu in New York
Anadolu Agency
energy@aa.com.tr