U.S. LNG exports: 10 years of global growthy

Ten years ago, on February 24, 2016, a cargo left the Sabine Pass terminal in Louisiana and quietly changed the global energy map. 

That shipment marked the real start of large-scale U.S. LNG exports in the shale era.

At the time, the United States was not seen as a major gas exporter. Today, it leads the world.

In 2016, exports averaged about 0.5 Bcf/d. By 2025, they reached roughly 15 Bcf/d. Forecasts point to more than 18 Bcf/d by 2027, according to EIA.

For platform workers, that means more vessels loading. 

For engineers, it means more trains, compression, storage, and pipeline optimization. For traders, it means liquidity and optionality.

The turning point came from shale. 

As natural gas production surged in the mid-2000s, import terminals built earlier were no longer needed. Instead of sitting idle, facilities like Sabine Pass were converted into export hubs. 

The first cargo of the shale export era sailed to Brazil. Since then, thousands of shipments have left U.S. shores.

Today, the country operates eight LNG export terminals. 

Capacity is expanding fast. New projects such as Corpus Christi Stage 3 and Plaquemines LNG have already added volumes, and Golden Pass is expected to begin shipping soon. 

By 2031, U.S. LNG export capacity could nearly double compared to 2025 levels.

Geopolitics accelerated the trend. 

Before 2022, Asia was the main destination. 

After Russia’s invasion of Ukraine, Europe urgently needed alternatives to pipeline gas. U.S. LNG filled that gap. In 2022, Europe absorbed close to 70% of U.S. volumes. 

Even in 2025, it remains the dominant market.

Why is U.S. LNG so competitive?

First, abundant natural gas supply keeps feed gas costs relatively low. 

Second, contracts are flexible. 

Unlike many traditional LNG deals linked to Brent crude with strict destination clauses, U.S. contracts are often indexed to Henry Hub and allow cargo redirection. 

Buyers can resell or reroute shipments based on market conditions.

Most cargoes are sold on a free-on-board (FOB) basis. 

The buyer pays a liquefaction fee plus feed gas costs, commonly estimated at about 115% of Henry Hub. 

In oil-indexed systems, LNG pricing often ranges around 12–13% of Brent. That difference frequently makes U.S. LNG more attractive.

Ten years after Sabine Pass, the story is clear: U.S. LNG exports are no longer an experiment. 

They are a pillar of global energy security, a driver of infrastructure investment, and a structural force in natural gas markets.

The next decade will not be about whether the U.S. exports LNG. It will be about how much more it can deliver.

U.S. LNG Exports: 10 Years of Global Growth