Global LNG trading volume hit another record last year

Trading volumes on the global market for liquefied natural gas (LNG) have grown steadily in recent years, with the exception of 2020, and last year was no exception. Growth was driven both by the commissioning of new export terminals and stronger demand from European traders, who had to find replacements for supplies of natural gas from Russia.

In 2022, an average of 51.7 billion cubic feet of gas per day was traded on the global LNG market, according to data from Cedigaz, cited by the U.S. Energy Information Administration (EIA). For the year as a whole, this amounted to around 534 billion cubic meters, 5% more than in 2021, according to the EIA.

On the supply side, further increases in export capacity in the United States contributed to growth in particular. According to the EIA, U.S. LNG exports reached around 105 billion cubic meters last year, 16% more than in 2021. This was also the largest year-on-year increase among all major liquefied natural gas exporters.