U.S. LNG and pipeline exports on track for record high
U.S. LNG and pipeline exports are on track to hit record peaks in April amid high prices in Europe and a steady decline in production in Mexico.
The amount of gas flowing to U.S. LNG export plants has averaged 11.5 bcfd so far in April, putting it on track to top March's monthly record of 11.2 bcfd, according to data provider Refinitiv.
U.S. pipeline exports to Mexico, meanwhile, averaged 6.1 bcfd so far in April, up from 5.9 bcfd in March and on track to surpass September's monthly record of 6.0 bcfd.
The U.S. Energy Information Administration (EIA) projected both LNG and pipeline exports would reach new all-time highs in 2021 and 2022.
U.S. pipeline exports have also hit all-time highs every year since 2015. EIA forecast pipeline exports would reach an annual average of 9.0 bcfd in 2021 and 9.2 bcfd in 2022, up from a record 7.9 bcfd in 2020.
The United States became a net exporter of gas via LNG and pipelines in 2017. Most pipeline gas goes to Mexico. The United States still imports more pipeline gas from Canada than it exports.
UPDATE 1-U.S. natgas output to rise, while demand falls for second year in 2021
Gas price rally buoys North American LNG developers looking to 2021
(Reporting by Scott DiSavino; Editing by Emelia Sithole-Matarise)
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