FILE PHOTO: Liquified natural gas vessel Kmarin Diamond, the LNG tanker in eight months to arrive at Freeport LNG fire-idled export plant, is seen at the facility in Freeport, Texas, U.S., February 11, 2023. REUTERS/Arathy Somasekhar/File Photo
North America’s liquefied natural gas (LNG) export capacity is projected to more than double between 2024 and 2028, contingent on the timely completion of projects currently under construction.
The latest analysis from the U.S. Energy Information Administration shows U.S. LNG export capacity rising from 11.4 billion cubic feet per day (Bcf/d) in 2023 to 24.4 Bcf/d in 2028, due to new LNG export terminals in Mexico and Canada, as well as additional capacity in the United States.
The significant expansion in North American LNG export capacity reflects the region’s growing role in the global natural gas market and its potential to meet increasing international demand for cleaner energy sources.
By the end of 2028, LNG export capacity is expected to increase by 0.8 Bcf/d in Mexico, 2.5 Bcf/d in Canada, and 9.7 Bcf/d in the United States, with a total of 10 new projects under construction across the three countries.
In Mexico, two projects are currently being constructed with a combined LNG export capacity of 0.6 Bcf/d. The Fast LNG Altamira project, located offshore on Mexico’s east coast, has already shipped its first LNG cargo in August 2024. New Fortress Energy Inc. (NFE), the project’s developer, recently received authorization from the U.S. Department of Energy to export LNG to non-Free Trade Agreement countries for a five-year term.
Wes Edens, Chairman and CEO of New Fortress Energy, stated, “This important authorization cements NFE’s position as a leading global vertically integrated gas to power company and enhances the marketability of our FLNG 1 asset. NFE is now able to freely supply cheaper and cleaner natural gas to underserved markets across the world and further our goal of accelerating the world’s energy transition.”
In Canada, three LNG export projects with a combined capacity of 2.5 Bcf/d are under construction in British Columbia. These include LNG Canada, Woodfibre LNG, and Cedar LNG, with expected start dates ranging from 2025 to 2028.
The United States is constructing five LNG export projects with a combined export capacity of 9.7 Bcf/d. The projects include Plaquemines, Corpus Christi Stage III, Golden Pass, Rio Grande, and Port Arthur. The first LNG cargoes from Plaquemines LNG and Corpus Christi LNG Stage III are expected to be shipped by the end of 2024.
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