A new report has confirmed that North America signed more long-term contracts for the export of liquefied natural gas (LNG) than any other continent in 2023, but President Joe Biden’s recently announced limits on such exports could shake things up in the future.
The contract figures come from data and analytics company GlobalData that says 21 LNG export deals were signed by North America across the 12-month period. Sixteen of the contracts were signed in the US, four in Mexico, and one in Canada.
Bhargavi Gandham, Oil and Gas Analyst at GlobalData, says that energy companies in North America are betting on strong long-term LNG demand due to the role of natural gas as a bridge fuel for the energy transition and decarbonisation.
Gandham also noted that the Russian-Ukraine war has further provided additional opportunity for these companies to sign contracts for LNG exports to Europe.
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