EPRINC briefing
US LNG Exports and Asian Gas Markets
64 publications
Briefing summary
U.S. LNG export capacity in operation reached 18 BCF/d as of December 2025, with another 15 BCF/d under construction; Asian markets remain exposed to supply disruptions such as a Strait of Hormuz closure, which would remove roughly 10.6 BCF/d of Qatari LNG.
Is exporting North American gas as LNG in the public interest?
TestimonyComments Submitted to DOE Regarding NERA’s LNG Export StudyThe NERA conclusions are consistent with our own research on the economic benefits of a wide range of project opportunities now emerging as a direct…Jan 2013ChartNatural Gas Exports Surpass Soybeans in Importance for Reducing U.S. Trade DeficitBeginning in 2021, the net value of U.S. natural gas exports reached $30 billion, exceeding soybean exports by $3 billion, and has since ranged…Chart 2026-18Op-EdMax Pyziur Pens Op-Ed for The National Interest on Mozambique LNGEPRINC’s Max Pyziur examines Mozambique LNG in an op-ed for The National Interest. Readers can find the full piece at The National Interest.Jul 2025ChartLNG (Liquefied Natural Gas) Trade Lowers U.S. Trade Deficit – RevisitedU.S. LNG exports, launched at scale in 2016, have grown into a persistent contributor to the nation's trade balance, with a monthly LNG trade…Chart 2025-21ChartContention for U.S. Natural Gas Resources in Three New England StatesIn Massachusetts, Connecticut, and Rhode Island, natural gas heats 47% of the 4.7 million households while also supplying an average 56% of the…Chart 2024-37ChartUnintended Consequences Of Curtailments Of USNatural Gas ProductionBecause roughly 14% of U.S. natural gas is produced as associated gas alongside crude oil, curtailing gas output would ripple across crude oil and…Chart 2024-03ChartNatural Gas Trade Lowers U.S. Trade Deficit – RevisedU.S. natural gas trade shifted from a deficit to a growing surplus over the past decade, with monthly net exports peaking at $4.95 billion in August…Chart 2023-45ChartLNG (Liquefied Natural Gas) Trade Lowers U.S. Trade DeficitU.S. LNG exports, which began in 2016, have grown to become a measurable offset to the national trade deficit, with the monthly LNG trade surplus…Chart 2023-37EventGlobal Gas Centre and EPRINC Co-Host Virtual Workshop “Future of North American Natural Gas In A Carbon-Constrained WorldThe Energy Policy Research Foundation and the Global Gas Centre have jointly hosted a webinar on the “Future of North American Natural Gas In A…Jun 2021EventEPRINC Hosts Workshop on the Scale and Scope of the North American Natural Gas Production PlatformOn April 19, 2018, the Energy Policy Research Foundation Inc. held a workshop at the Willard Hotel on the on the scale and prospective growth of the…Jun 2018Op-EdBreaking Energy Op-Ed: The U.S. Government Should Support Natural Gas Exports by Lou PugliaresiEPRINC’s Lou Pugliaresi argues in an op-ed that the U.S. government should support natural gas exports. Read the full piece at…Apr 2016Op-EdDon’t let protectionism strangle America’s energy renaissanceAt issue is a 1938 law that grants the federal government broad powers over international trade of natural gas. The U.S. Department of Energy (DOE)…Dec 2013Op-EdWSJ Opinion: The Lessons of the Shale Gas RevolutionOpinion September 30, 2011 The Lessons of the Shale Gas Revolution North American oil production can double by 2035. By LUCIAN PUGLIARESI Where can…Oct 2011
How is DOE export-license policy shaping supply?
ChartU.S. LNG Export Capacity: Operating and Under ConstructionU.S. export capacity context as global LNG markets scramble for alternatives.Chart 2026-08ChartMozambique LNG and the Role of The U.S. Export-Import BankThe Mozambique LNG project, a $20 billion-plus onshore export facility, awaits its largest single source of financing—$4.7 billion from the U.S.…Chart 2025-08ChartImpacts of the U.S. 2024 Presidential Election on Petroleum and Natural Gas EquitiesSince the 2024 U.S. Presidential Election, crude oil and natural gas prices have diverged, with natural gas equities rising on expectations that the…Chart 2025-03Op-EdLucian Pugliaresi Co-Authors RealClear Energy Article “Streamline the Regulatory Process to Expedite U.S. LNG Exports”Lucian Pugliaresi co-authored an article titled “Streamline the Regulatory Process to Expedite U.S. LNG Exports,” addressing the…Oct 2023ChartComparing Freeport LNG Contribution Expected U.S. LNG Capacity: Then (2017) and Now (2022)Comparing 2017 projections to current ones, U.S. LNG liquefaction capacity is expected to reach 128.2 MTPa, or 17 BCF/d, by late 2025.Chart 2022-18CommentaryNatural Gas Industry Fakes the Moon LandingThe NYT’s reporter relied extensively on anecdotal evidence and commentary on developments in the natural gas industry from both industry and…Jul 2011
What is the outlook for Asian LNG demand and terminal capacity?
Report“Fueling the Dragon: Understanding China’s Natural Gas and LNG Demand” by Battulga OdgerelChina has emerged as a key player in the global natural gas market in the past decade, surpassing Japan as the top natural gas importer and the…May 2022ReportIEEJ and EPRINC Release 2018 Assessment on the Future of Asian LNGThe Institute of Energy Economics Japan (IEEJ) and EPRINC have published a follow-on assessment to their 2017 joint report on the future role of…Oct 2018ReportInstitute of Energy Economics Japan (IEEJ) and EPRINC collaborate on Assessment on the Future of Asian LNGThe two organizations have reached out to a wide range of experts, government officials, and market participants through a series of workshops. The…Oct 2017ReportProspects for LNG Exports from North AmericaA presentation by Lou Pugliaresi at the JOGMEC Petroleum Seminar on February 7, 2013.Feb 2013EventERIA and IEEJ CoHost Webinar with the Energy Policy Research Foundation on The Role of LNG and Natural Gas Toward and Beyond the Energy Transition in AsiaOn Tuesday, May 23 2025 (DC time), the Economic Research Institute for ASEAN and East Asia (ERIA), the Institute of Energy Economics, Japan (IEEJ)…May 2025CommentaryGlobal LNG Terminal Capacity MapWe’re excited to present to you our latest video on global LNG terminal capacity. The animation delves into the significance of LNG for…Apr 2024ChartWestern European Near-Term Natural Gas RequirementsWestern European natural gas consumption typically peaks near 55 BCF/d in January, but mild winter weather and efficiency measures held the January…Chart 2023-17ChartLiquefied Natural Gas (LNG) Demand Shift and Diversions from China to EuropeAs European demand for liquefied natural gas rose, cargoes originally destined for China were diverted to European markets.Chart 2022-43ChartEuropean LNG Import Volumes and CapacityEuropean LNG import volumes remain below available regasification capacity, indicating that existing infrastructure provides room for additional…Chart 2022-09EventIEEJ and EPRINC CoHost a Webinar “LNG: Addressing the Near-Term Energy Crisis and Long-Term Environmental Challenges”On February 25 2022 at 8:30am–11:00am (Tokyo Time – JST) / February 24 6:30pm–9:00pm (Washington Time – EST), IEEJ and EPRINC cohosted a…Feb 2022ChartChina Surpasses Japan in LNG ImportsFor the first ten months of 2021, China imported 64.5 million metric tons of LNG against Japan's 61.4 million metric tons, putting China on track to…Chart 2022-01ChartWith High LNG Benchmark Prices, Some Asian Electricity Producers Are Considering Alternative FuelsElevated LNG benchmark prices are prompting some Asian electricity producers to evaluate alternative fuels for power generation.Chart 28EventIEEJ and EPRINC Co-Host Virtual Workshop: The Role Of LNG In A Carbon-Constrained MarketThe Institute of Energy Economics Japan (IEEJ) and the Energy Policy Research Foundation, Inc. (EPRINC) jointly hosted a virtual workshop, “The Role…Dec 2020EventCoal in the Asian Power Market IEEJ/EPRINC Virtual WorkshopThe Institute of Energy Economics Japan (IEEJ) and the Energy Policy Research Foundation, Inc. (EPRINC) have jointly hosted a virtual workshop,…Nov 2020EventEPRINC and IEEJ CoHost Virtual Workshop “Future of Asian LNG: Finding a Path Forward”The Institute of Energy Economics Japan (IEEJ) and the Energy Policy Research Foundation, Inc. (EPRINC) have jointly hosted a virtual workshop,…Sep 2020EventEPRINC and IEEJ Co-Host Third US – Japan LNG WorkshopIEEJ and EPRINC are in the third year of a joint assessment of the future role of LNG in Asian power and fuel markets. The effort has been supported…Aug 2019CommentaryIEEJ and EPRINC Commentary on the Future of Asian LNGThis 2018 publication predates EPRINC’s current website, and the original document is no longer available in the archive. For EPRINC’s…Oct 2018EventEPRINC and IEEJ Host Workshop: “Future of Asian LNG Part Two, The Road to Nagoya”EPRINC and IEEJ hosted a workshop titled “Future of Asian LNG Part Two, The Road to Nagoya.”Sep 2018EventLucian Pugliaresi Delivers LNG Briefing at the Embassy of PanamaOn August 2, Lucian Pugliaresi met with officials at the Embassy of Panama to present on the developments of the LNG industry. A link to the…Aug 2018PressEPRINC Senior Research Analyst Batt Odgerel Quoted in Bloomberg’s Kari Soo Lindberg and Stephen Stapczynski’s Article “Xi Aligns With Putin Against US, But Hesitates on Gas Deal.”While that pipeline could supply China with a cheaper alternative to liquefied natural gas, Xi’s government remains focused on securing diversity of…Mar 2023AnnouncementEPRINC and the Institute of Energy Economics Japan (IEEJ) Initiate Joint Research Program on the “Future of Asian LNG.”EPRINC and IEEJ established a joint research program to evaluate the “Future of Asian LNG Demand.” The effort was initiated with a joint workshop of…Aug 2017
How do US exports affect global gas security and pricing?
ChartNatural Gas Inventories in the Northern Latitudes: A Mid-Year ReviewRecent harsh winters across the northern latitudes have elevated reliance on natural gas for seasonal power and heating in both the U.S. and Europe.…Chart 2026-23ChartStrait of Hormuz Closure: Qatari LNG Curtailment and the Global Gas MarketEarlier chart on the halt of Qatari LNG exports, with nearly 20% of global LNG supply curtailed as force majeure declarations cascade through Qatar's customer base.Chart 2026-11Chart3SI Dependence on Russian Natural Gas is being mitigated by U.S. LNGThough several Three Seas Initiative countries—Bulgaria most notably—still import about 1.5 BCF/d of natural gas from Russia, growing U.S. LNG…Chart 2025-42ChartU.S. LNG Exports and European Natural Gas Imports — Note the ComplementaritySince 2019, U.S. LNG exports have surged from 4.5 BCF/d to 11.7 BCF/d, and the share flowing to Europe has climbed from 40% to 81%, filling the gap…Chart 2025-35ChartEuropean and U.S. Natural Gas Storage at the End of Winter 2024-2025A colder winter in 2024-2025, particularly during February, drove combined U.S. and EU natural gas storage drawdowns to 4.3 trillion cubic feet, up…Chart 2025-09EventIEEJ and EPRINC Cohost Workshop on “U.S. LNG After the Pause: Can the US Still Deliver Affordable Natural Gas to Asia?”On January 7, 2025, the Institute for Energy Economics Japan and the Energy Policy Research Foundation, cohosted a workshop called U.S. LNG After…Jan 2025ChartU.S. LNG Exports by Destination Region RevisitedThe destination mix for U.S. LNG exports shifted sharply after 2021, with Europe overtaking Asia as the leading buyer amid Russia's curtailment of…Chart 2024-41ChartU.S. LNG RevisitedReviewing 20 years of data, EPRINC finds the United States has exported 352 million metric tons of LNG to 49 countries, with these exports proving…Chart 2024-06ChartEuropean Receipts of U.S. LNG Exports by Destination – RevisitedAs Russia curtailed pipeline gas to Europe—cutting flows from a 2019 peak of 15 BCF/d to under 1 BCF/d by the summer of 2022—Europe ramped up…Chart 2023-42ChartOn the Anniversary of Russia’s EscalationOne year after Russia's escalation of its war against Ukraine, LNG became Europe's primary source of natural gas over the course of 2022, and…Chart 2023-09EventEPRINC and IEEJ CoHost DC Workshop: “Global LNG, Energy Security, and the Transition”The Institute of Energy Economics Japan (IEEJ) in Tokyo and the Energy Policy Research Foundation, Inc. (EPRINC) in Washington DC have hosted an…Dec 2022ChartNatural Gas Storage Ahead of Winter in the Northern LatitudesNatural gas storage operators across the northern latitudes have moved aggressively to refill inventories ahead of the 2022-2023 winter, but at…Chart 2022-29ChartEurope – Recently Reported Monthly Natural Gas ReceiptsEuropean natural gas supply patterns reflect two trends that preceded Russia's February 2022 escalation of military aggression against Ukraine: a…Chart 2022-26ChartU.S. LNG Exports: Recent TrendsWith the winter 2021–2022 shortfall in natural gas supplies from Russia, Europe accelerated purchases of U.S. LNG at a rate of 8 BCF/d in the first…Chart 2022-21ChartHigh-Level Analysis of the Contribution of US Shale Gas to European Gas Prices and SavingsEPRINC estimates that the contribution of US shale gas to European gas prices has resulted in a total savings for European natural gas consumers of…Chart 31ChartNatural Gas Prices are Signaling Tight Energy Markets Ahead of WinterRegional natural gas benchmarks have risen considerably in 2021, signaling concern about tight energy markets ahead of the winter heating season.Chart 27ChartLNG Suez Canal Traffic in PerspectiveWhile Europe-bound Qatari LNG cargoes have subsided, LNG traffic through the Suez Canal continues to represent a substantial percentage of total LNG…Chart 6EventEPRINC Embassy Series: LNG Exports from North AmericaThe event agenda and presentations (pdf) can be accessed below: Agenda: LNG Exports from North America – January 29, 2013 – Embassy of the Russian…Jan 2013AnnouncementEPRINC Joins Group of Thought Leaders In Writing to Japan’s Prime Minister About Natural Gas and Its Importance to Energy SecurityOn Tuesday, March 7, 2023, concurrent with CERAWeek in Houston, the leadership of several prominent energy trade associations and think-tanks…Mar 2023AnnouncementLNG Allies, EPRINC, AXPC, and the EEIA offer five suggestions that the Biden Administration can utilize to bolster U.S. and European Energy Security in the near termToday on February 25, 2022, LNG Allies was joined by the Energy Policy Research Foundation, American Exploration and Production Council, and the…Feb 2022
Further research
EventLucian Pugliaresi Presents at the London Campus of ESCPOn January 29, 2018 Lucian Pugliaresi gave a presentation at the Research Center for Energy Management at the London Campus of ESCP, Europe’s…Feb 2018EventEPRINC’s Lucian Pugliaresi Presents in FrankfurtIn December, EPRINC chaired the US Energy Stream’s “5th Frankfurt Gas Forum 2017” in the Schlosshotel Kronberg in Frankfurt, Germany. At the Forum,…Dec 2017EventEPRINC’s Lucian Pugliaresi and IEEJ’s Masakazu Toyoda Present Joint Findings in TokyoEPRINC’s president Lucian Pugliaresi, along with IEEJ Chairman and CEO Masakazu Toyoda, summarized the main findings of the Joint EPRINC IEEJ study…Dec 2017AnnouncementEPRINC Welcomes Ash Shastri as a Distinguished FellowEPRINC is pleased to announce that Ash Shastri has joined us as a Distinguished Fellow. Ash brings a wealth of experience on global natural gas…Feb 2018