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← Economic Fallout

U.S. LNG Exports Surge 23% in First Half of 2026 on New Terminal Capacity

Confirmed1 source · Sep 1, 2026

U.S. liquefied natural gas exports reached 17.4 Bcf/d in H1 2026, driven by completion of new export terminals and elevated global prices following supply disruptions.

What happened

U.S. LNG exports averaged 17.4 billion cubic feet per day in the first half of 2026, up 23% from the same period in 2025. The increase was driven by new capacity from Plaquemines LNG operating at full capacity, Corpus Christi Stage 3 exporting from six of seven trains, and Golden Pass LNG's startup in April 2026. Plaquemines LNG and Corpus Christi Stage 3 will collectively increase nominal U.S. export capacity by 4.0 Bcf/d when complete, while Golden Pass LNG Train 1 adds another 0.7 Bcf/d of nominal export capacity. The EIA projects U.S. LNG exports will average 17.3 Bcf/d in H2 2026 and rise to 18.7 Bcf/d in H1 2027. Global LNG prices remained elevated throughout the period: the European TTF benchmark averaged $14.74/MMBtu in H1 2026 versus $13.10 in H1 2025, and the Japan-Korea Marker reached $15.56/MMBtu, both four-year highs outside the 2022 Ukraine crisis spike.

Context

A March disruption to LNG shipments through the Strait of Hormuz cut off 20% of global supplies, mostly from Qatar, forcing Asian buyers dependent on Qatari imports to compete for spot cargoes and driving prices higher. This supply tightness incentivized U.S. producers to maximize output and shifted export patterns: shipments to Asia roughly doubled, rising 108% from H1 2025, while European exports edged up 1%. Egypt, the Netherlands, Italy, France, and the United Kingdom were the top destination countries. The rapid capacity additions represent the fastest export growth since the U.S. began large-scale LNG exports in 2016, indicating structural expansion of U.S. export infrastructure and its role in global energy markets.