LONDON, October 3. /TASS/. The rapid expansion of liquefied natural gas (LNG) exports from the United States could overload the global energy market and drive down prices, the Financial Times reported.
According to the publication, Washington approved the launch of three new LNG terminals in just the past month, with another five scheduled to come online by the end of the year. This will enable the United States to more than double its LNG exports by the conclusion of Donald Trump’s second presidential term.
Executives at major energy conglomerates have expressed skepticism about the economic viability of US actions. Wael Sawan, CEO of Shell, described the construction of new terminals as economically unjustified, noting that he was surprised by the sheer number of projects given the green light. TotalEnergies CEO Patrick Pouyanne questioned whether there are even global markets that could absorb such an oversupply of American gas.
In February, the Trump administration granted the first LNG export license to Commonwealth LNG, a company based in Louisiana, following the lifting of a moratorium imposed by former US President Joe Biden in January 2023. Biden had justified the pause by citing the climate crisis, while Republicans criticized that approach. At the same time, Trump opened 2.5 mln sq km of offshore waters for oil and gas exploration, reversing restrictions previously imposed by the Biden administration.