US LNG exports are on track for a record-breaking year as America consolidates its role as the world’s dominant gas superpower. Rapid growth in dry gas production, booming LNG shipments and unprecedented new project FIDs are reshaping the global LNG market heading into 2026.
The US gas industry is set to beat all records this year, further solidifying its status as the world’s gas superpower, writes Greg Molnar.
US dry gas production grew by 3% in the first ten months of 2025 compared to last year’s record levels. This strong growth is largely driven by the Permian, which alone accounted for around 45% of incremental gas output in the US.
This also means that associated gas now accounts for over 40% of US gas production — making it more sensitive to fluctuations in oil prices.
US LNG exports grew by a staggering 25% y-o-y in the first ten months of 2025, while feedgas flows surged to just over 500 mcm/d in early November. The US also became the first country in the world to export more than 10 Mt of LNG in a single month.
And US LNG flex was again at play: while deliveries to Asia dropped by nearly 40% y-o-y, US LNG shipments to Europe were up by 65% and played a critical role in filling the EU’s vast storage sites ahead of winter.
The US is also breaking records in terms of FIDs: more than 80 bcm/y of LNG capacity was sanctioned year-to-date — an all-time high for the US gas industry. This highlights the industry’s confidence in LNG demand growth and reflects the positive policy environment under the new administration.
The US will lead the next LNG wave, which will certainly transform the global gas market — making it more flexible, more liquid and more tradable.
What is your view? Could we see more US LNG FIDs this year? What is your take on the US upstream? And how will the US transform the global LNG market?
Source: Greg Molnár — via LinkedIn (posted with permission)
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