Advancements in hydraulic fracturing processes have made the United States the largest producer of natural gas in the world. 2016 was the first year that United States-sourced LNG was sold to consumers overseas. The company responsible, Cheniere Energy, has seen an incredible surge in sales volume since, with nearly 1,500 trillion British thermal units loaded in 2019. Together with two other U.S.-based oil supermajors, Cheniere Energy is among the leading publicly traded LNG suppliers worldwide. Although the market is still largely dominated by state-owned companies such as Qatargas, the world’s largest producer of LNG.
Following the outbreak of the novel coronavirus (COVID-19), economic implications for many industries are still unclear. This also leaves the future of terminal projects uncertain. One of the most expensive LNG projects in the planning stages is the three-train liquefaction plant in Nikiski, Alaska, with expected costs around 43 billion U.S. dollars.