US LNG exports to Latin America surge in 2024

US LNG exports to Latin America and the Caribbean grew around 40% in 2024 compared to the previous year, S&P Global Commodity Insights data showed Jan. 7.

The US exported around 426 Bcf of LNG to the region in 2024, up from the 303.18 Bcf exported in 2023. The previous highest annual level for US LNG exports to Latin America was 631.52 Bcf in 2021.

August saw the highest monthly level for US exports to Latin America, with 50.34 Bcf, while exports hit a low in December, totaling 21.22 Bcf.

Brazil was the primary destination for US LNG exports, with 110.24 Bcf, up 176% from nearly 39.92 Bcf in the previous year. The highest level of US exports to Brazil was in September, when around 22.86 Bcf were exported to the South American country. The second-highest level was in August, with 17.53 Bcf, while the lowest level was in April, when only 1.60 Bcf of US LNG were exported. Brazil was a destination for US LNG exports almost every month in 2024, except for March.

The second-largest volume of US LNG exports went to the Dominican Republic, totaling nearly 109 Bcf, a 36% increase from the nearly 80 Bcf exported in 2023. December marked the 25th consecutive month that the US has shipped LNG to the Dominican Republic, a streak unmatched by any of the other Latin America export destinations.

The US also exported nearly 68 Bcf of LNG to Colombia, up around 88.5% from the nearly 36 Bcf exported the previous year. The highest level of US exports to Colombia was in September, with 13.08 Bcf, while the lowest was in June, with 1.19 Bcf.

The fourth-largest volume went to Chile, with 50.58 Bcf, up from 31.60 Bcf in the previous year.

Other destinations for US LNG exports in Latin America in 2024 included Argentina (50.48 Bcf), Panama (20.18 Bcf), Jamaica (9.37 Bcf), Mexico (7.63 Bcf), and El Salvador (840 MMcf).

Only the Dominican Republic and Colombia were consistent destinations in the region for US LNG exports every month last year.

In 2024, LNG volumes exported from the US to terminals in Latin America and the Caribbean totaled 168 cargoes, up from 130 in 2023. Only one of the cargoes exported in 2024 remains to be delivered: the Energos Celsius, which is expected to unload in Colombia on Jan. 10, S&P Global Commodities at Sea data showed.

The Sabine Pass facility in Louisiana supplied 50 of the cargoes exported from the US to Latin America last year, while another 41 were sourced from Freeport LNG in Texas. Cameron LNG, Calcasieu Pass, and Corpus Christi contributed 26, 24, and 21 cargoes, respectively. Cove Point supplied four cargoes, while the remaining two were sourced from Elba Island.

The Platts Gulf Coast Marker for US FOB cargoes loading 30- to 60-days forward was assessed at $13.76/MMBtu on Jan. 7, up 13 cents day on day.

Platts is part of S&P Global Commodity Insights.