It’s no secret we run a trade deficit with China but, we may have found at least a partial solution with LNG. We’re an LNG exporter and they’re the market.
An article by Brian Wang on the website Next Big Future uses some interesting data from the Energy Information Administration (EIA) to make a fascinating point; China is on it way to being the world’s biggest market for LNG and the U.S. is headed toward being the No. 2 global exporter of the stuff. That sounds a lot like an opportunity to reduce our trade deficit with China, doesn’t it?
The EIA data shows we’re already more of a supplier than a consumer of gas on the world stage:
The United States was a net exporter of natural gas in the first quarter of 2018, with net exports averaging 0.5 Bcf/d. Rising LNG exports and pipeline exports have contributed to a shift from the United States being a net importer of natural gas as recently as the first quarter of 2017.