The LNG imports prices of United States of America attained a value of 223.96 USD/Tonnes in 2020
The indicator recorded a historical growth (CAGR) of 0.17% between 2017 and 2020
The LNG imports prices in the US declined in 2020
Following strong growth in 2019, the US gas utilities industry has experienced consecutive years of value decline with industry revenues in 2020. This is expected to continue into 2021 with growth expected to return in the remaining forecast period.
The US has the largest gas-fired power plant fleet in the world. In 2020 the country’s capacity continued to expand with several new gas-powered power plants added during the year; with California, New York and Louisiana accounting for almost mid-double digit of the newly commissioned capacity. Natural gas used to generate electric power in the US reached a record high in 2020 more than the 2019 average. Natural gas accounted for mid-double digit of all power generation in 2020, accounting for more generation than coal and nuclear, the next two largest sources, combined.
Growth has also been encouraged by the construction of new pipelines, such as the Sabal Trail Pipeline through Alabama, Georgia and Florida by Sabal Trail Transmission, for the transmission of natural gas. The Sabal Trail is capable of transporting over one billion cubic feet per day, enough natural gas to serve local distribution companies, industrial users and natural gas-fired power generators in the South-East region. The industry has also benefited from the increasing scrutiny on coal-fired power plants due to the regulatory environment. This has resulted in the increased consumption of natural gas, which is generally considered as the fuel of choice to replace coal.
Lower demand for gas also caused prices for the commodity to drop in 2020, which meant lower revenue for market players. Mild spring weather and responses to COVID-19 caused the Henry Hub price average to drop in June, the lowest monthly price in decades. Prices increased in the second half of the year because of lower natural gas production and an increase in liquefied natural gas (LNG) exports.
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