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    UH Real Estate Investment Trust to distribute N5.05 per unit to unit holders

    Canceling Keystone XL pipeline cost thousands of jobs, billions of dollars – Biden Administration

    Breaking: President Joe Biden diagnosed with “aggressive” cancer

    Mexican Navy Ship crashes into New York Bridge

    Mexican Navy Ship crashes into New York Bridge

    Pope Leo XIV holds inaugural mass, sets tone for his papacy

    Pope Leo XIV holds inaugural mass, sets tone for his papacy

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    Federal Government Launches Online Citizenship and Business Management Platform

    Sunny Anene raises his stake in United Capital Plc

    Tantalizers PLC acquires Grand Media Projects Limited

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    Finland charges Simon Ekpa with inciting terrorism

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    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

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    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

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    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    NGX Daily Equities Market Report: Market gains for third consecutive days

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    Bitcoin crosses US$60K, approaches All-Time High

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    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

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United States becomes world’s largest exporter of LNG

Wednesday, 4 January 2023, 11:25 am
in Business, Industry
0
Switching to ruble payments for Russian gas will take time – Kremlim
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The United States of America has become the world’s largest exporter of Liquefied Natural Gas (LNG) alongside Qatar. Bloomberg in a report on Tuesday stated that both countries exported 81.2 million tons of LNG in 2022.

Also read; US$1 Trillion needed to reconstruct Ukraine -President Zelensky

The U.S had increased its LNG shipments abroad significantly in the preceding year, and would have topped Qatar were it not for a fire incident that shut down the Freeport LNG facility in mid-2022, and kept it shutdown through the remainder of the year.

Rystad Energy at the end of 2022, reported that Freeport LNG would have taken total U.S LNG exports to 86 million tons.

In 2023, however, when Freeport LNG restarts, the United States could see an 11-percent increase in LNG exports, Rystad Energy said last year, which would make it officially the largest LNG exporter globally, surpassing Qatar.

The United States only joined the LNG export scene in 2016 amid an abundance of shale gas and growing demand for gas globally. Asia used to be the top destination for U.S. cargos until last year when Europe suddenly emerged as a major importer amid Russia’s gas supply cuts and the EU’s determination to switch its gas dependence on Russia with one on the United States.

Amidst the growing demand for LNG globally, Qatar is working to boost its annual export capacity to over 100 million cubic meters.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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