U.S. LNG exports soar in 2019 but supply glut may await in 2020

(Reuters) – U.S. exporters of liquefied natural gas (LNG) head into 2020 after a record year that saw exports soar by more than 60%, but growing concerns about weakened demand and heavy competition could act as headwinds in the coming year.

A warning sign at the perimeter of a transfer line area is seen at the Dominion Cove Point Liquefied Natural Gas (LNG) terminal in Lusby, Maryland March 18, 2014. A storage tank is at right rear. REUTERS/Gary Cameron (UNITED STATES)

Four new liquefaction trains – the common term for a shipping facility – entered service this year in the United States. The U.S. is on track to become the biggest global LNG exporter by 2024.

LNG is seen as an alternative for Asian countries that have relied on coal-fired power plants. LNG exports have surged in recent years out of Qatar, Australia, and the United States, the three biggest exporters

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