The US primary energy trade balance witnessed a significant shift in 2019, with exports surpassing imports for the first time, resulting in a positive net energy export. This net export achievement, amounting to 5.97 Quadrillion Btu (6.3 Exajoules) as of 2022, was primarily driven by liquified natural gas (LNG) exports. Last year the US overtook Qatar and Australia to become the world’s leading exporter of LNG for the very first time in industry history. To contextualize this achievement, 40% of the LNG imported by the European Union in 2023 originated from the US, and in the first 4 months of 2024, the US accounted for 54% of the LNG consumed by the EU, with Spain and France being the largest recipients within the bloc. The EU's pivot away from Russian LNG has presented opportunities for US LNG exports. However, the Biden Administration’s recent pause on exports from new LNG projects due to pressure from climate activists to reassess the impacts of LNG exports on energy costs, energy security, and the environment may impact overall export volumes in the medium to long term. In response, Qatar has unveiled an LNG expansion program to boost LNG production capacity by nearly 85% by 2030, elevating output to 142Mt/year, to fortify its position in the market.