U.S. Soars to Top LNG Exporter in 8 Years Amid Fracking Boom, Mainly Fueling Europe Demand

U.S. has become world's top liquefied natural gas exporter in just 8 years due to fracking boom unlocking huge domestic shale gas reserves
Exports initially rose to meet demand abroad as prices spiked overseas, especially after Fukushima disaster reduced nuclear capacity
Europe is currently the top destination for U.S. liquefied natural gas exports and relies heavily on it after cutting Russian gas imports
Future growth markets are expected to be Asian countries like China and India using gas for electricity and heating
Biden administration has paused permits for new export facilities to study climate impacts, but capacity is still set to nearly double by 2027 even without new projects