美國LNG出口在3月份飆升至歷史新高！

（來源：海運經紀）

2026年3月，美國液化天然氣（LNG）出口量創下1170萬噸的歷史新高，主要受全球恐慌性搶購和中東地緣政治緊張局勢引發的供應中斷所推動。3月份，卡塔爾拉斯拉凡工業城遭到導彈和無人機襲擊，關鍵基礎設施受損，導致大規模停運，使美國成為至關重要的天然氣供應樞紐。

與2025年3月相比，路易斯安那州的LNG處理能力在2026年3月增加了約180萬噸，目前路易斯安那州處理着美國約61%的LNG出口量。歐洲仍然是最大的出口目的地，約佔美國超低温天然氣出口總量的64%，即749萬噸。

國際天然氣價格較美國亨利樞紐價格的大幅溢價也刺激了出口活動的增加，歐洲TTF和亞洲LNG基準價格的交易價格遠高於美國亨利樞紐價格，后者徘徊在每百萬英熱單位3美元左右。儘管由於產量強勁，亨利樞紐價格相對穩定，但高企的國際價格（TTF、JKM）確保了美國出口終端的充分利用，這些終端幾乎滿負荷運轉。

U.S. liquefied natural gas (LNG) exports hit a record 11.7 million metric tons in March 2026, mainly driven by global panic buying and supply disruptions triggered by geopolitical tensions in the Middle East. Missile and drone attacks on Qatar's Ras Laffan Industrial City in March damaged critical infrastructure, forcing major outages and positioning the U.S. as a vital swing producer. LNG facilities in Louisiana handled roughly 1.8 million more metric tons in March 2026 compared to March 2025, with Louisiana currently handling ~61% of all U.S. LNG shipments. Europe remained the top destination, accounting for approximately 7.49 million tons, or 64%, of total U.S. exports of super-chilled gas. A substantial premium for international gas prices over the U.S. Henry Hub price also incentivized increased export activities, with European TTF and Asian LNG benchmarks trading at a massive premium to U.S. Henry Hub prices, which hovered around $3 per MMBtu. While Henry Hub prices were relatively stable due to strong production, the high international prices (TTF, JKM) ensured maximum utilization of U.S. export terminals, which were running near capacity.

路易斯安那州普拉克明斯液化天然氣工廠持續提升產能，為美國液化天然氣產量增長做出了顯著貢獻。Venture Global LNG工廠已獲得美國能源部立即批准，出口量增加 13%，每日新增 4.5 億立方英尺天然氣，以滿足全球日益增長的需求。普拉克明斯液化天然氣工廠的初始設計產能為每年 2000 萬噸（mpta），並已全部簽訂合同。然而，得益於其模塊化設計的卓越性能，該工廠的實際產能最高可超出其初始設計產能的 40%。

Louisiana Plaquemines LNG plant has been contributing significantly to U.S. LNG output growth as it continues to ramp up production. The Venture Global LNG facility received immediate authorization from the Department of Energy for a 13% increase in exports, adding up to 0.45 billion cubic feet of natural gas per day to meet surging global demand. Plaquemines LNG is designed with an initial, fully contracted capacity of 20 million metric tonnes per annum (mpta). However, the facility has shown it can exceed its original nameplate capacity by up to 40% thanks to the high performance of its modular design.

該項目正在進行擴建，長期計劃通過增建模塊化生產線，使總產能達到36 列，最終超過每年 4500 萬至 5800 萬噸。普拉克明斯液化天然氣工廠是美國最大的私營基礎設施項目之一，預計項目總投資額將接近 240 億美元。

The project is undergoing expansion, with long-term plans to exceed 45-58 mpta total capacity through additional modular trains to bring the total to 36 trains. Plaquemines LNG is one of the largest private infrastructure projects in the U.S., with total project costs estimated at nearly $24 billion when completed.

除了普拉克明斯液化天然氣（Plaquemines LNG）大型項目外，路易斯安那州還擁有德爾芬液化天然氣（Delfin LNG）項目，這是一個擬建的深水港項目。德爾芬液化天然氣項目計劃成為美國首個浮式液化天然氣（FLNG）出口設施。該項目將支持三艘FLNG船，年產量可達1320萬噸。德爾芬液化天然氣項目位於路易斯安那州西南角卡梅倫教區海岸約30英里處，將改造UTOS管道並將其與高島海上天然氣管道（HIOS）連接，從而向浮式液化天然氣船輸送原料氣。通過利用這些現有的海上管道並新建一條700英尺長的旁路管道（德爾芬海上管道）連接它們，該項目將最大限度地減少額外的基礎設施投資，因此被歸類為「棕地」深水港項目。2026年2月發生的管道爆炸事故以及相關的監管障礙導致最終投資決定（FID）推迟，預計將於2026年春季做出。Delfin LNG是FLNG船舶開發商Delfin Midstream Inc.的全資子公司。該項目的主要投資方為Fairwood Peninsula Energy Corp（約佔30.7%），Talisman Global Alternative Master LP和Talisman Global Capital Master也參與了投資。

Other than the Plaquemines LNG megaproject, Louisiana is also home to Delfin LNG, a proposed deepwater port project in Louisiana. Delfin LNG is slated to become the first U.S. floating liquefied natural gas (FLNG) export facility. The project will support three FLNG vessels producing up to 13.2 mpta. Located ~30 miles off Cameron Parish in the southwest corner of Louisiana, Delfin LNG will repurpose the UTOS pipeline and connect it with the High Island Offshore Gas Pipeline (HIOS) to transport feedgas to the floating LNG vessels. By utilizing these existing offshore pipelines and constructing a new 700-foot bypass to connect them (the Delfin Offshore Pipeline), the project will minimize additional infrastructure investment, classifying it as a "brownfield" deepwater port project. A February 2026 pipeline explosion and associated regulatory hurdles have delayed the Final Investment Decision (FID), which is now anticipated in the spring of 2026. Delfin LNG is a wholly-owned subsidiary of Delfin Midstream Inc., a developer of FLNG vessels. The project is primarily backed by Fairwood Peninsula Energy Corp (approx. 30.7%), along with Talisman Global Alternative Master LP and Talisman Global Capital Master.

預計到2026 年，美國液化天然氣出口量將增長約 13%，這主要得益於 Venture Global LNG 的 Plaquemines 項目和 Cheniere Energy (NYSE:LNG) 的 Corpus Christi Stage 3 項目新增產能。Port Arthur LNG（德克薩斯州）和 Rio Grande LNG 計劃於 2027 年至 2028 年間投產，預計更多項目將於 2030 年/2031 年上線。

U.S. LNG exports are expected to rise by ~13% in 2026, driven by new capacity from Venture Global LNG's Plaquemines and Cheniere Energy's (NYSE:LNG) Corpus Christi Stage 3. Port Arthur LNG (Texas) and Rio Grande LNG are scheduled to begin operations between 2027-2028, with further projects expected to come online in 2030/2031.

受伴生氣產量增加的推動，二疊紀盆地的天然氣產量預計將會上升，這將有助於滿足美國墨西哥灣沿岸液化天然氣出口終端不斷增長的需求。預計今年二疊紀盆地的天然氣產量將達到280億立方英尺/日，鞏固其作為美國增長最快的天然氣產區的地位。目前，二疊紀盆地的伴生氣產量創下歷史新高，約為220億立方英尺/日，預計到2026年將增至約280億立方英尺/日，約佔美國天然氣總產量的五分之一。

The Permian Basin's gas production is projected to rise, driven by increasing associated gas output, which will help meet surging demand from the U.S. Gulf Coast LNG export terminals. Permian natural gas production is expected to hit 28 Bcf/d in the current year, solidifying the basin's role as the fastest-growing gas-producing play in the U.S. Permian wells are currently producing record amounts of associated residue natural gas at approximately 22 Bcf/d, which is expected to rise to ~28 Bcf/d in 2026, comprising roughly one-fifth of total U.S. production.

總體而言，預計美國液化天然氣出口能力將在2024年至2028年間增長一倍以上，出口量預計將從2024年的119億立方英尺/日增至2030年的215億立方英尺/日，從而鞏固美國作為全球最大液化天然氣出口國的地位。如此快速的增長需要大量新的基礎設施來輸送原料氣。值得慶幸的是，諸如馬特洪峰快線管道等項目的投產有望緩解外輸能力瓶頸，從而有助於穩定瓦哈樞紐的價格。

Overall, U.S. LNG export capacity is projected to more than double between 2024 and 2028, with exports expected to rise from 11.9 Bcf/d in 2024 to 21.5 Bcf/d by 2030, reinforcing the country's position as the top global exporter. The rapid expansion requires significant new infrastructure to transport the feedgas. Thankfully, the startup of projects like the Matterhorn Express Pipeline is expected to mitigate takeaway capacity constraints, helping to stabilize Waha Hub prices.