Save for later Print Download Share LinkedIn Twitter It’s no coincidence that US natural gas prices rebounded to near-record levels above $8 per million Btu in July just as the country took over as the world’s largest LNG exporter, according to the US Energy Information Administration. With European gas demand soaring in the wake of the Ukraine war, in-service US LNG terminals are running at full capacity, and new liquefaction trains continue to enter service. Even with the extended outage at Freeport LNG in Texas, nearly 10 to 11 billion cubic feet per day of US production is making its way to foreign markets, helping raise the price floor in an already-tight domestic market. And once Freeport returns to service late this year, add 2 Bcf/d to the tally. But how sustainable is export growth? Many politicians and consumer groups insist the US can’t keep expanding LNG exports while containing domestic prices and are calling on the federal government to intervene. They maintain that gas prices at these levels, while good for producers, are inflicting economic pain for industrial, commercial and millions of residential customers — similar to record-high gasoline prices — and threaten to derail an economic recovery.