According to the US Energy Information Administration (EIA), US LNG developers signed sale and purchase agreements (SPAs) for 40 Mt/year of LNG in 2025 from planned export facilities. This LNG volume equals 5.2 bcf/d (nearly 54 bcm/year), the highest level since 7 bcf/d (54 Mt/year) in 2022 (EIA press release, 03/03/2026).
“Favorable contract terms and increased demand for LNG in Europe and Asia contributed to the rise of SPA signings in 2025. In addition, DOE resumed LNG export permit reviews following a pause initiated in 2024, which had slowed developers’ ability to secure SPAs,” according to the press release.
Developers of Port Arthur Phase 2 contracted 1.4 bcf/d (10.8 Mt/year) of export capacity in 2025, the largest volume nationwide, followed by Rio Grande Phase 2 with 1.2 bcf/d (9.3 Mt/year), CP2 with 1.1 bcf/d (8.5 Mt/year), and Commonwealth LNG with 0.7 bcf/d (5.4 Mt/year). Developers of four other terminals signed the remaining 0.9 bcf/d (≈7.0 Mt/year).
Approximately 95% of the contracted volumes were signed under 20-year SPAs, which will take effect once commissioning is complete and the projects begin long-term commercial operations. Most LNG volumes contracted in 2025 were divided between offtake companies based in Europe and Asia, including utilities, national oil and gas companies, and portfolio players.
Developers reached final investment decisions (FID) on four LNG projects in 2025, adding a combined 7.2 bcf/d (55 Mt/year) of nominal LNG export capacity under construction, according to EIA data. The planned in-service dates for these projects range from 2029 to 2031: Woodside Louisiana LNG Phase 1 (2029), CP2 Phase 1 (2029), Rio Grande Phase 2 (2030–31), and Port Arthur Phase 2 (2031).
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