U.S. exports of liquefied natural gas (LNG) set a record high in 2021, averaging 9.7 billion cubic feet per day (Bcf/d), according to our most recent Natural Gas Monthly. U.S. LNG exports increased by 50% from 2020. The increase in U.S. LNG exports was driven by increased demand in both Europe and Asia (particularly China) and by expanding U.S. liquefaction capacity. In 2021, liquefaction at the six U.S. LNG export terminals averaged 102% of nameplate (or nominal) capacity and 89% of peak capacity, according to our estimates.