Top US LNG exporters Cheniere Energy, Sempra, Venture Global and NextDecade are engaged in a four-way drag race, adding expansion after expansion to the development queue as demand soars for non-Mideast volumes. In all, the quartet is targeting aggregate export capacity of nearly 320 million tons per year, or 45 billion cubic feet per day — more than doubling existing capabilities from the US Gulf Coast. The race to build out capacity in what is already the world's largest LNG-exporting country is at least partially a response to the near-halting of flows through the Strait of Hormuz this year. But it could also add to fears of a potential global supply glut late this decade, with sustained demand for LNG not fully guaranteed as buyers adapt to an evolving market. With Qatari volumes under force majeure and some possibly years away from coming back to the market, the US has increased its LNG market share from 25.5% in 2025 to over 30% today. Current US liquefaction capacity stands at about 130 million tons/yr but is poised to grow. Venture Global is now eyeing export capacity of 85 million tons/yr by the end of 2029 across three Gulf Coast terminals and is aiming for 100 million tons/yr by the early 2030s. Its Plaquemines LNG Phase 1 is due to start up in the fourth quarter of this year and Phase 2 in mid-2027; another expansion could reach final investment decision (FID) in the first half of 2027, for start-up in 2029. First LNG from Venture Global's CP2 project is expected in the second half of 2027, and the company is advancing an expansion there. Cheniere is developing a 20 million ton/yr expansion of its 30 million ton/yr Sabine Pass LNG plant in Louisiana, targeting FID on the first of three expansion trains in early 2027. Cheniere is adding another 3 million tons/yr to its 25 million ton/yr Corpus Christi LNG facility in Texas, where it has also proposed a huge 24 million ton/yr Stage 4 expansion. Altogether, these projects have Cheniere on a path to hit 75 million tons/yr by 2030 and 100 million tons/yr by the early 2030s. Meanwhile, the first five trains at NextDecade's Rio Grande LNG facility in Texas are under construction, adding about 30 million tons/yr, with another 18 million tons/yr of capacity in the works. Sempra's two-phase, 27 million ton/yr Port Arthur LNG, currently under construction, was joined this week by a same-sized proposal dubbed Port Arthur LNG North.