in 2016. After a US-EU agreement in 2018, exports from USA to EU increased. In November 2021, U.S. producer Venture Global LNG signed a twenty-year contract with China's state-owned Sinopec to supply liquefied natural gas. China's imports of U.S. natural gas will more than double. U.S. exports of liquefied natural gas to China and other Asian countries surged in 2021, with Asian buyers willing to pay higher prices than European importers. This reversed in 2022, when most of US LNG went to Europe. US LNG export contracts are mainly made for 15—20 years. Imports In 1964, the UK and France made the first LNG trade, buying gas from Algeria, witnessing a new era of energy. In 2014, 19 countries exported LNG. Compared with the crude oil market, in 2013 the natural gas market was about 72 percent of the crude oil market (measured on a heat equivalent basis), of which LNG forms a small but rapidly growing part. Much of this growth is driven by the need for clean fuel and some substitution effect due to the high price of oil (primarily in the heating and electricity generation sectors). Japan, South Korea, Spain, France, Italy and Taiwan import large volumes of LNG due to their shortage of energy. In 2005, Japan imported 58.6 million tons of LNG, representing some 30 percent of the LNG trade around the world that year. Also in 2005, South Korea imported 22.1 million tons, and in 2004 Taiwan imported 6.8 million tons. These three major buyers purchase approximately two-thirds of the world's LNG demand. In addition, Spain imported some 8.2 MTPA in 2006, making it the third largest importer. France also imported similar quantities as Spain. Following the Fukushima Daiichi nuclear disaster in March 2011 Japan became a major importer accounting for one third of the total. European LNG imports fell by 30 percent in 2012, and fell further by 24 percent in 2013, as South American and Asian importers paid more. European LNG imports increased to new heights in 2019, remained high in 2020 and 2021, and increased even more in 2022. Main contributors were Qatar, USA, and Russia. In 2017, global LNG imports reached 289.8 million tonnes of LNG. In 2017, 72.9% of global LNG demand was located in Asia. Cargo diversion Based on the LNG SPAs, LNG is destined for pre-agreed destinations, and diversion of that LNG is not allowed. However, if