The Globe and Mail reports in its Monday edition that the Middle East dynamics affecting oil markets are also applicable to the LNG sector. The Globe's Brent Jang writes that the United States has been the largest exporter of liquid natural gas in the world for the past three years. Eight U.S. LNG export terminals have opened since 2016, and another four are slated to be operating by 2028, including the first exports from Golden Pass LNG in Texas expected within weeks. In sharp contrast, Shell PLC-led LNG Canada started shipping natural gas in liquid form to Asia from Kitimat, B.C., last June, when it became this country's first export terminal for the fuel. The U.S., Australia and Qatar were by far the world's largest LNG exporters last year. "Global LNG markets are expected to receive increased LNG volumes from LNG Canada," CIBC Capital Markets said in a research note. "The ongoing conflict in Iran is putting global LNG markets at risk of a significant supply shock." Oil often dominates the headlines, but LNG flows are just as exposed to geopolitical risk, according to a note from RBC Wealth Management. Canada recently ranked as the world's fourth-largest oil producer and placed fifth in natural gas output.