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U.S. liquefied natural gas (LNG) plants are running near full throttle, with demand from export facilities hitting 14.6 billion cubic feet (bcf) on Friday. That’s just shy of the all-time record of 14.7 bcf set last December, according to data from LSEG.
The surge comes as cooler weather settles in and outages at key facilities, like Freeport LNG, ease.
The second-largest LNG exporter in the United States, Freeport LNG, was expected to draw just over 2 bcf on Friday after resolving several outages earlier this year. The plant is closely watched since its operations—or lack thereof—can send global gas prices swinging. Meanwhile, Cheniere Energy’s Sabine Pass facility in Louisiana, the largest U.S. LNG exporter, operated near its capacity, pulling almost 5.2 bcf.
The U.S. continues to dominate as the world’s largest LNG exporter, with more production expected soon as two new plants gear up to go online. This comes as global LNG demand ramps up, especially in Europe, where natural gas prices have surged by 40% in the last two months due to cold weather forecasts and geopolitical tensions.
Natural gas prices in the U.S. remain far lower than in Europe, where the benchmark Dutch TTF prices are nearly five times higher. This price gap is driving more U.S. LNG exports to European markets, helping meet their rising energy needs ahead of winter.
As global markets tighten and colder temperatures arrive, U.S. LNG facilities are expected to play a crucial role in keeping the gas flowing to international buyers, all while pushing domestic production to new limits. With LNG demand near record levels, the U.S. solidifies its position as a global energy powerhouse.
By Julianne Geiger for Oilprice.com
The post U.S. LNG Demand Nears Record Highs as Winter Looms appeared first on Energy News Beat.
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