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US LNG natural gas demand nears record level
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US LNG natural gas demand nears record level
Nov 29, 2024 9:00 AM

HOUSTON, Nov 29 (Reuters) - Gas demand from the U.S.

largest liquefied natural gas producers soared on Friday to

near-record levels on cooler weather and fewer outages,

according to preliminary data from financial firm LSEG.

LNG export plants were expected to draw 14.6 billion cubic

feet on Friday, the highest for the year and just shy of the

U.S. record of 14.7 bcf, recorded in December 2023, and up from

the 14.5 bcf recorded on Thursday, LSEG data showed.

Natural gas demand from U.S. LNG export plants is important

as it has been the main source of increased U.S. demand in

recent years.

Freeport LNG, the U.S. second largest exporter of the

superchilled gas was expected to draw just over 2 bcf on Friday,

up from its 1.99 bcf on Thursday, signaling that its three

processing plants called trains are back online after being down

for four days, LSEG data shows.

The plant had several outages this year and is the least

reliable of all of the U.S. LNG export facilities.

Freeport LNG's Quintana, Texas, plant is one of the most

closely watched LNG export plants in the world because the start

and stop of its operations often cause massive price swings in

global natural gas prices.

The largest U.S. LNG exporter Cheniere Energy's two

facilities have been operating near capacity with its Sabine

Pass export facility in Louisiana expected to draw almost 5.2

bcf on Friday, the third out of the last four days that it has

drawn over 5 bcf, according to LSEG data.

The U.S. is the world's largest exporter of the superchilled

gas with two new plants expected to begin producing LNG in the

coming weeks.

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