U.S. Demand for LNG Reaches Record High
U.S. demand for liquefied natural gas (LNG) plants hit a record high on Tuesday, with preliminary data showing 15.2 billion cubic feet (bcf) of demand. This surge in demand is attributed to the startup of two new gas-processing plants, according to financial firm LSEG.
The commissioning of Venture Global LNG’s 20 million tones per annum (MTPA) Plaquemines plant in Louisiana and Cheniere Energy’s Corpus Christi Stage 3 expansion in Texas is expected to increase U.S. natural gas demand for LNG plants to 17.8 bcfd next year. This rise in demand could lead to higher production in the U.S. and increased prices at the Henry Hub, the country’s main gas exchange in Louisiana.
Gas prices were up 48 cents in midday trading on Tuesday, at $3.94 per million cubic feet (mcf), according to LSEG data. The U.S. is the world’s largest exporter of LNG, supplying Europe and Asia.
In December, Venture Global and Cheniere announced their first LNG shipments from their expansion projects, with Venture Global’s Plaquemines plant sending its first shipment to Germany. U.S. gas demand for LNG is expected to increase to 20.3 bcfd in 2026 and climb to 24.2 bcfd in 2028, according to US EIA data.
The gains will follow the start of Golden Pass LNG, a joint venture of QatarEnergy and Exxon Mobil, being constructed on the Texas coast, with first gas due in late 2025 or early 2026.