U.S. LNG feedgas demand is soaring – up, up and away – already above last winter's levels and closing in on a new record.
Last week's average was 16.3 Bcf/d, (see blue-dotted line in graph below) up 0.4 Bcf/d from the previous week, and we expect the previous record to be smashed soon. Cove Point is back from maintenance and is already operating at peak levels, while commissioning at Plaquemines keeps pushing volumes higher.
Feedgas deliveries to Corpus Christi and Calcasieu Pass were both lower last week, with each operating around 85% of typical levels. Most other U.S. terminals continue to run at near full contracted utilization. Plaquemines LNG commissioning intake averaged 3.5 Bcf/d, roughly flat from the week before. Total U.S. feedgas demand is just below the previous all-time high set in April, a record that is likely to be shattered soon. Last winter, U.S. feedgas averaged about 1 Bcf/d higher than summer levels, excluding commissioning volumes.
With commissioning activity, current demand already exceeds last winter’s average. As winter operations ramp up across terminals and commissioning progresses at Plaquemines, Corpus Christi Stage III, and Golden Pass, U.S. feedgas demand is poised to soar well above previous records. Stay tuned to RBN’s LNG Voyager Weekly Report where you’ll hear the latest about LNG records.
