Market Report Sneak Peak

U.S. LNG feedgas demand held steady last week, with every terminal operating at or above full contracted utilization. The major development continues to be Golden Pass, where feedgas deliveries are ramping ahead of expected first LNG this month. As Train 1 progresses toward full operations, the project will meaningfully lift U.S. LNG demand in the months ahead. Meanwhile, geopolitical tensions in the Middle East jolted global LNG markets, as the world’s largest LNG terminal in Qatar was taken offline after an Iranian drone attack. The full fallout from the conflict will continue to play out but will put upward pressure on global gas prices.