Market Report Sneak Peak

U.S. LNG feedgas demand rebounded sharply last week as Freeport returned from an extended maintenance outage and Corpus Christi intake recovered from pipeline work. All U.S. terminals are now operating at or near full contracted utilization. Feedgas demand is poised to strengthen heading into the winter, although upcoming maintenance at Cove Point will temporarily weigh on flows. Global markets remain focused on Europe’s exceptionally low storage inventories and renewed geopolitical tensions in the Middle East, which could keep prices elevated and volatile this winter. Meanwhile, Cheniere reached substantial completion on the final train of Corpus Christi Stage III, bringing the expansion fully online ahead of schedule.