Market Report Sneak Peak

U.S. LNG feedgas demand was essentially flat last week as stronger intake across most terminals offset the ongoing maintenance outage at Cove Point. Most facilities are now operating at or above full utilization, with Venture Global’s terminals particularly strong. Intake at Golden Pass also moved higher but continued uncertainty around its startup timeline remains. Global gas prices eased on negotiations surrounding the Strait of Hormuz, but Europe’s exceptionally low storage inventories remain a major concern heading into winter. Meanwhile, several U.S. LNG expansions advanced through the regulatory process, including Cheniere’s Sabine Pass and Corpus Christi projects and Sempra’s proposed Port Arthur LNG North expansion.