On Tuesday, the final day of the year, U.S. natural gas demand from LNG plants reached a record 15.2 billion cubic feet (bcf), driven by the startup of two new gas-processing plants, according to preliminary data from financial firm LSEG.
Demand for U.S. natural gas by LNG plants is expected to increase to 17.8 billion cubic feet per day (bcfd) next year with the completion of Venture Global LNG’s 20 million tonnes per annum (MTPA) Plaquemines plant in Louisiana and Cheniere Energy’s Corpus Christi Stage 3 expansion in Texas.
This rise in demand for natural gas from LNG export plants could boost U.S. production and raise prices at the Henry Hub gas exchange in Louisiana, analysts say. On Tuesday, gas prices rose 48 cents, reaching $3.94 per million cubic feet (mcf), according to LSEG data.
As the world’s largest exporter of liquefied natural gas (LNG), the U.S. is a key supplier to Europe and Asia. LNG exports and feedgas demand are typically higher during the cooler months of the Northern Hemisphere, as it enhances plant efficiency.
This marks the third time in two weeks that U.S. LNG feedgas demand surpassed 15 bcfd, and the first time it reached 15.2 bcf, according to LSEG data.
In December, both Venture Global and Cheniere announced the first LNG shipments from their expansion projects, with Venture Global’s Plaquemines plant delivering its first shipment to Germany. U.S. gas demand for LNG is projected to grow to 20.3 bcfd by 2026 as new plants increase production, reaching 24.2 bcfd by 2028, according to the U.S. Energy Information Administration (EIA). This growth follows the expected launch of Golden Pass LNG, a joint venture between QatarEnergy and ExxonMobil, with its first gas scheduled for late 2025 or early 2026.
