At 05:55 ET (09:55 GMT), natural gas prices fell 2.6% to $3.249 per million British thermal units, or MMBtu, down over 10% over the year to date.
In its latest Short-Term Energy Outlook (STEO) report, the Energy Information Administration (EIA) estimated U.S. natural gas gross exports hit 23.9 billion cubic feet per day (bcf/d) in April – 9.4bcf/d via pipeline and 14.5bcf/d as liquefied natural gas (LNG).
The EIA’s forecast that pipeline gross exports will hit 11bcf/d at the end of 2026, and LNG exports will reach almost 18bcf/d, an increase of 5bcf/d of gross exports in April.
Two new LNG export facilities—Plaquemines LNG Phase 2 and Golden Pass LNG—are the driver of the projected LNG export increase, said analysts at UBS, in a note, dated May 19.
Plaquemines LNG Phase 2 is expected to start exports in the second half of 2025 and Golden Pass LNG at the end of 2025/beginning of 2026.
