Lindsay Schneider

The momentum for U.S. LNG right now is powerful.

The momentum for U.S. LNG right now is powerful.

Total U.S. LNG export capacity is around 12 Bcf/d, including the still-commissioning-but-nearly-complete Calcasieu Pass. About 13.5 Bcf/d of U.S.

Without a doubt, the two biggest changes to U.S. natural gas markets in the last 15 years have been the Shale Revolution and the development of LNG exports.

This year there’s been unprecedented forward momentum for LNG development. Since 2022 began, two U.S. projects have reached a final investment decision (FID), with a third expected to reach that milestone in early 2023.

Three new LNG export projects have reached a final investment decision (FID) in the past year or so — Venture Global’s Plaquemines LNG, Cheniere’s Corpus Christi Stage III expansion, and, most recently, Sempra’s Port Arthur LNG.

U.S.

LNG feedgas demand has averaged a record of about 12 Bcf/d this summer and fall.

Natural gas prices at the Waha Hub in West Texas have been below zero for going on two weeks — that’s outright negative cash prices, not basis, which means Permian producers are literally paying to have their gas taken away.

U.S. LNG was poised for a year of massive growth in 2024, with new terminals and expansions set to cause feedgas to rise and commercial success in the years following Russia’s 2022 invasion of Ukraine set to spur further LNG project development.