US LNG feedgas surged during the week of Nov. 30-Dec. 7 as a sixth train at Cheniere Energy’s Sabine Pass terminal ramped up production and Venture Global LNG’s Calcasieu Pass conducted commissioning activities ahead of startup.
Strong fundamentals in end-user markets were incentivizing shipments, with US Gulf Coast FOB export cargo values fluctuating during the week within an elevated range. Amid the high prompt prices, buyers’ appetite for new long-term contracts to secure US LNG at more reasonable fixed rates has picked up. The S&P Global Platts-assessed Gulf Coast Marker ended the week at $28.40/MMBtu on Dec. 7, up $2/MMBtu from the day before but down 20 cents/MMBtu from the high of the week at $28.60/MMBtu on Dec. 1. The GCM slid to its low of the week, at $26.30/MMBtu, on Dec. 3. Total US feedgas demand […]