US natgas futures climb 2% on lower output, higher LNG exports

Average gas flows to the nine big U.S. LNG export plants rose to 18.3 bcfd so far in September, up from 17.2 bcfd in August, but remained short of the monthly record high of 18.8 bcfd in April.

On a daily basis, LNG feedgas was on track to rise to a 20-week high of 18.7 bcfd on Friday.

U.S. energy firm Berkshire Hathaway Energy, however, has told customers that it plans to shut its 0.8-bcfd Cove Point LNG export plant in Maryland for a couple of weeks of annual maintenance starting around September 19.

The U.S. became the world's biggest LNG exporter in 2023, surpassing Australia and Qatar, as surging global prices fed demand for more low-cost U.S. gas.

Around the world, gas traded at 44-month highs of around $28 per mmBtu at the Dutch Title Transfer Facility TRNLTTFMc1 benchmark in Europe and $25 at the Japan-Korea Marker JKMc1 benchmark in Asia. NG/EU