Average gas flows to the nine big U.S. LNG export plants rose to 18.2 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, however, LNG feedgas was on track to fall to a three-week low of 17.5 bcfd on Thursday due mostly to maintenance at U.S. energy firm Sempra Energy's 2.0-bcfd Cameron LNG plant in Louisiana.
U.S. energy firm Berkshire Hathaway Energy said it plans to start scheduled maintenance on its 0.8-bcfd Cove Point LNG export plant in Maryland over the next week or so.
Around the world, gas traded near 44-month highs of around $26 per mmBtu at the Dutch Title Transfer Facility benchmark in Europe and $27 at the Japan-Korea Marker benchmark in Asia.
Supply, weather and demand outlook
Analysts said last week's build was smaller than usual for this time of year because hot weather and high air conditioning demand left energy firms with less gas to send to storage.
Financial firm LSEG said average gas output in the U.S. Lower 48 states rose to 113.1 billion cubic feet per day (bcfd) so far in September from a monthly record high of 112.2 bcfd in August.
Record output and mild weather have allowed energy firms to keep the amount of gas in inventory above the five-year (2021-2025) average since March.
Meteorologists forecast weather would remain mostly warmer through October 2, with power generators burning more gas than usual to keep air conditioners running. About 40% of U.S. power generation comes from gas-fired plants.
LSEG said average gas demand in the Lower 48 states, including exports, is expected to slide from 109.6 bcfd this week to 106.6 bcfd next week. Those forecasts were higher than LSEG's outlook on Wednesday.
Prices hold steady after smaller storage build
U.S. natural gas futures held steady as a bullish smaller-than-expected storage build offset a bearish drop in flows to liquefied natural gas (LNG) export plants.
Front-month gas futures for October delivery on the New York Mercantile Exchange rose 1.0 cent, or 0.3%, to settle at $2.901 per million British thermal units (mmBtu).
The U.S. Energy Information Administration (EIA) said energy firms added 44 billion cubic feet (bcf) of gas to storage during the week ended September 11.
That was smaller than the 49-bcf build analysts forecast in a Reuters poll and compares with an increase of 87 bcf during the same week last year and a five-year (2021-2025) average increase of 74 bcf for the period.
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