US natgas prices steady as hotter weather offsets record output and lower LNG flows

Average gas flows to the nine big U.S. LNG export plants eased to 17.2 bcfd so far in July due in part to maintenance at several facilities, including Freeport LNG's 2.4-bcfd plant in Texas. That is down from an average of 17.4 bcfd in June and a monthly record high of 18.8 bcfd in April.

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.

Global gas prices have spiked in recent years primarily due to supply disruptions linked to Russia's invasion of Ukraine in 2022 and the U.S.-Israeli war with Iran this year.

Around the world, gas was trading around $20 per mmBtu at the Dutch Title Transfer Facility (TTF) TRNLTTFMc1 benchmark in Europe and $21 at the Japan-Korea Marker (JKM) JKMc1 benchmark in Asia.