According to S&P Global Platts, US LNG production is picking up steam as global gas prices climb.
According to the agency, high gas prices, which are trading at $100 per million British thermal units in European markets, are forcing US LNG export terminals to raise output, as demand for (track gas) hit its highest level this week. It has been in place since the beginning of July 2022.
According to agency statistics, gas demand from US export stations surpassed 11. 5 billion cubic feet per day (approximately 325 million cubic metres) on August 25, the highest level since July 1, 2022.
All US LNG export operations are ramping up output this summer.
Last week, gas prices on European stock exchanges neared historic highs due to a drop in Russian supply, as the Russian Gazprom business put a temporary halt to development on the Northern Stream-1 pipeline.
However, blue fuel prices plummeted by more than 16% today, and blue fuel futures contracts are trading below the 3000 dollar per thousand cubic metres barrier.
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The primary beneficiary of Europe’s increased gas costs
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