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US LNG Feedgas Drops to 16-Week Low, Reuters Analysis Shows

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US LNG feedgas flows sank to their lowest level since late January, hitting 15.1 billion cubic feet per day on Tuesday due to spring maintenance turnarounds at several export terminals, Reuters reported, citing LSEG data.

The sharp contraction comes despite a partial operational rebound at the QatarEnergy and Exxon Mobil (XOM) led Golden Pass terminal in Texas, which saw daily feedgas flows recover to roughly 0.3 bcfd after taking in virtually zero supply for six consecutive days following its maiden cargo export in late April, the analysis noted.

Monthly average gas flows to US liquefaction plants have retreated to 16.9 bcfd so far in May, down significantly from the historic monthly record high of 18.8 bcfd established in April, it added.

Sustained supply disruptions linked to the war in Ukraine and ongoing geopolitical conflicts involving Israel and Iran have kept global gas benchmarks highly sensitive to any shifts in US export velocity, leaving international buyers closely monitoring the conclusion of these seasonal maintenance cycles.

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