LNG feedgas demand has climbed to record levels this winter, of more than 20 Bcf/d. Inflows into US export plants should continue to trend higher in 2026, as Golden Pass LNG and Corpus Christi Stage Three start up. Mid-January saw a significant drop in feedgas demand amid Winter Storm Fern, but volumes have normalized following the event. Over the next several years, feedgas demand is expected to grow by about 8 Bcf/d.
Background on U.S. LNG Exports
Modern LNG exports from the US began in 2016 with the startup of the Sabine Pass LNG terminal. In the following years several more export plants came online, to take advantage of the spread between cheap US gas and higher priced gas in Asia and Europe. The 2022 Russian invasion of Ukraine resulted in European gas prices climbing to record highs, and subsequently led to a rush of new LNG projects planned for the US. Since then, US feedgas demand has grown to 17 Bcf/d of total capacity, with demand expected to nearly double over the next ten years.
Seasonal Dynamics
LNG flows tend to decline in the summer, while they are stronger in the winter. Plant maintenance is often concentrated around May-July for Gulf Coast facilities, while Cove Point LNG goes down for maintenance for aboiut 30 days every fall. In addition to facility and pipeline maintenance, higher ambient temperatures result in lower plant efficiency. This is especially evident in the Gulf Coast facilities. Once temperatures begin rising above 60-70ºF, flows begin to incrementally decline.
Future of US LNG Exports
Map of US LNG Export Terminals
Relevant News
Golden Pass LNG plans first cargo in February
11/18/2025
An anonymous source familiar with the matter said that Golden Pass LNG is planning to ship the first cargo in February 2026, supporting prior startup estimates
This comes as a cargo of LNG is currently headed to Golden Pass to be used to cool down plant equipment, as well as a recent FERC approval to introduce fuel gas to Train 1 ahead of startup
Material feedgas volumes could be flowing into the plant in December at the earliest
Venture Global plans additional Plaquemines expansion
11/18/2025
The LNG exporter filed a FERC application for another expansion of Plaquemines LNG
This expansion would increase the plant's total capacity to more than 7 Bcf/d over three construction phases
Venture Global said the plan to expand capacity is due to strong market demand
An in-service date for the project was not stated, but it's likely it would be closer to the end of the decade
Sempra's Port Arthur Phase 2 reaches FID
9/24/2025
Sempra announced that they have made a final investment decision on Pase 2 of the Port Arthur LNG export plant
Train 3 should start up in 2030, while Train 4 starts in 2031
The expansion will double capacity at the plant to 3.46 Bcf/d
Rio Grande and Commonwealth LNG Receive Key Permits
9/3/2025
Federal regulators issued permits for two planned LNG export projects, helping both advance toward making a final investment decision by the end of the year
The two projects together will have a capacity of nearly 5 Bcf/d and are expected to enter service by the end of the decade
Rio Grande LNG is being built in Brownsville, Texas while Commonwealth will be built on the west side of the Calcasieu Ship Channel in Louisiana
Delfin LNG is nearing FID after securing turbine and engineering deals
The project will be located offshore, about 50 miles south of Louisiana
The project will be built in two stages, with stage one inlcuding three offshore platforms with a total capacity of 1.7 Bcf/d, while Stage 2 will add an additional two platforms.
