LNG

LNG is driving the bulk of US gas demand growth with Gulf Coast capacity additions pushing exports from 15.5 billion cubic feet per day towards 25 Bcf/d by 2028. Henry Hub prices indicate healthy but tightening upstream‑to‑LNG margins from Haynesville, and especially Permian associated gas.

Europe's latest episode of dark and almost wind-still weather – dubbed Dunkelflaute – has once again highlighted the importance of flexible gas generation. Low wind speeds since early November reduced wind power output by 40% yoy, or nearly 15 TWh compared to November 2024, IEA figures show and that shortfall was largely offset by flexible gas power plants ramping up output by 65% yoy, or 13 TWh.