Natural gas demand from US LNG export plants heads for first decline in 8 years

Demand for U.S. natural gas to produce liquefied natural gas (LNG) for export this year is headed for its first decline since the country started exporting the super-chilled fuel from the lower 48 states eight years ago. Natural gas prices have remained relatively high in Europe as the expected U.S. growth in output in 2024 has not materialized and the continent is bracing for a new gas price shock as colder winter weather depletes stocks. Natural gas drillers have profited from robust demand from LNG export plants especially since sanctions on Russian gas boosted European demand for U.S. LNG.