CNG/LNG

Here’s a number every Marcellus and Utica landowner should tape to the refrigerator: $5. That’s where Colorado-based East Daley Analytics thinks Henry Hub natural gas prices are headed by 2031, and the reason is the LNG export buildout on the Gulf Coast, which the firm says will pull roughly 35 billion cubic feet of gas per day out of the U.S. supply pool by 2035. The catch — and it’s a big one — is that nobody has fully answered where all that gas comes from. East Daley published the analysis Aug. 18 in its Daley Note. Most of it is Gulf Coast and Permian Basin material. But bury the lede, and you miss what matters for the M-U audience. Read More “35 Bcf/d of LNG Demand by 2035: Where Will the Gas Come From?”

On July 1, MDN told you Golden Pass LNG had gone dark — three cargoes out the door and then, on June 29, almost no feedgas flowing into the plant at all (see Golden Pass LNG Offline After Sending Out First 3 Cargoes). We now have an answer to what happened next, and it comes from an unusual place: a British satellite 600 kilometers overhead that takes pictures of heat. A public relations firm working for SatVu, a London-based thermal imaging company, sent MDN a news release along with three annotated image sheets. The analysis was done by AllSource Analysis, a Longmont, Colorado imagery-interpretation shop. Their conclusion: on July 9, Golden Pass LNG Train 1 was up and liquefying gas. Read More “Satellite Heat Images Show Golden Pass LNG Train 1 Back to Work”

Venture Global (VG), the Arlington, Virginia-based LNG exporter that operates the Calcasieu Pass and Plaquemines liquefaction plants in Louisiana — and is building a third, CP2 — reported second quarter 2026 results Tuesday that were, by any measure, a blowout. Revenue hit $4.6 billion (up 48% from 2Q25), net income came in at $1.3 billion (up 266%), and consolidated adjusted EBITDA reached $2.5 billion (up 79%), the largest quarterly EBITDA in company history. VG shipped 127 cargoes in the quarter and raised its full-year EBITDA guidance to $8.7-$9.1 billion, up from the $8.2-$8.5 billion it guided to in May. The company also passed its 1,000th cargo overall and jacked up its quarterly dividend by 122%. Why do we care in Appalachia? Because Plaquemines is fed by pipelines that carry Marcellus/Utica molecules south — and VG is planning to nearly double in size. Read More “Venture Global 2Q26: Record $2.5B EBITDA, 127 LNG Cargoes Shipped”

America’s biggest LNG exporter just had a monster quarter — and raised its full-year forecast for the second time this year. Cheniere Energy (NYSE: LNG) shipped 184 cargoes in the second quarter and is now building toward a platform that could eventually swallow more than 10 billion cubic feet of gas a day. Appalachian producers should be paying attention. Cheniere Energy reported second quarter 2026 results on Aug. 6, and the numbers were eye-popping. Revenues hit $5.73 billion, up 24% from a year ago. Consolidated adjusted EBITDA came in at $1.80 billion, up 27%. Net income was $3.07 billion, up 89% — though a big chunk of that is non-cash accounting noise we’ll get to in a minute. Read More “Big LNG Quarter at Cheniere Means Big Demand for M-U Gas”

The Golden Pass LNG terminal is a liquefied natural gas (LNG) terminal and regasification facility in Sabine Pass (Port Arthur), Texas. It is among the largest LNG facilities in the world. It can accommodate up to 15.6 million metric tons (MT) of LNG per year, the equivalent of approximately 2 billion cubic feet of natural gas per day (Bcf/d). In April, Golden Pass exported its first LNG cargo (see Inaugural Cargo Departs Golden Pass LNG, Heading to Belgium). It exported its second cargo in May. On June 25, the facility exported its third cargo since commissioning began. But by Monday, June 29, almost all feedgas flowing to the facility stopped and has stayed stopped. Read More “Golden Pass LNG Offline After Sending Out First 3 Cargoes”

Freeport LNG has become something of a punchline for its frequent outages. Except it’s no laughing matter. Outages at Freeport have happened so frequently that we’ve lost count (see our Freeport outage stories here). According to gas flow data, one of Freeport’s three “trains” was (once again) out of commission last Friday and Saturday, but came back online over the weekend. Freeport is fed, in part, with molecules from the Marcellus/Utica. Antero Resources sells some of its molecules to the Freeport facility (see Antero 4Q: Sending Gas for LNG Exports to Gulf Coast & Cove Point). We suspect other M-U drillers also sell molecules to Freeport. Hence, our ongoing interest in this facility and its somewhat regular outages. Read More “Freeport LNG Returns to Full Output Following Another Outage”