LNG Exports Shaved 35 Billion Cubic Feet From the U.S. Gas Glut
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The first exports of U.S. shale gas are already helping to prevent prices for the fuel from revisiting a 17-year low.
Cheniere Energy Inc.’s Sabine Pass terminal in Louisiana has received almost 35.4 billion cubic feet of natural gas since pipeline deliveries to the facility were first reported on Oct. 23, with most of that volume arriving in the last six weeks. Gas futures have climbed 7 percent over the past month as the shipments limit the size of the biggest seasonal supply glut in four years.