US LNG feedgas demand reached 14.2 Bcf/d on June 22, up 1.2 Bcf/d from May levels, as new liquefaction capacity at Venture Global's Plaquemines Phase 2 and Cheniere's Corpus Christi Stage 3 continued to ramp. LNG exports are now absorbing 13.7% of total US dry gas production, up from 11.8% at the start of 2026.
Plaquemines LNG Phase 2 added 1.2 Bcf/d of feedgas demand in June, with the facility reaching 65% of its full 2.0 Bcf/d capacity. Corpus Christi Stage 3's second train entered commercial service in late May, adding approximately 0.6 Bcf/d of incremental demand.
The structural growth in LNG feedgas demand provides a price floor for Henry Hub. The US is projected to add 5.3 Bcf/d of new LNG export capacity in 2026, according to the EIA, which would bring total US LNG export capacity to 19.5 Bcf/d by year-end.
European natural gas prices are providing the economic incentive. TTF natural gas traded at €42/MWh ($13.50/mmBtu) on June 23, offering a $10.20/mmBtu premium over Henry Hub. The wide arbitrage ensures US LNG cargoes remain economically attractive to buyers, driving sustained feedgas demand.
LNG feedgas demand is the single strongest structural support for Henry Hub. Every new LNG train adds 0.6–1.0 Bcf/d of permanent demand. Budget $3.00 as the effective floor for 2026–2027. Forward prices reflect this — Q1 2027 is trading at $3.45.