US natgas prices hold steady after smaller-than-expected build (updated)

Sempra

17/09/2026 15:31

EIA says utilities add 44 bcf of gas to storage in week ended September 11
Daily LNG feedgas falls toward 17.5 bcfd, lowest in three weeks on Cameron maintenance
Berkshire Hathaway Energy plans maintenance at Cove Point over the next week
Storage build was far below last year's 87 bcf and the 74 bcf norm
European and Asian gas benchmarks hovered near 44-month highs above $26 per mmBtu
Updates prices and market activity to settlement
By Scott DiSavino
NEW YORK, Sept 17 (Reuters) - U.S. natural gas futures held steady as a bullish smaller-than-expected storage build offset a bearish drop in flows to liquefied natural gas (LNG) export plants.
Front-month gas futures for October delivery NGc1 on the New York Mercantile Exchange rose 1.0 cent, or 0.3%, to settle at $2.901 per million British thermal units (mmBtu).
The U.S. Energy Information Administration (EIA) said energy firms added 44 billion cubic feet (bcf) of gas to storage during the week ended September 11.
That was smaller than the 49-bcf build analysts forecast in a Reuters poll and compares with an increase of 87 bcf during the same week last year and a five-year (2021-2025) average increase of 74 bcf for the period. EIA/GAS NGAS/POLL
     Analysts said last week's build was smaller than usual for this time of year because hot weather and high air conditioning demand left energy firms with less gas to send to storage.
     
SUPPLY AND DEMAND
Financial firm LSEG said average gas output in the U.S. Lower 48 states rose to 113.1 billion cubic feet per day (bcfd) so far in September from a monthly record high of 112.2 bcfd in August.
Record output and mild weather have allowed energy firms to keep the amount of gas in inventory above the five-year (2021-2025) average since March.
Meteorologists forecast weather would remain mostly warmer through October 2, with power generators burning more gas than usual to keep air conditioners running. About 40% of U.S. power generation comes from gas-fired plants.
LSEG said average gas demand in the Lower 48 states, including exports, is expected to slide from 109.6 bcfd this week to 106.6 bcfd next week. Those forecasts were higher than LSEG's outlook on Wednesday.
Average gas flows to the nine big U.S. LNG export plants rose to 18.2 bcfd so far in September, up from 17.2 bcfd in August, but remained short of the monthly record high of 18.8 bcfd in April.
On a daily basis, however, LNG feedgas was on track to fall to a three-week low of 17.5 bcfd on Thursday due mostly to maintenance at U.S. energy firm Sempra Energy's SRE.N 2.0-bcfd Cameron LNG plant in Louisiana.
U.S. energy firm Berkshire Hathaway Energy, meanwhile, said it plans to start scheduled maintenance on its 0.8-bcfd Cove Point LNG export plant in Maryland over the next week or so.
Around the world, gas traded near 44-month highs of around $26 per mmBtu at the Dutch Title Transfer Facility TRNLTTFMc1 benchmark in Europe and $27 at the Japan-Korea Marker JKMc1 benchmark in Asia. NG/EU
     
 
Week ended Sep 11 Actual
Week ended  Sep 4 Actual
Year ago Sep 11
Five-year average (2021-2025) Sep 11
 
 
U.S. weekly natgas storage change (bcf):
+44
+40
+87
+74
 
U.S. total natgas in storage (bcf):
3,298
3,254
3,420
3,180
 
U.S. total storage versus 5-year average
+3.7%
+4.8%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Global Gas Benchmark Futures ($ per mmBtu)
Current Day
Prior Day
This Month Last Year
Prior Year Average 2025
Five-Year Average (2021-2025)
Henry Hub NGc1
2.89
2.89
3.01
3.62
3.79
Title Transfer Facility (TTF) TRNLTTFMc1
26.17
26.02
11.13
11.94
18.51
Japan-Korea Marker (JKM) JKMc1
27.23
25.21
11.32
12.24
18.12
 
 
 
 
 
 
 
 
 
 
 
 
LSEG U.S. Global Forecast System (GFS) Heating, Cooling and Total Degree Days 
 
 
 
 
 
Total Two-Week Forecast
Current Day
Prior Day
Prior Year
10-Year Norm
30-Year Norm
U.S. GFS Heating Degree Days (HDD)
31
22
6
34
54
U.S. GFS Cooling Degree Days (CDD)
123
136
138
118
89
U.S. GFS Total Degree Days (TDD)
154
158
144
152
143
 
 
 
 
 
 
LSEG U.S. Weekly GFS Supply and Demand Forecasts
 
 
 
 
 
 
Prior Week
Current Week
Next Week
This Week Last Year
Five-Year (2021-2025) Average for Month
U.S. Supply (bcfd)
 
 
 
 
 
U.S. Lower 48 Dry Production
113.8
112.5
112.5
107.2
101.5
U.S. Imports from Canada
7.0
6.5
7.3
N/A
7.7
U.S. LNG Imports
0.0
0.0
0.0
0.0
0.0
Total U.S. Supply
120.8
119.0
119.8
N/A
109.2
 
 
 
 
 
 
U.S. Demand (bcfd)
 
 
 
 
 
U.S. Exports to Canada
2.5
2.4
2.4
N/A
2.3
U.S. Exports to Mexico
7.6
7.4
7.7
N/A
6.8
U.S. LNG Export Feedgas
18.4
18.2
17.8
16.0
12.6
U.S. Commercial
4.7
5.0
5.3
4.7
5.0
U.S. Residential
3.6
3.8
4.3
4.0
3.9
U.S. Power Plant
45.3
43.1
39.3
40.9
38.4
U.S. Industrial
21.8
21.9
22.0
22.0
22.1
U.S. Plant Fuel
5.6
5.6
5.6
5.6
5.3
U.S. Pipe Distribution
2.2
2.2
2.1
2.2
2.9
U.S. Vehicle Fuel
0.1
0.1
0.1
0.1
0.2
Total U.S. Consumption
83.5
81.6
78.7
79.5
77.8
Total U.S. Demand
112.0
109.6
106.6
N/A
99.5
 
 
 
 
 
 
N/A = Not Available
 
 
 
 
 
 
 
 
 
 
 
U.S. Northwest River Forecast Center (NWRFC) at The Dalles Dam (fiscal year ending September 30)
2026 Current Day % of Normal Forecast
2026  Prior Day % of Normal Forecast
2025 % of Normal Actual
2024 % of Normal Actual
2023 % of Normal Actual
Apr-Sep 
83
83
76
74
83
Jan-Jul
90
90
78
76
77
Oct-Sep
93
93
80
77
76
 
 
 
 
 
 
U.S. weekly power generation percent by fuel - EIA
 
 
 
 
 
 
Week ended Sep 18
Week ended Sep 11
2025
2024
2023
Wind
11
8
11
11
10
Solar
8
8
6
5
4
Hydro
4
4
6
6
6
Other
2
1
1
1
2
Petroleum
0
0
0
0
0
Natural Gas
42
43
40
42
41
Coal
17
18
18
16
17
Nuclear
17
17
18
19
19
 
 
 
 
 
 
SNL U.S. Natural Gas Next-Day Prices ($ per mmBtu)
 
 
 
 
 
Hub
Current Day
Prior Day
This Month Last Year
Prior Year Average 2025
Five-Year Average (2021-2025)
Henry Hub NG-W-HH-SNL
3.00
2.97
2.97
3.52
3.72
Transco Z6 New York NG-CG-NY-SNL
1.78
1.59
1.85
3.53
3.56
PG&E Citygate NG-CG-PGE-SNL
3.74
3.73
3.74
3.42
5.47
Eastern Gas (formerly Dominion South) NG-PCN-APP-SNL
1.68
1.56
1.75
2.79
2.96
Chicago Citygate NG-CG-CH-SNL
2.82
2.78
2.81
3.23
3.60
Algonquin Citygate NG-CG-BS-SNL
2.50
2.38
2.18
6.08
5.04
SoCal Citygate NG-SCL-CGT-SNL
3.87
3.69
3.11
3.60
5.71
Waha Hub NG-WAH-WTX-SNL
1.77
1.79
-0.06
1.03
2.88
AECO NG-ASH-ALB-SNL
1.09
1.04
0.22
1.13
2.13
 
 
 
 
 
 
Intercontinental Exchange (ICE) U.S. Power Next-Day Prices ($ per megawatt-hour)
 
 
 
 
 
Hub
Current Day
Prior Day
This Month Last Year
Prior Year Average 2025
Five-Year Average (2021-2025)
New England E-NEPLMHP-IDX
55.83
46.93
38.84
77.12
61.67
PJM West E-PJWHRTP-IX
229.74
117.40
51.24
60.23
54.47
Mid-Columbia (Mid C) W-MIDCP-IDX
51.47
56.45
56.16
44.81
68.96
Palo Verde W-PVP-IDX
38.50
37.90
38.04
34.82
59.94
South Path-15 (SP-15) W-SP15-IDX
34.01
32.24
36.05
28.44
53.02
     

 (Reporting by Scott DiSavino)
 ((scott.disavino@thomsonreuters.com; +1 332 219 1922; Reuters Messaging: scott.disavino.thomsonreuters.com@reuters.net/))