US natural gas futures slid more than 7% to about $3.17/MMBtu, nearing their lowest level October 17, as uncertainty over reduced gas flows to LNG export facilities weighed on prices. The decline was driven mainly by lower demand from Freeport LNG in Texas, where gas intake dropped sharply to 0.7 bcfd on Tuesday. However, flows showed signs of recovery, with deliveries to Freeport rising toward 1.4 bcfd on Wednesday, though still below the recent average of 1.9 bcfd. The plant’s three liquefaction trains can process up to 2.4 bcfd when fully operational. Weather forecasts remain supportive, with colder-than-normal temperatures expected across much of the US through January 28, potentially lifting heating demand later this month. On the supply side, domestic production has eased slightly, averaging 109.4 bcfd in January, down from December’s record.
