Cheniere Energy Exec Says Surging US Natgas Prices Will Spur Production

The company's existing Louisiana and Texas operations have ample unused space that could allow for future expansions, Cheniere's Executive Vice President Anatol Feygin, said in a statement.

Marcy de Luna, Reuters

Top U.S. liquefied natural gas producer Cheniere Energy on April 14 said surging U.S. natural gas prices reflect past underinvestment followed by "a demand shock" as Europe seeks to wean itself from Russian gas, and that high prices will spur more production that will benefit consumers.

Gas traded at the main U.S. hub hit $7.30 per million British thermal units (mmBtus) last week, up 96% this year to a 13-year high on record demand. Those prices has companies that consume lots of natural gas calling for curbs on new LNG plants.

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