Market Highlights:
Natural gas storage
Net injections into storage totaled 40 Bcf for the week ending September 4, compared with the five-year (2021–2025) average net injections of 52 Bcf and last year’s net injections of 69 Bcf during the same week. Working natural gas stocks totaled 3,254 Bcf as of Friday, September 4, 2026, according to EIA estimates. Stocks were 148 Bcf (5%) more than the five-year average and 79 Bcf (2%) lower than last year at this time. The average rate of net injections into storage is 7% higher than the five-year average at this point in the refill season (April through October). If the rate of net injections into storage matches the five-year average of 11 Bcf/d for the remainder of the refill season, the total inventory would be 3,901 Bcf on October 31, which is 148 Bcf higher than the five-year average of 3,753 Bcf at the end of the official refill season.
Natural gas prices
The Henry Hub price decreased $0.07/MMBtu from $2.88/MMBtu last Wednesday to $2.81/MMBtu yesterday. The month-to-date average price of $2.89/MMBtu is $0.08/MMBtu less than the average Henry Hub price for September 2025. Regional temperatures diverged last week, with above-average temperatures in Texas and the Midwest and cooler-than-normal conditions in the West. Total U.S. natural gas consumption fell 2.3 Bcf/d (2%), driven primarily by a 1.5 Bcf/d (3%) drop in power burn, according to S&P Global Energy. Net exports to Mexico declined by 0.5 Bcf/d (7%), while feedgas delivered to LNG export facilities held flat at 19.6 Bcf/d. Total natural gas supply remained essentially flat week over week. A 0.4 Bcf/d (7%) decline in net Canadian imports was offset by a 0.4 Bcf/d (less than 1%) increase in dry natural gas production.
Liquefied Natural Gas (LNG)
For the week ending September 9: The LNG-carrying capacity of vessels departing U.S. ports was 137 Bcf, up 10 Bcf from the previous week. Thirty-six LNG vessels left U.S. ports, up three vessels from the previous week.
Eight vessels departed from Sabine Pass, seven from Corpus Christi, six from Plaquemines, five from Freeport, four from Calcasieu Pass, three from Cameron, two from Cove Point, and one from Golden Pass.