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Eastern Natural Gas Markets Hit Speed Bump as Cove Point LNG Kicks Off Annual Work

Natural Gas Intelligence · last updated

The Cove Point LNG terminal in Maryland started annual maintenance on Monday that is expected to slash about 0.7 Bcf/d of feed gas demand over the next three weeks, adding to planned pipeline outages expected to hit the region’s natural gas supply.

Chart showing NGI’s Transco Zone 5 daily natural gas prices and Cove Point LNG flow volumes for 2024 and 2025. Prices are plotted in $/MMBtu, with 2024 prices trending near $2-4 and 2025 showing early-year volatility peaking near $30 before stabilizing below $5. Flow volumes, measured in MMcf/d, remain steady around 700-800 for 2024, while 2025 volumes rise late in the year after November. Data sourced from NGI’s Daily Gas Price Index, various EBBs, and Wood Mackenzie.

At A Glance:

  • Cove Point outage trims 0.7 Bcf/d demand
  • Pipeline work offsets Transco Zone 5 impact
  • Analyst warns of ‘more chop’ in supply

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