Energy Transfer LP is set to invest up to $5.5 billion in capital projects in 2026, emphasizing natural gas pipeline and processing expansions. The company’s strategy marks a decisive shift from LNG development to domestic infrastructure growth, targeting strong returns and higher adjusted EBITDA.
U.S. natural gas storage fell by 119 Bcf in early January, tightening supplies and lifting futures to $3.50/MMBtu as production slipped, LNG exports hit record levels, and cooler weather forecasts boosted market sentiment.
The latest EIA weekly report shows U.S. working gas inventories at 3,915 Bcf as of October 31 2025, a modest 33 Bcf build yet still 162 Bcf above the five-year average. With strong production and surging LNG exports, the market remains well-supplied — but elevated inventories, warm weather and global flows may keep price upside in check.
The latest EIA data shows U.S. natural gas storage rising 74 Bcf to 3,882 Bcf, keeping inventories above average ahead of winter. Strong LNG exports, a colder weather outlook, and steady production are shaping price momentum as futures hover near $3.90/MMBtu.
Venture Global’s Plaquemines LNG project has secured a federal extension to complete construction, while Commonwealth LNG seeks a four-year deadline shift due to regulatory delays and a historic pause on export approvals. FERC’s handling of these requests signals a pivotal moment for U.S. LNG infrastructure amid shifting global energy demands.
