Barely a year after first gas, the Plaquemines LNG terminal has become a behemoth accounting for roughly one-fifth of U.S. exports — marking the fastest ramp-up ever for an LNG project. The surge has redrawn natural gas flows and is already lifting prices east of Henry Hub as pipelines strain to keep pace.

Chart comparing NGI’s Tennessee Line 500 daily gas price with Gator Express Pipeline receipts for Plaquemines LNG from October 2024 through November 2025. The graphic tracks Tennessee Line 500 prices in $/MMBtu alongside TGP/GXP, TETCO/GXP, and CGT/Wilkinson Bayou nominations, as well as Gator Express Pipeline operating capacity in Bcf/d. Data sources: NGI’s Daily GPI, Wood Mackenzie, and NGI calculations.

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At A Glance:

Plaquemines feed gas calls race to 3.5 Bcf/dTGP 500L premiums surge past 60 centsStation 85 pipelines near full capacity