Headwinds threaten Haynesville growth

Output from the play set for slowdown as pipeline bottlenecks loom and operators remain cautious

The Haynesville basin enjoyed a bumper year in 2022, with output boosted by strong LNG demand in Europe and average Henry Hub spot prices reaching their highest level since 2008. But market oversupply and imminent midstream constraints look set to temper growth in 2023. Output from the Haynesville hit 16.4bn ft³/d (464mn m³/d) in January following production growth of c.13pc over the previous 12 months. The US delivered 41pc of the EU’s LNG last year, according to commodity researcher Kpler, making it the bloc’s top supplier as the war in Ukraine forced the region to look beyond Russia for cargoes.     But early demand and pricing sugg