By Ryan Dezember

It's not a great day in the stock market-except for firms that produce and distribute natural gas, prices for which are surging today.

Seven of the nine stocks in the S&P 500 trading at least 1% higher Monday afternoon are in the gas business, led by producer EQT, which has gained more than 5%.

Forecasts calling for unusually cold weather next month have lifted prices for the heating and power-generation fuel. Meanwhile, the country's largest gas exporter said its latest facility on the Gulf Coast started producing liquefied natural gas, or LNG, heralding the arrival of another big source of demand.

Cheniere Energy said Monday that LNG was produced for the first time by the first stage of the expansion of its massive liquefaction facility in Corpus Christi, Texas. The company said the commissioning process is ongoing and that it expects substantial completion of this first of seven new segments, or "trains," at the export terminal by the end of the first quarter.

Read more on America's booming LNG export business:

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(END) Dow Jones Newswires

December 30, 2024 14:01 ET (19:01 GMT)

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