US liquefied natural gas (LNG) exports rose in the week ending February 14 compared to the week before, according to the Energy Information Administration.
The agency said in its weekly natural gas report that 26 LNG carriers departed the US plants between February 8 and February 14, two vessels more compared to the week before.
Moreover, the total capacity of these LNG vessels is 90 Bcf, the EIA said, citing shipping data provided by Bloomberg Finance.
Natural gas deliveries to US terminals up
Average natural gas deliveries to US LNG export terminals increased by 3.8 percent (0.5 Bcf/d) week over week, averaging 13.8 Bcf/d, according to data from S&P Global Commodity Insights.
Natural gas deliveries to terminals in South Louisiana decreased by 1.3 percent (0.1 Bcf/d) to 9.1 Bcf/d, while natural gas deliveries to terminals in South Texas increased by 19.9 percent (0.6 Bcf/d) to 3.5 Bcf/d.
The agency said that most of the increase in South Texas occurred at Cheniere’s Corpus Christi LNG terminal, where natural gas receipts increased by 28 percent (0.5 Bcf/d) week over week after declining by a similar amount the previous report week.
Natural gas deliveries to terminals outside the Gulf Coast were essentially unchanged at 1.2 Bcf/d.
Cheniere’s Sabine Pass plant shipped eight cargoes and the company’s Corpus Christi facility sent three shipments during the week under review.
Sempra Infrastructure’s Cameron LNG terminal shipped five cargoes while Venture Global’s Calcasieu Pass LNG terminal, the Freeport LNG terminal, and the Elba Island terminal each shipped three cargoes during the period.
Also, the Cove Point LNG terminal shipped one cargo, the agency said.
Henry Hub drops to $1.51/MMBtu
This report week, the Henry Hub spot price fell 46 cents from $1.97 per million British thermal units (MMBtu) last Wednesday to $1.51/MMBtu this Wednesday.
The price of the March 2024 NYMEX contract decreased 35.8 cents, from $1.967/MMBtu last Wednesday to $1.609/MMBtu this Wednesday.
According to the agency, the price of the 12-month strip averaging March 2024 through February 2025 futures contracts declined 22.4 cents to $2.417/MMBtu.
TTF averaged $8.26/MMBtu
The agency said that international natural gas futures decreased this report week.
Bloomberg Finance reported that weekly average front-month futures prices for LNG cargoes in East Asia fell 4 cents to a weekly average of $9.42/MMBtu.
Natural gas futures for delivery at the Dutch TTF fell 81 cents to a weekly average of $8.26/MMBtu.
In the same week last year (week ending February 15, 2023), the prices were $17.91/MMBtu in East Asia and $16.68/MMBtu at TTF, the agency said.