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EIA said in its weekly natural gas storage report that the LNG-carrying capacity of vessels departing US ports was 133 Bcf, up 4 Bcf from the previous week.
Cheniere’s Sabine Pass plant shipped eight LNG cargoes, and the company’s Corpus Christi facility sent seven shipments during the week ending June 17, according to the report.
Moreover, Venture Global LNG’s Plaquemines terminal sent seven cargoes, and its Calcasieu Pass facility sent three cargoes.
The Freeport LNG facility shipped four cargoes and Sempra Infrastructure’s Cameron LNG terminal shipped three cargoes, while the Cove Point facility and the Elba Island facility each sent two cargoes during the week under review.
Henry Hub climbs
EIA reported that the Henry Hub spot price rose from $3.26/MMBtu last Wednesday to $3.32/MMBtu this Wednesday.
The agency said that the average monthly price through June 17 is $0.62/MMBtu (17 percent) below the previous five-year average price for June.
EIA noted that total natural gas consumption increased by 1.8 Bcf/d (2 percent), led by a 1.9 Bcf/d (5 percent) increase in the electric power sector that outweighed minor decreases in other sectors.
Last Friday, natural gas demand in the power sector reached its highest point since last January, according to LSEG data.
Above-average temperatures on the East and West coasts increased demand for space cooling.
EIA said the total US natural gas supply remained largely unchanged, averaging 109.3 Bcf/d, as a slight increase in net imports from Canada offset a slight decrease in dry natural gas production.
TTF averaged $15.11/MMBtu
EIA said that the price at the Dutch Title Transfer Facility in Europe averaged $15.11/MMBtu, $1.54/MMBtu lower than the previous week.
Moreover, the Japan-Korea Marker (JKM) price averaged $17.66/MMBtu, $1.19/MMBtu lower than the previous week.
Compared with the week ending February 25 (before LNG deliveries via the Strait of Hormuz were disrupted), this week’s TTF and JKM prices are up by 37 percent and 66 percent, respectively, EIA said.