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EIA said in its weekly natural gas storage report that the LNG-carrying capacity of vessels departing US ports was 131 Bcf, up 14 Bcf from the previous week.
Venture Global LNG’s Plaquemines terminal shipped nine cargoes during the week ending July 15, according to the report.
This is probably the first time in EIA’s weekly reports that the Plaquemines LNG facility shipped more cargoes than the Sabine Pass plant.
Cheniere’s Sabine Pass plant shipped seven cargoes and the company’s Corpus Christi facility sent six shipments.
Moreover, the Freeport LNG terminal sent four cargoes, while Venture Global’s Calcasieu Pass facility and Sempra Infrastructure’s Cameron LNG terminal each shipped three cargoes.
The Cove Point facility and the Golden Pass LNG facility each sent one cargo.
This is the fourth cargo Golden Pass LNG, a joint venture of QatarEnergy and ExxonMobil, exported from the first liquefaction train since April this year.
The Elba Island facility did not ship cargoes during the week under review.
Henry Hub down
EIA reported that the Henry Hub spot price fell from $3.31/MMBtu last Wednesday to $2.80/MMBtu this Wednesday.
The agency said prices fell as low as $2.77/MMBtu on Tuesday, which is the lowest price since early May, as maintenance at Freeport LNG contributed to lower LNG feedgas demand.
EIA noted that higher-than-normal temperatures remain across the United States, leading to a 1.4 Bcf/d (3 percent) increase in electric power sector demand.
This increase follows a 5.9 Bcf/d (16 percent) rise last week, according to LSEG Data.
This was partially offset by a 0.7 Bcf/d (4 percent) decline in LNG feedgas demand.
EIA said total US natural gas supply increased by 1.7 Bcf/d (1 percent) last week as both dry natural gas production and net Canadian imports rose by 1.1 Bcf/d (1 percent) and 0.6 Bcf/d (8 percent), respectively.
TTF averaged $17.24/MMBtu
EIA said that the price at the Dutch Title Transfer Facility in Europe averaged $17.24/MMBtu, $1.85 higher than the previous week.
Moreover, the Japan-Korea Marker (JKM) price averaged $16.62/MMBtu, 41 cents higher 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 57 percent and 56 percent, respectively, EIA said.
