US LNG exports reach 34 shipments

EIA said in its weekly natural gas storage report that the LNG-carrying capacity of vessels departing US ports was 126 Bcf, down 5 Bcf from the previous week.

Cheniere’s Sabine Pass plant shipped nine LNG cargoes and the company’s Corpus Christi facility sent six shipments during the week ending July 22, according to the report.

Moreover, Venture Global LNG’s Plaquemines terminal sent six cargoes and its Calcasieu Pass facility sent two cargoes.

Sempra Infrastructure’s Cameron LNG terminal shipped four cargoes, the Freeport LNG facility sent three shipments, while the Cove Point facility and the Elba Island facility each sent two cargoes during the week under review.

Henry Hub up

EIA reported that the Henry Hub spot price rose from $2.80/MMBtu last Wednesday to $2.95/MMBtu this Wednesday.

The July month-to-date average price of $2.99/MMBtu is $0.21/MMBtu less than last July’s price, it said.

EIA noted that temperatures remained warmer-than-normal across most of the United States for the second week in a row.

Even so, total demand was less than last week, falling 0.6 Bcf/d (1 percent).

This decline was led by a 0.4 Bcf/d (6 percent) reduction in exports to Mexico, according to LSEG data.

Electric power sector demand increased by 0.2 Bcf/d ( less then 1 percent).

Total U.S. natural gas supply fell by 0.6 Bcf/d (1 percent) last week, with lower net Canadian imports (8 percent) accounting for all of this decline, according to LSEG data.

Dry natural gas production remained largely unchanged at 110.8 Bcf/d.

TTF averaged $19.63/MMBtu

EIA said that the price at the Dutch Title Transfer Facility in Europe averaged $19.63/MMBtu, $2.39 higher than the previous week.

Moreover, the Japan-Korea Marker (JKM) price averaged $21.05/MMBtu, $4.43 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 78 percent and 97 percent, respectively, EIA said.