US weekly LNG exports drop, Henry Hub spot gas price jumps

The US exported fewer LNG cargoes in the week ending September 15, while the Henry Hub spot gas price increased due to a tightening natural gas market.

The Energy Information Administration said in its weekly natural gas report that the US exported 16 LNG shipments between September 9 and September 15.

This compares to 20 LNG cargoes during the prior week.

Six US terminals exported the 16 cargoes during the week under review. The total capacity of LNG vessels carrying these cargoes is 56 Bcf, compared to 74 Bcf in the week before.

Moreover, Cheniere’s Sabine Pass plant dispatched five cargoes, while its Corpus Christi plant sent four cargoes.

Freeport sent three cargoes while Cameron dispatched two cargoes. The Cove Point facility and Elba Island sent one cargo, each.

This report week, the Henry Hub spot price rose from $4.78/MMBtu last Wednesday to $5.60/MMBtu two days ago.

The Bureau of Safety and Environmental Enforcement (BSEE) reported production from the offshore Gulf of Mexico was approximately 0.8 Bcf/d higher this Wednesday compared with last Wednesday, but it was still almost 0.9 Bcf/d below levels reported before Hurricane Ida, the agency said.

The landfall of Hurricane Nicholas on Monday, September 13, delayed recovery efforts along the Gulf Coast, causing widespread power outages in Texas and flooding in Louisiana.

Despite decreased production, IHS Markit estimates feed gas to LNG export facilities in Louisiana increased week over week, rising 0.4 Bcf/d to 6.2 Bcf/d, EIA said.

Natural gas deliveries to all US LNG export facilities averaged 10.4 Bcf/d, or 0.44 Bcf/d lower than last week.

Spot LNG price, TTF continue to rise

Prices are also rapidly rising internationally. Bloomberg Finance reports swap prices for October LNG cargoes in East Asia rose to a weekly average of $18.69/MMBtu this report week, exceeding the previous record set in January of this year, the agency said.

At the Dutch Title Transfer Facility (TTF), the most liquid European natural gas spot market, prices averaged $17.96/MMBtu this report week.

This marked the highest weekly average on record going back to September 2007, up $2.56/MMBtu from $15.40/MMBtu last week, EIA said.

In the same week last year (week ending September 16, 2020) average prices in East Asia and at TTF were at $4.34/MMBtu and $3.11/MMBtu, respectively, the agency said.

Most Popular

Venture Global reveals LNG fleet details

US LNG exporter Venture Global LNG has revealed more details regarding its fleet of nine owned and three chartered liquefied natural gas carriers.

US FERC issues final SEIS for Commonwealth LNG’s project

The US Federal Energy Regulatory Commission (FERC) has released a final supplemental environmental impact statement for Commonwealth LNG's proposed LNG export plant in Louisiana. The regulator concluded that National Ambient Air Quality Standards (NAAQS) exceedances for 1-hour NO2 may be significant.

India’s April LNG imports climb

India's liquefied natural gas (LNG) imports rose by 21.3 percent year-on-year in April, preliminary data from the oil ministry’s Petroleum Planning and Analysis Cell shows.

More News Like This

GECF says April LNG imports rise

Global liquefied natural gas (LNG) imports rose by 3.5 percent year-on-year in April, boosted by higher imports in Europe, the Gas Exporting Countries Forum said in its latest report.

Atlantic LNG shipping rates continue to drop

Atlantic LNG freight shipping rates continued to decrease this week, while European prices also dropped compared to last week.

US LNG exports up to 29 cargoes

US liquefied natural gas (LNG) plants shipped 29 cargoes during the week ending May 14. According to the Energy Information Administration, pipeline deliveries to the LNG terminals increased compared to the prior week.

Atlantic LNG shipping rates slightly down, European prices climb

Atlantic LNG freight shipping rates rose above $40,000 per day this week, while European prices decreased compared to last week.