EIA says US weekly LNG exports drop to 22 cargoes

US LNG exports dropped in the week ending March 16, while the Henry Hub spot price rose when compared to the week before, according to the Energy Information Administration.

The agency said in its weekly natural gas report that the US has exported 22 LNG shipments between March 10 and March 16, down by one shipment when compared to the week before.

Natural gas deliveries to LNG export facilities averaged 12.9 Bcf/d, or 0.1 Bcf/d higher than the previous report week.

Five out of seven large US terminals exported the 22 cargoes during the week under review.

The total capacity of LNG vessels carrying these cargoes is 82 Bcf.

Cheniere’s Sabine Pass plant dispatched nine cargoes while its Corpus Christi plant sent four shipments. The Freeport and Cameron terminals each sent four shipments as well, while Cove Point dispatched one cargo.

Henry Hub rises to $4.67/MMBtu

This report week, the Henry Hub spot price rose from $4.56/MMBtu last Wednesday to $4.67/MMBtu this Wednesday.

Feedgas deliveries to LNG export terminals in South Texas decreased 3 percent to 4.0 Bcf/d, while feedgas deliveries to LNG terminals in South Louisiana increased by almost 4 percent to 7.7 Bcf/d, according to data from PointLogic.

Venture Global, operator of the Calcasieu Pass LNG export terminal, received two authorizations from the Federal Energy Regulatory Commission (FERC) this week, including for the Block 5 and the north LNG tank.

Deliveries of natural gas to the terminal continued to rise this week, averaging close to 0.7 Bcf/d according to TransCameron, the operator of the pipeline delivering gas to Calcasieu Pass.

The facility shipped its third cargo to Europe on Thursday, while the first shipment had arrived at France’s Dunkirk LNG terminal.

Cheniere, operator of the Corpus Christi Pipeline, announced planned maintenance at its Sinton Compressor Station in San Patricio County in South Texas, upstream of the Corpus Christi LNG terminal.

The work was scheduled to begin Monday, March 14, and to last about a week.

Nominations have decreased as a result by slightly more than 0.5 Bcf/d from March 13 to March 16, EIA said.

Over the same period, feedgas to Corpus Christi LNG has fallen as well, by almost 0.8 Bcf/d, according to Cheniere.

Cheniere’s Sabine Pass terminal received FERC conditional approval on March 9, to recommission, cool down, and place into service a storage tank that was shut down in 2018 following a leak.

Spot LNG, TTF down

According to the agency, international natural gas prices declined this report week but “have remained elevated since the start of Russia’s further invasion of Ukraine on February 24, which has increased uncertainty in European natural gas markets.”

Bloomberg Finance reported that swap prices for LNG cargoes in East Asia for the balance of March fell $1.79/MMBtu to a weekly average of $38.62/MMBtu.

At the Dutch TTF, the day-ahead prices fell $22.29 to a weekly average of $37.47/MMBtu.

In the same week last year (week ending March 17, 2021), prices in East Asia and at TTF were $6.21/MMBtu and $6.42/MMBtu, respectively, the agency said.

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