US LNG exports dropped in the week ending December 15, while the Henry Hub spot price logged a decline as well 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 21 LNG shipments between December 9 and 15. This compares to 26 LNG cargoes in the week before.
Natural gas deliveries to LNG export facilities averaged 11.8 Bcf/d, 1 percent lower than last week.
Six US terminals exported the 21 cargoes during the week under review. The total capacity of LNG vessels carrying these cargoes is 80 Bcf.
Cheniere’s Sabine Pass plant dispatched eight cargoes, while its Corpus Christi plant sent four shipments. The Freeport and Cameron terminals each dispatched four cargoes. Cove Point also sent one cargo.
Henry Hub spot price drops
This report week, the Henry Hub spot price fell from $3.79/MMBtu last Wednesday to $3.75/MMBtu this Wednesday.
Prices at the Henry Hub rose to a weekly high of $3.96/MMBtu on Monday, then fell 31 cents to a weekly low of $3.65/MMBtu on Tuesday, before rising again this Wednesday, EIA said.
Weather, both along the Gulf Coast and across the country, has been highly variable this week.
IHS Markit estimates consumption in Southern Louisiana remained relatively steady this week, rising by less than 0.1 Bcf/d from an average of 3.5 Bcf/d last week to an average of 3.6 Bcf/d this week.
Feed gas volumes to LNG export terminals in Southern Louisiana declined, however, from 6.6 Bcf/d last week to 6.2 Bcf/d this week.
Dense fog along the Gulf Coast affected shipping out of major LNG terminals on Tuesday and Wednesday. Pilot Service was suspended along the Sabine-Neches Waterway, affecting traffic in and out of the Sabine Pass LNG terminal, the agency said.
LNG prices up, TTF climbs
International natural gas prices rose this report week, EIA said.
Bloomberg Finance reported that swap prices for LNG cargoes in East Asia for the balance of December rose to a weekly average of $35.29/MMBtu, the second-highest weekly average on record dating back to January 2020 and 23 cents above last week’s average of $35.06/MMBtu.
At the Dutch Title Transfer Facility (TTF), the day-ahead price rose for the sixth week in a row to a weekly average of $38.10/MMBtu, the highest weekly average on record dating back to September 2007 and up $6.92/MMBtu from last week’s average of $31.18/MMBtu
In the same week last year (week ending December 16, 2020), prices in East Asia and at TTF were $8.00/MMBtu and $5.81/MMBtu, respectively, EIA said.