EIA: US weekly LNG exports reach 18 cargoes

US liquefied natural gas (LNG) exports dropped in the week ending October 19 when compared to the week before, while the Henry Hub spot price fell as well, according to the Energy Information Administration.

The agency said in its weekly natural gas report that 18 LNG carriers departed the US plants between October 13-19, one cargo less compared to the week before.

According to the agency, the total capacity of LNG vessels carrying these cargoes is 67 Bcf.

Also, natural gas deliveries to US LNG export facilities averaged 11.4 Bcf/d, or 0.6 Bcf/d higher than last week.

Cheniere’s Sabine Pass plant shipped eight cargoes and its Corpus Christi facility sent three shipments.

Sempra’s Cameron LNG sent four shipments and Venture Global LNG’s Calcasieu Pass terminal dispatched three cargoes, EIA said, citing shipping data by Bloomberg Finance.

Elba Island, Cove Point LNG, and Freeport LNG did not ship any cargoes.

The Cove Point terminal in Maryland began annual planned maintenance activities on October 1 while Freeport LNG remains shut following an incident at the facility that took place on June 8.

Freeport LNG still expects to restart operations at its 15 mtpa LNG export plant in Texas in November.

Henry Hub drops

This report week, the Henry Hub spot price fell 97 cents from $6.47 per million British thermal units (MMBtu) last Wednesday to $5.50/MMBtu this Wednesday, the agency said.

Moreover, the November 2022 NYMEX contract price decreased 97.3 cents, from $6.435/MMBtu last Wednesday to $5.462/MMBtu.

The price of the 12-month strip averaging November 2022 through October 2023 futures contracts declined 55.3 cents to $5.180/MMBtu, the agency said.

TTF declines

According to the agency, international natural gas futures prices declined this report week.

Bloomberg Finance reported that weekly average futures prices for LNG cargoes in East Asia decreased $2.71 to a weekly average of $32.11/MMBtu.

Natural gas futures for delivery at the Dutch TTF decreased $8.53 to a weekly average of $37.30/MMBtu, the agency said.

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