France continues to be top importer of US LNG

France was the top destination for US LNG exports for the fifth straight month in July, as Europe continues to receive most of the volumes produced at US liquefaction terminals.

According to the Department of Energy’s newest LNG monthly report, US terminals have sent 53.4 Bcf of LNG to France in July, followed by the Netherlands (34.9 Bcf), Spain (34.4 Bcf), South Korea (34.3 Bcf), and Japan (18.2 Bcf).

These five countries took 58.4 percent of total US LNG exports in July.

In its June report, DOE said that France took 37.6 Bcf of LNG, followed by the Netherlands with 34.4 Bcf, and Spain with 29.6 Bcf.

The US has exported in total 300.2 Bcf of LNG in July, down by 0.1 percent compared to the prior month and July 2021, the DOE report shows.

US terminals shipped 100 LNG cargoes in July, compared to 96 in June and 97 in July 2021.

Cheniere’s Sabine Pass plant sent 40 cargoes while its Corpus Christi terminal shipped 19 cargoes in July.

In addition, Cameron dispatched 28 shipments, followed by Cove Point with ten cargoes, and Elba Island with three shipments.

Freeport LNG did not ship any cargoes due to an incident at the facility that took place on June 8.

According to DOE’s report, the weighted average price by export terminal reached 12.29/MMBtu in July.

Moreover, the report said that in the period from February 2016 through July 2022, the US has exported 3,734 cargoes or 12,052 Bcf to 42 countries.

South Korea remains the top destination for US LNG with 457 cargoes, followed by Japan with 336 cargoes, Spain with 290 cargoes., and China with 267 cargoes.

Besides these four countries, France, the UK, Brazil, India, the Netherlands, and Mexico, are in the top ten as well.

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