France remains biggest importer of US LNG

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

The Department of Energy said in its newest LNG monthly report that US terminals have sent 37.6 Bcf of LNG to France in June, followed by the Netherlands (34.4 Bcf), Spain (29.6 Bcf), Argentina (25.2 Bcf), and South Korea (25.1 Bcf).

These five countries took 50.6 percent of total US LNG exports in June.

In its May report, DOE said that France took 47.8 Bcf of LNG, followed by Spain with 40.3 Bcf, and the Netherlands with 28.9 Bcf.

The US has exported in total 300.4 Bcf of LNG in June, down by 14.4 percent compared to the prior month and a 10.8 percent rise year-on-year, the DOE report shows.

US terminals shipped 96 LNG cargoes in June, compared to 114 in May and 91 in June 2021.

Cheniere’s Sabine Pass plant sent 32 cargoes while its Corpus Christi terminal shipped 21 cargoes in June.

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

According to the report, the weighted average price by export terminal reached 13.82/MMBtu in June.

Moreover, the report said that in the period from February 2016 through June 2022, the US has exported 3,639 cargoes or 11,752 Bcf to 42 countries.

South Korea remains the top destination for US LNG with 447 cargoes, followed by Japan with 331 cargoes, and China with 266 cargoes. Spain took more cargoes than China, or 279, but less volumes, according to the data.

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

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