UK remains top destination for US LNG supplies

The UK was the top destination for US LNG exports for the second month in a row in December 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 69.3 Bcf of LNG to the UK in December, followed by the Netherlands (39.9 Bcf), France (38.3 Bcf), Spain (33.8 Bcf), and South Korea (24.7 Bcf).

These five countries took 60.7 percent of total US LNG exports in December.

The UK took 82.8 Bcf of US LNG in November, followed by France with 50.7 Bcf.

France was the top destination for US LNG exports in October and September while the Netherlands took on this role in August.

Prior to August, France was also the top destination for five straight months.

LNG exports slightly down on year

The US has exported in total 339.6 Bcf of LNG in December, down by 1.6 percent compared to same month in 2021 but up 12.3 percent from the prior month, the DOE report shows.

US terminals shipped 111 LNG cargoes in December. This compares to 111 cargoes in the comparable month and 95 cargoes in the prior month, according to the report.

Cheniere’s Sabine Pass plant sent 41 cargoes, while its Corpus Christi terminal shipped 20 cargoes in December.

In addition, Cameron dispatched 37 shipments, Cove Point sent 10 shipments, and Elba Island sent 3 shipments.

Freeport LNG, which is currently restarting the 15 mtpa plant, remained shut in December due to an incident at the facility that took place on June 8.

4256 LNG cargoes

According to DOE’s report, the weighted average price by export terminal reached 12.19/MMBtu in December.

For the entire 2022, the weighted average price reached 11.79/MMBtu.

Moreover, the report said that in the period from February 2016 through December 2022, the US has exported 4256 cargoes or 13,600.1 Bcf to 45 countries.

South Korea remains the top destination for US LNG with 494 cargoes, followed by Japan with 364 cargoes, Spain with 335 cargoes, and the UK China with 299 cargoes.

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

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