US LNG exports climb to 26 shipments

US liquefied natural gas (LNG) exports rose in the week ending May 29 compared to the week before, according to the Energy Information Administration.

The agency said in its weekly report that 26 LNG carriers departed the US plants between May 23 and May 29. This is three shipments more compared to the week before.

Citing shipping data provided by Bloomberg Finance, the EIA said the total capacity of these LNG vessels is 98 Bcf.

Natural gas deliveries to US terminals up

Average natural gas deliveries to US LNG export terminals increased 0.2 Bcf/d from last week to 13 Bcf/d, according to data from S&P Global Commodity Insights.

Natural gas deliveries to terminals in South Louisiana were unchanged at 7.5 Bcf/d, while natural gas deliveries to terminals in South Texas increased 5.1 percent (0.2 Bcf/d) to 4.2 Bcf/d.

The agency said that natural gas deliveries to terminals outside the Gulf Coast averaged 1.3 Bcf/d this week.

Cheniere’s Sabine Pass plant shipped eight cargoes and the company’s Corpus Christi facility sent four shipments during the week under review.

The Freeport LNG terminal shipped six cargoes, while Venture Global LNG’s Calcasieu Pass facility and Sempra Infrastructure’s Cameron LNG terminal each shipped three cargoes during the period.

Also, the Cove Point facility sent two cargoes and there were no shipments from the Elba Island facility during the week under review.

Compared to the previous week, Freeport LNG sent one cargo more.

Freeport LNG, the operator of the 15 mtpa liquefaction plant in Texas, told LNG Prime on May 16 it has resumed operations at all of its three liquefaction trains.

The LNG terminal operator said on March 20 that only the third liquefaction train was operating.

Henry Hub drops

This report week, the Henry Hub spot price dropped 30 cents from $2.51 per million British thermal units (MMBtu) last Wednesday to $2.21/MMBtu this Wednesday.

Also, the June 2024 NYMEX contract expired this Wednesday at $2.493/MMBtu, down 35 cents from last Wednesday.

According to the agency, the July 2024 NYMEX contract price decreased to $2.666/MMBtu, down 39 cents from last Wednesday to this Wednesday.

The price of the 12-month strip averaging July 2024 through June 2025 futures contracts declined 24 cents to $3.129/MMBtu.

TTF averaged $10.86/MMBtu

The agency said that international natural gas futures increased this report week.

Bloomberg Finance reported that weekly average front-month futures prices for LNG cargoes in East Asia increased 49 cents to a weekly average of $12/MMBtu.

Natural gas futures for delivery at the Dutch TTF increased 66 cents to a weekly average of $10.86/MMBtu.

In the same week last year (week ending May 31, 2023), the prices were $9.31/MMBtu in East Asia and $7.98/MMBtu at TTF, the agency said.

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