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EIA said in its weekly natural gas storage report that the LNG-carrying capacity of vessels departing US ports was 135 Bcf, up 2 Bcf from the previous week.
Cheniere’s Sabine Pass plant shipped nine LNG cargoes, and the company’s Corpus Christi facility sent six shipments during the week ending June 24, according to the report.
Moreover, Venture Global LNG’s Plaquemines terminal sent seven cargoes, and its Calcasieu Pass facility sent two cargoes.
The Freeport LNG facility and Sempra Infrastructure’s Cameron LNG terminal each shipped four cargoes, while the Cove Point facility shipped two cargoes and the Elba Island facility sent one cargo during the week under review.
Henry Hub down
EIA reported that the Henry Hub spot price dropped from $3.32/MMBtu last Wednesday to $3.22/MMBtu this Wednesday.
The agency said that the average monthly price through June 24 is $3.12/MMBtu, with a daily high of $3.32/MMBtu reached last Thursday.
EIA noted that total natural gas consumption decreased by 2.1 Bcf/d (3 percent), with electric power sector demand decreasing 2.0 Bcf/d (5 percent) following last week’s 1.9 Bcf/d (5 percent) increase.
EIA said demand in other sectors remained largely unchanged this week. Temperatures were below-average this week in much of the Midwestern and Northeast United States,
The total US natural gas supply remained largely unchanged for the second week in a row, averaging 109.7 Bcf/d, or 0.3 Bcf/d more than last week, it said.
TTF averaged $13.82/MMBtu
EIA said that the price at the Dutch Title Transfer Facility in Europe averaged $13.82/MMBtu, $1.29 lower than the previous week.
Moreover, the Japan-Korea Marker (JKM) price averaged $15.62/MMBtu, $2.04 lower than the previous week.
Compared with the week ending February 25 (before LNG deliveries via the Strait of Hormuz were disrupted), this week’s TTF and JKM prices are up by 26 percent and 47 percent, respectively.
EIA said that Qatar, which supplies approximately 20 percent of global LNG trade, is expected to resume LNG production at all available trains within a few weeks, according to a statement made by Qatari leadership.