US weekly LNG exports climb to 23 cargoes

US liquefied natural gas (LNG) exports rose in the week ending August 30 compared to the week before, according to the Energy Information Administration.

The agency said in its weekly natural gas report that 23 LNG carriers departed the US plants between August 24 and August 30, up by three cargoes compared to the week before.

Moreover, the total capacity of these LNG vessels is 86 Bcf, the EIA said, citing shipping data provided by Bloomberg Finance.

Average natural gas deliveries to US LNG export terminals increased by 2.6 percent (0.3 Bcf/d) week over week, averaging 12.1 Bcf/d, according to data from S&P Global Commodity Insights.

Natural gas deliveries to terminals in South Texas increased by 3.2 percent (0.1 Bcf/d) to 3.9 Bcf/d, while deliveries to terminals in South Louisiana increased by 2.9 percent (0.2 Bcf/d) to 7.2 Bcf/d.

The agency said that natural gas deliveries to terminals outside the Gulf Coast decreased 2 percent to 1 Bcf/d.

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

The Freeport LNG terminal shipped five cargoes, Sempra’s Cameron LNG terminal shipped four cargoes, and Venture Global’s Calcasieu Pass sent two cargoes.

Also, the Cove Point LNG terminal sent one cargo during the week under review, the agency said.

The Elba Island terminal did not ship any cargoes.

Henry Hub drops

This report week, the Henry Hub spot price fell 10 cents from $2.59 per million British thermal units (MMBtu) last Wednesday to $2.49/MMBtu this Wednesday.

Moreover, the September 2023 NYMEX contract expired Tuesday at $2.556/MMBtu, up 6 cents from last Wednesday.

The October 2023 NYMEX contract price increased to $2.796/MMBtu, up 20 cents from last Wednesday to this Wednesday.

According to the agency, the price of the 12-month strip averaging October 2023 through September 2024 futures contracts rose 5 cents to $3.345/MMBtu.

TTF down

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

Bloomberg Finance reported that weekly average front-month futures prices for LNG cargoes in East Asia decreased 76 cents to a weekly average of $13.33/MMBtu.

Natural gas futures for delivery at the Dutch TTF decreased $1.13 to a weekly average of $11.22/MMBtu.

In the same week last year (week ending August 31, 2022), the prices were $64.02/MMBtu in East Asia and $83.62/MMBtu at TTF, the highest weekly average TTF price on record, the agency said.

International natural gas prices have been volatile throughout August due to uncertainty about Australian LNG supplies amid the potential for labor stoppages, the EIA noted.

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