US weekly LNG exports climb to 27 cargoes

US liquefied natural gas (LNG) exports rose in the week ending July 5, as Cheniere completed planned maintenance at its Sabine Pass facility, according to the Energy Information Administration.

The EIA said in its weekly natural gas report that 27 LNG carriers departed the US plants between June 29 and July 5, six vessels more when compared to the week before.

The agency said that the total capacity of these LNG vessels is 100 Bcf.

Moreover, overall weekly average natural gas deliveries to US LNG export terminals increased by 11.7 percent (1.3 Bcf/d) week over week to average 12.8 Bcf/d this report week, according to data from S&P Global Commodity Insights.

Natural gas deliveries to terminals in South Louisiana increased by 24 percent (1.5 Bcf/d) to 7.6 Bcf/d, as planned maintenance at Sabine Pass came to an end, the agency said.

The agency said natural gas deliveries to Sabine Pass have increased steadily from 2.2 Bcf/d on June 22 to 4.4 Bcf/d this Wednesday.

Deliveries to terminals in South Texas decreased by 2.6 percent (0.1 Bcf/d) to 4 Bcf/d week over week, while deliveries to terminals outside the Gulf Coast were essentially unchanged at 1.2 Bcf/d, it said.

The Sabine Pass plant shipped eight cargoes and the Corpus Christi facility sent six shipments during the week under review.

The Freeport LNG terminal sent four shipments, while Sempra’s Cameron LNG terminal and Venture Global’s Calcasieu Pass each shipped three cargoes, the EIA said, citing shipping data by Bloomberg Finance.

Also, the Cove Point terminal sent two cargoes and the Elba Island terminal shipped one cargo during the week under review.

Henry Hub down to $2.64/MMBtu

This report week, the Henry Hub spot price dropped 6 cents from $2.70 per million British thermal units (MMBtu) last Wednesday to $2.64/MMBtu this Wednesday, the agency said.

Moreover, the July 2023 NYMEX contract expired last Wednesday at $2.603/MMBtu.

The August 2023 NYMEX contract price decreased to $2.657/MMBtu, down 1 cent from last Wednesday to this Wednesday.

The price of the 12-month strip averaging August 2023 through July 2024 futures contracts climbed 2 cents to $3.209/MMBtu, it said.

TTF cimbs to $11.22/MMBtu

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

Bloomberg Finance reported that weekly average front-month futures prices for LNG cargoes in East Asia increased 18 cents to a weekly average of $12.14/MMBtu.

Natural gas futures for delivery at the Dutch TTF increased 50 cents to a weekly average of $11.22/MMBtu.

In the same week last year (week ending July 6, 2022), the prices were $39.01/MMBtu in East Asia and $47.58/MMBtu at TTF, the agency said.

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