US weekly LNG exports climb to 29 cargoes

US liquefied natural gas (LNG) exports rose in the week ending November 1 compared to the week before, according to the Energy Information Administration.

The agency said in its weekly natural gas report that 29 LNG carriers departed the US plants between October 26 and November 1, two vessels more compared to the week before.

Moreover, the total capacity of these LNG vessels is 108 Bcf, the EIA said, citing shipping data provided by Bloomberg Finance.

Average natural gas deliveries to US LNG export terminals rose by 2 percent (0.2 Bcf/d) week over week, averaging 13.9 Bcf/d, according to data from S&P Global Commodity Insights.

Natural gas deliveries to terminals in South Louisiana increased by 2.9 percent (0.2 Bcf/d) to 8.7 Bcf/d.

The agency said that natural gas deliveries to terminals in South Texas and outside the Gulf Coast were essentially unchanged, averaging 4.1 Bcf/d in South Texas and 1.1 Bcf/d outside the Gulf Coast.

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

Sempra Infrastructure’s Cameron LNG terminal dispatched five LNG cargoes as well, while the Freeport LNG terminal sent four LNG cargoes and Venture Global’s Calcasieu Pass shipped three cargoes.

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

EIA noted that Freeport LNG received approval from the US FERC to begin commissioning facilities needed to return to service the second loading dock, while Venture Global also received FERC authorization to place in service liquefaction blocks 7–9 at the Calcasieu Pass LNG export terminal.

All blocks of two liquefaction units each will now be in service at the facility. FERC also authorized the modified commissioning plan to place phase 3 facilities in service.

Henry Hub climbs

This report week, the Henry Hub spot price rose 33 cents from $2.86 per million British thermal units (MMBtu) last Wednesday to $3.19/MMBtu this Wednesday, the agency said.

The November 2023 NYMEX contract expired Friday at $3.164/MMBtu, up 15 cents from last Wednesday.

Moreover, the December 2023 NYMEX contract price increased to $3.494/MMBtu, up 12 cents from last Wednesday to this Wednesday, the EIA said.

According to the agency, the price of the 12-month strip averaging December 2023 through November 2024 futures contracts climbed 12 cents to $3.505/MMBtu.

TTF down

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

Bloomberg Finance reported that weekly average front-month futures prices for LNG cargoes in East Asia decreased 39 cents to a weekly average of $17.82/MMBtu.

Natural gas futures for delivery at the Dutch TTF decreased 29 cents to a weekly average of $15.36/MMBtu.

In the same week last year (week ending November 2, 2022), the prices were $28.97/MMBtu in East Asia and $33.96/MMBtu at TTF, the EIA said.

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