US weekly LNG exports dip to 19 cargoes

US LNG exports decreased in the week ending May 18, while the Henry Hub spot price rose when compared to the week before, according to the Energy Information Administration.

The US has exported 19 LNG shipments between May 12 and May 18, down by two shipments when compared to the week before which also marked a drop. EIA attributed the decline in the prior week to seasonal maintenance at LNG plants.

EIA said in its newest weekly natural gas report that natural gas deliveries to LNG export facilities averaged 12 Bcf/d, 0.2 Bcf/d lower than the previous week.

Five out of seven large US LNG terminals exported the 19 cargoes during the week under review.

The total capacity of LNG vessels carrying these cargoes is 73 Bcf.

Cheniere’s Sabine Pass plant dispatched eight cargoes, while its Corpus Christi plant sent four shipments, EIA said, citing Bloomberg Finance shipping data.

The Freeport terminal sent three cargoes and the Cameron and Cove point plants each exported two shipments.

Elba Island and Calcasieu Pass did not ship any cargoes during the week under review.

Henry Hub jumps to $8.45/MMBtu

This report week, the Henry Hub spot price rose 94 cents from $7.51/MMBtu last Wednesday to $8.45/MMBtu this Wednesday.

Prices across the South were higher, as temperatures in the region remained above normal again this report week, resulting in higher air-conditioning demand, EIA said.

Natural gas consumption by the electric power sector along the Gulf Coast increased by 0.3 billion cubic feet per day to 5.0 Bcf/d this report week, according to data from PointLogic.

Feed gas deliveries to LNG export terminals along the Gulf Coast decreased by 0.2 Bcf/d or 1 percent to 10.8 Bcf/d, the agency said.

TTF up

According to the agency, international natural gas prices were mixed this report week.

Bloomberg Finance reported that swap prices for LNG cargoes in East Asia fell 11 cents/MMBtu to a weekly average of $23.51/MMBtu.

At the Dutch TTF, the day-ahead prices increased 10 cents/MMBtu to a weekly average of $28.11/MMBtu.

In the same week last year (week ending May 19, 2021), the prices in East Asia and at TTF were $9.48/MMBtu and $9.17/MMBtu, respectively, EIA said.

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