US weekly LNG exports down to 21 cargoes

US liquefied natural gas (LNG) exports dropped in the week ending June 28, while the Henry Hub spot price increased when compared to the week before, according to the Energy Information Administration.

The EIA said in its weekly natural gas report that 21 LNG carriers departed the US plants between June 22 and June 28, one vessel less when compared to the week before.

The agency said that the total capacity of these LNG vessels is 75 Bcf.

Moreover, overall weekly average natural gas deliveries to US LNG export terminals increased by 5.1 percent (0.6 Bcf/d) week over week to average 11.5 Bcf/d this report week, according to data from S&P Global Commodity Insights.

Natural gas deliveries to terminals in South Texas increased by 2.5 percent (0.1 Bcf/d) to 4.1 Bcf/d, and deliveries to terminals in South Louisiana increased by 8.1 percent (0.5 Bcf/d) to 6.1 Bcf/d.

The agency said that natural gas deliveries to terminals outside the Gulf Coast were essentially unchanged at 1.2 Bcf/d.

Cheniere’s Sabine Pass plant shipped five cargoes and its Corpus Christi facility sent three 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 Elba Island terminal sent two cargoes and the Cove Point terminal shipped one cargo during the week under review.

Henry Hub climbs to $2.70/MMBtu

This report week, the Henry Hub spot price rose 47 cents from $2.23 per million British thermal units (MMBtu) last Wednesday to $2.70/MMBtu this Wednesday, the agency said.

Moreover, the July 2023 NYMEX contract expired this Wednesday at $2.603/MMBtu, up 1 cent from last Wednesday. 

The August 2023 NYMEX contract price decreased to $2.668/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 declined 5 cents to $3.185/MMBtu, it said.

TTF drops to $10.72/MMBtu

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

Bloomberg Finance reported that weekly average front-month futures prices for LNG cargoes in East Asia increased 46 cents to a weekly average of $11.96/MMBtu.

Natural gas futures for delivery at the Dutch TTF decreased $1.45 to a weekly average of $10.72/MMBtu.

In the same week last year (week ending June 29, 2022), the prices were $37.10/MMBtu in East Asia and $40.74/MMBtu at TTF, the agency said.

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