US weekly LNG exports drop to 22 cargoes, Henry Hub climbs

US LNG exports dropped in the week ending June 8, while the Henry Hub spot price rose when compared to the week before, according to the Energy Information Administration.

The US has exported 22 LNG shipments between June 2 and June 8, down by one shipment when compared to the week before, the agency said in its weekly natural gas report.

The total capacity of LNG vessels carrying these cargoes is 82 Bcf.

Natural gas deliveries to LNG export facilities also fell slightly this report week, averaging 12.5 Bcf/d, or 0.3 Bcf/d lower than last week.

Cheniere’s Sabine Pass plant shipped seven cargoes and its Corpus Christi facility sent four shipments. The Freeport facility dispatched five cargoes.

Three shipments left Sempra’s Cameron LNG, two from Venture Global LNG’s Calcasieu Pass, and one from Cove Point, EIA said, citing shipping data by Bloomberg Finance.

Elba Island did not ship any cargoes.

Henry Hub climbs to $9.46/MMBtu

During the week under review, the Henry Hub spot price rose $1.04 from $8.42 per million British thermal units (MMBtu) last Wednesday to $9.46/MMBtu this Wednesday, the agency said.

This was highest daily price since a winter storm contributed to near record-high spot prices in February 2021, EIA said.

Prices across the South rose this week, as higher temperatures led to increased demand for air conditioning.

Deliveries to LNG export terminals in South Texas fell by 0.4 Bcf/d to 3.9 Bcf/d, while deliveries to LNG export terminals in South Louisiana rose slightly to 7.4 Bcf/d, according to data from PointLogic.

Freeport LNG, the operator of one of the largest US LNG export terminals in South Texas, suffered an unplanned outage on Wednesday and is expected to remain out of service for at least three weeks.

EIA said the terminal had been receiving approximately 2 Bcf/d of feed gas in recent weeks.

Spot LNG flat, TTF down

EIA said that international natural gas spot prices were mixed this report week.

Bloomberg Finance reported that the swap prices for LNG cargoes in East Asia were flat week over week at $23.77/MMBtu.

At the Dutch TTF, the day-ahead price fell $2.02/MMBtu to a weekly average of $24.49/MMBtu.

In the same week last year (week ending June 9, 2021), the prices in East Asia and at TTF were $10.65/MMBtu and $9.58/MMBtu, respectively, the agency said.

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