US weekly LNG exports drop to 23 shipments

US liquefied natural gas (LNG) exports dropped in the week ending May 3 when compared to the week before, according to the Energy Information Administration.

The EIA said in its weekly natural gas report that 23 LNG carriers departed the US plants between April 27 and May 3, five shipments less when compared to the week before.

The agency said that the total capacity of LNG vessels carrying these cargoes is 87 Bcf.

Moreover, average natural gas deliveries to US LNG export terminals decreased by 4.1 percent (0.6 Bcf/d) week over week to average 13.4 Bcf/d this report week, according to data from S&P Global Commodity Insights.

Natural gas deliveries to terminals in South Texas increased by 10 percent (0.4 Bcf/d) to 4.5 Bcf/d, while deliveries to terminals in South Louisiana decreased by 10.9 percent (0.9 Bcf/d) to 7.7 Bcf/d.

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

Cheniere’s Sabine Pass plant shipped eight cargoes and its Corpus Christi facility sent three shipments during the week under review.

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

Also, the Cove Point LNG terminal and Elba Island LNG each shipped one cargo during the week under review.

Henry Hub down

This report week, the Henry Hub spot price fell 16 cents from $2.19 per million British thermal units (MMBtu) last Wednesday to $2.03/MMBtu this Wednesday, the agency said.

Moreover, the May 2023 NYMEX contract expired last Wednesday at $2.117/MMBtu.

According to the agency, the June 2023 NYMEX contract price decreased to $2.170/MMBtu, down 14 cents from last Wednesday to two days ago.

The price of the 12-month strip averaging June 2023 through May 2024 futures contracts declined 10 cents to $2.942/MMBtu, it said.

TTF drops to $12.32/MMBtu

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

Bloomberg Finance reported that weekly average front-month futures prices for LNG cargoes in East Asia fell 36 cents to a weekly average of $11.54/MMBtu.

Natural gas futures for delivery at the Dutch TTF fell 52 cents to a weekly average of $12.32/MMBtu.

In the same week last year (week ending May 4, 2022), the prices were $24.08/MMBtu in East Asia and $30.90/MMBtu at TTF, the agency said.

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