US weekly LNG exports drop to 24 cargoes

US liquefied natural gas (LNG) exports decreased in the week ending April 19 when compared to the week before, according to the Energy Information Administration.

The EIA said in its weekly natural gas report that 24 LNG carriers departed the US plants between April 13 and April 19, two shipments less when compared to the week before.

Also, the total capacity of LNG vessels carrying these cargoes is 90 Bcf, it said.

Overall weekly average natural gas deliveries to US LNG export terminals increased by 5.6 percent (0.8 Bcf/d) week over week to average 14.5 Bcf/d this report week, according to data from S&P Global Commodity Insights.

Natural gas deliveries to terminals in South Texas increased by 19.8 percent (0.7 Bcf/d) to 4.5 Bcf/d, while deliveries to terminals in South Louisiana were essentially unchanged at a weekly average of 8.7 Bcf/d.

The agency said that natural gas deliveries to terminals outside of the Gulf Coast were also essentially unchanged at 1.3 Bcf/d.

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

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

In addition, Cove Point shipped one cargo as well. There were no shipments from Elba Island, according to the data.

Henry Hub almost flat

This report week, the Henry Hub spot price fell 1 cent from $2.21 per million British thermal units (MMBtu) last Wednesday to $2.20/MMBtu this Wednesday, the agency said.

Moreover, the price of the May 2023 NYMEX contract increased 12.9 cents, from $2.093/MMBtu last Wednesday to $2.222/MMBtu this Wednesday.

According to the agency, the price of the 12-month strip averaging May 2023 through April 2024 futures contracts climbed 10.8 cents to $3.006/MMBtu.

TTF down

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 5 cents to a weekly average of $12.56/MMBtu.

Natural gas futures for delivery at the Dutch TTF fell 48 cents to a weekly average of $13.35/MMBtu.

In the same week last year (week ending April 20, 2022), the prices were $27.16/MMBtu in East Asia and $30.06/MMBtu at TTF, the agency said.

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