US weekly LNG exports drop to 27 cargoes

US liquefied natural gas (LNG) exports decreased in the week ending January 17 compared to the week before, according to the Energy Information Administration.

The agency said in its weekly natural gas report that 27 LNG carriers departed the US plants between January 11 and 17, one vessel less compared to the week before.

Moreover, the total capacity of these LNG vessels is 99 Bcf, the EIA said, citing shipping data provided by Bloomberg Finance.

Natural gas deliveries to US terminals dip

Average natural gas deliveries to US LNG export terminals decreased by 15.4 percent (2.3 Bcf/d) week over week, averaging 12.5 Bcf/d, according to data from S&P Global Commodity Insights.

Natural gas deliveries to terminals in South Louisiana decreased by 12.9 percent (1.2 Bcf/d) to 8 Bcf/d, while natural gas deliveries to terminals in South Texas decreased by 18.6 percent (0.8 Bcf/d) to 3.6 Bcf/d.

The agency said that natural gas deliveries to terminals outside the Gulf Coast the decreased 28.8 percent (0.3 Bcf/d) to 0.9 Bcf/d.

Cheniere’s Sabine Pass plant shipped eight cargoes and the company’s Corpus Christi facility sent four shipments during the period under review.

Sempra Infrastructure’s Cameron LNG terminal shipped five LNG cargoes, and the Freeport LNG terminal shipped four cargoes, while Venture Global’s Calcasieu Pass sent three cargoes during the week under review.

Also, the Cove Point LNG terminal shipped two cargoes, and the Elba terminal shipped one cargo during the week.

This week, Texas and Louisiana experienced a cold snap, which affected operations at Cheniere’s Sabine Pass and Corpus Christi plants as well as the Freeport terminal, according to reports.

Henry Hub drops to $2.87/MMBtu

This report week, the Henry Hub spot price fell 36 cents from $3.23 per million British thermal units (MMBtu) last Wednesday to $2.87/MMBtu this Wednesday, the agency said.

The Henry Hub price reached a high of $13.08/MMBtu on Friday last week, the highest daily closing price since February 2021, reflecting a run-up in prices observed across the country that day, it said.

Natural gas spot prices fell at most locations in the US this report week, after spiking on Friday ahead of the three-day holiday weekend.

Prices were high on Friday in anticipation of increased natural gas consumption because of the weather forecast for well-below-normal temperatures for most of the US over the long weekend, it said.

The price of the February 2024 NYMEX contract decreased 16.9 cents, from $3.039/MMBtu last Wednesday to $2.870/MMBtu this Wednesday.

According to the agency, the price of the 12-month strip averaging February 2024 through January 2025 futures contracts declined 4.8 cents to $2.960/MMBtu.

TTF below $10/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 93 cents to a weekly average of $10.51/MMBtu.

Natural gas futures for delivery at the Dutch TTF decreased 72 cents to a weekly average of $9.62/MMBtu, the first time averaging below $10/MMBtu since mid-summer, the agency said.

In the same week last year (week ending January 18, 2023), the prices were $24.85/MMBtu in East Asia and $20.10/MMBtu at TTF, the EIA said.

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