US weekly LNG exports reach 22 cargoes, Henry Hub up

US LNG exports rose in the week ending November 17, while the Henry Hub spot price logged an increase as well when compared to the week before, according to the Energy Information Administration.

The agency said in its weekly natural gas report that the US has exported 22 LNG shipments between November 11 and November 17.

Natural gas deliveries to US LNG export facilities averaged 11.1 Bcf/d, or about 0.1 Bcf/d lower than last week, it said.

Six US terminals exported the 22 cargoes during the week under review. The total capacity of LNG vessels carrying these cargoes is 79 Bcf.

Cheniere’s Sabine Pass plant dispatched seven cargoes, while its Corpus Christi plant sent five shipments. The Freeport LNG terminal and Cameron each sent four shipments while Cove Point dispatched two cargoes.

Henry Hub spot price increased this week

This report week, the Henry Hub spot price rose from $4.58/MMBtu last Wednesday to $4.79/MMBtu this Wednesday, while it increased as high as $5.06/MMBtu on Tuesday, EIA said.

The agency said last week the Henry Hub spot price would average $5.53/MMBtu from November through February and then generally decline through 2022, averaging $3.93/MMBtu for the year amid rising US natural gas production and slowing growth in LNG exports.

Production from Shell-operated Mars and Ursa platforms, which were curtailed as a result of damage sustained from Hurricane Ida, has been restored.

Enbridge, operator of the Mississippi Canyon Gas Pipeline that serves offshore production from Shell’s Olympus, Mars, and Ursa platforms, reported natural gas volumes delivered to the gas plant in Venice, Louisiana, increased by 70 million cubic feet per day (MMcf/d) on November 5 and an additional 100 MMcf/d on November 6.

Current flows on the pipeline are approximately 230 MMcf/d, or more than 130 MMcf/d higher than before Shell’s November 5 announcement that production was restored at the two offshore platforms, EIA said.

LNG prices and TTF climb

International natural gas prices rose this report week, EIA said.

Bloomberg Finance reported that swap prices for LNG cargoes in East Asia for the balance of November increased for the second week in a row.

The weekly average rose to $32.69/MMBtu this report week, 55 cents/MMBtu above last week’s average of $32.13/MMBtu.

At the Title Transfer Facility (TTF) in the Netherlands, the day-ahead price rose for the second week in a row to a weekly average of $27.68/MMBtu, up $2.95/MMBtu from last week’s average of $24.73/MMBtu.

In the same week last year (week ending November 18, 2020), prices in East Asia and at TTF were $6.80/MMBtu and $4.74/MMBtu, respectively, the agency said.

Most Popular

Technip Energies wins contract for Eni’s Coral Norte FLNG

France-based LNG engineering giant Technip Energies has won a contract for preliminary work on Eni's second FLNG project in Mozambique, Coral Norte (Coral North).

Victrol: LNG London hits bunkering milestone

The Shell-chartered inland bunkering vessel LNG London, owned by a joint venture of Belgium's Victrol and France's Sogestran, has reached a new operational milestone.

Himalaya’s LNG-fueled bulkers earned $34,500 per day in June

LNG-powered bulker owner Himalaya Shipping achieved average time charter equivalent earnings of about $34,500 per day in June.

More News Like This

Cheniere’s Sabine Pass terminal ships 3,000th LNG cargo

Cheniere’s giant Sabine Pass LNG terminal in Louisiana has shipped the 3,000th cargo of liquefied natural gas since its launch in 2016.

US LNG exports reach 27 cargoes

US liquefied natural gas (LNG) plants shipped 27 cargoes during the week ending July 9. According to the Energy Information Administration, pipeline deliveries to the LNG terminals rose compared to the prior week.

Portugal’s Sines LNG import terminal hits new milestones

The Sines LNG import terminal in Portugal has reached two new milestones, according to Portugal’s power and gas firm and LNG terminal operator, REN.

EIA lowers Henry Hub price forecast

The US Energy Information Administration expects the Henry Hub spot price to average almost $3.40/MMBtu in the third quarter of this year, 16 percent less than last month’s forecast, according to its latest short-term energy outlook.