US weekly LNG exports reach 23 cargoes

US liquefied natural gas (LNG) exports decreased in the week ending August 2, while the Henry Hub spot price fell as well when compared to the week before, the Energy Information Administration said in its weekly natural gas report.

The EIA said that 23 LNG carriers departed the US plants between July 27 and August 2, one vessel less when compared to the week before.

The agency said that the total capacity of these LNG vessels is 85 Bcf.

Moreover, average natural gas deliveries to US LNG export terminals decreased by 2.6 percent (0.3 Bcf/d) week over week, averaging 12.2 Bcf/d, according to data from S&P Global Commodity Insights.

Natural gas deliveries to terminals in South Texas increased by 1.8 percent (0.1 Bcf/d) to 4 Bcf/d, while deliveries to terminals in South Louisiana decreased by 5.7 percent (0.4 Bcf/d) to 7.1 Bcf/d.

Deliveries to Cove Point LNG rise

The agency said that natural gas deliveries to terminals outside the Gulf Coast increased by 3 percent (less than 0.1 Bcf/d) because of increased deliveries to the Cove Point LNG terminal in Maryland.

Effective July 31, TC Energy lifted the force majeure on its Columbia Gas Transmission pipeline, which resulted in last week’s lower natural gas deliveries to Cove Point, it said.

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

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

The Cove point facility sent one cargo and the Elba Island terminal did not ship cargoes during the week under review, it said.

Henry Hub down to $2.43/MMBtu

This report week, the Henry Hub spot price dropped 18 cents from $2.61 per million British thermal units (MMBtu) last Wednesday to $2.43/MMBtu this Wednesday, the agency said.

Moreover, the August 2023 NYMEX contract expired Thursday at $2.492/MMBtu, down 17 cents from last Wednesday.

The September 2023 NYMEX contract price decreased to $2.477/MMBtu, down 22 cents from last Wednesday to this Wednesday.

According to the agency, the price of the 12-month strip averaging September 2023 through August 2024 futures contracts declined 16 cents to $3.164/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 decreased 21 cents to a weekly average of $10.91/MMBtu.

Natural gas futures for delivery at the Dutch TTF decreased 75 cents to a weekly average of $8.92/MMBtu.

In the same week last year (week ending August 3, 2022), the prices were $43.97/MMBtu in East Asia and $59.54/MMBtu at TTF, the agency said.

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