US weekly LNG exports reach 24 cargoes

US liquefied natural gas (LNG) exports reached 24 cargoes in the week ending January 11 while the Henry Hub spot price fell when compared to the last week, according to the Energy Information Administration.

The EIA said in its weekly natural gas report that the total capacity of these 24 vessels is 90 Bcf.

The agency did not release the LNG shipment data in the last two weeks. There were 26 shipments in the week between December 15 and December 21.

However, natural gas deliveries to US LNG export facilities rose during January 5-11 when compared to the week before, the EIA said.

Overall natural gas deliveries to US LNG export terminals increased by 0.7 Bcf/d week over week to average 12.3 Bcf/d this report week, according to data from PointLogic.

Natural gas deliveries to LNG export terminals in South Louisiana increased by 0.6 Bcf/d to 8.7 Bcf/d, while natural gas deliveries to all other terminals increased by 0.1 Bcf/d week over week to 3.6 Bcf/d.

Cheniere’s Sabine Pass plant shipped eleven cargoes and its Corpus Christi facility sent four shipments.

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

Elba Island LNG also sent one cargo during the week under review.

Freeport LNG did not ship any cargoes as it remains shut following an incident at the facility that took place on June 8.

The operator of the LNG terminal is still working to restart operations at its 15 mtpa LNG export plant in Texas and still expects to bring back online the facility this month despite several recent media reports saying that Freeport LNG may delay the restart to February.

Henry Hub drops to $3.35/MMBtu

This report week, the Henry Hub spot price fell 46 cents from $3.81 per million British thermal units (MMBtu) last Wednesday to $3.35/MMBtu this Wednesday, the agency said.

Moreover, the price of the February 2023 Nymex contract decreased 50.1 cents, from $4.172/MMBtu last Wednesday to $3.671/MMBtu this Wednesday.

The price of the 12-month strip averaging February 2023 through January 2024 futures contracts declined 34.8 cents to $3.748/MMBtu, the agency said.

TTF down

The agency said that international natural gas futures prices were down this report week.

Bloomberg Finance reported that weekly average front-month futures prices for LNG cargoes in East Asia decreased $1.63 to a weekly average of $27.67/MMBtu.

Natural gas futures for delivery at the Dutch TTF decreased $1.17 to a weekly average of $22.02/MMBtu.

In the same week last year (week ending January 12, 2022), the prices in East Asia and at TTF were $33.44/MMBtu and $28.18/MMBtu, respectively, the agency said.

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