US weekly LNG exports reach 26 cargoes

US liquefaction plants shipped 26 liquefied natural gas (LNG) cargoes in the week ending February 21, while natural gas deliveries to these terminals decreased compared to the week before.

The US EIA said in its weekly natural gas report that 26 LNG carriers departed the US plants between February 15 and February 21, the same as in the week before.

Citing shipping data provided by Bloomberg Finance, the agency said the total capacity of these LNG vessels is 97 Bcf.

Natural gas deliveries to US terminals down 1.4 percent

Average natural gas deliveries to US LNG export terminals decreased by 1.9 percent (0.3 Bcf/d) week over week, averaging 13.6 Bcf/d, according to data from S&P Global Commodity Insights.

Natural gas deliveries to terminals in South Louisiana decreased by 4.5 percent (0.4 Bcf/d), to 8.7 Bcf/d, while natural gas deliveries to terminals in South Texas increased by 4.6 percent (0.2 Bcf/d) to average 3.5 Bcf/d.

The agency said that natural gas deliveries to terminals outside of the U.S. Gulf Coast were essentially unchanged week over week at 1.2 Bcf/d.

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

Sempra Infrastructure’s Cameron LNG terminal shipped four cargoes while Venture Global’s Calcasieu Pass LNG terminal and the Freeport LNG terminal each shipped three cargoes during the period.

Also, the Elba Island terminal sent two LNG cargoes and the Cove Point LNG terminal shipped one cargo, the agency said.

Henry Hub climbs to $1.60/MMBtu

This report week, the Henry Hub spot price rose 9 cents from $1.51 per million British thermal units (MMBtu) last Wednesday to $1.60/MMBtu this Wednesday.

The price of the March 2024 NYMEX contract increased 16.4 cents, from $1.609/MMBtu last Wednesday to $1.773/MMBtu this Wednesday.

According to the agency, the price of the 12-month strip averaging March 2024 through February 2025 futures contracts climbed 19.1 cents to $2.608/MMBtu.

TTF averaged $7.75/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 77 cents to a weekly average of $8.65/MMBtu.

Natural gas futures for delivery at the Dutch TTF fell 51 cents to a weekly average of $7.75/MMBtu.

In the same week last year (week ending February 22, 2023), the prices were $15.34/MMBtu in East Asia and $15.64/MMBtu at TTF, the agency said.

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