US weekly LNG exports rise to 22 cargoes

US liquefied natural gas (LNG) exports rose in the week ending June 21, while the Henry Hub spot price increased as well when compared to the week before, according to the Energy Information Administration.

The EIA said in its weekly natural gas report that 22 LNG carriers departed the US plants between June 15 and June 21, one vessel more when compared to the week before.

The agency said that the total capacity of these LNG vessels is 82 Bcf.

Moreover, natural gas deliveries to US LNG export terminals decreased by 3.7 percent (0.4 Bcf/d) week over week to average 10.9 Bcf/d this report week, according to data from S&P Global Commodity Insights.

Natural gas deliveries to terminals in South Texas fell by 2.1 percent (0.1 Bcf/d) to 4 Bcf/d, largely due to decreased flows to the Freeport terminal, while deliveries to terminals in South Louisiana decreased by 5.7 percent (0.3 Bcf/d) to 5.6 Bcf/d, largely due to decreased flows to the Sabine Pass terminal, the agency said.

Natural gas deliveries to terminals outside the Gulf Coast were relatively unchanged at 1.2 Bcf/d, it said.

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

The Freeport LNG terminal sent five shipments, while Sempra’s Cameron LNG terminal shipped three cargoes, the EIA said, citing shipping data by Bloomberg Finance.

Also, Venture Global’s Calcasieu Pass and the Elba Island terminal each sent two cargoes, and the Cove Point terminal shipped one cargo during the week under review.

Henry Hub climbs to $2.23/MMBtu

This report week, the Henry Hub spot price rose 15 cents from $2.08 per million British thermal units (MMBtu) last Wednesday to $2.32/MMBtu this Wednesday, the agency said.

Moreover, the price of the July 2023 NYMEX contract increased 25.5 cents, from $2.342/MMBtu last Wednesday to $2.597/MMBtu this Wednesday.

The price of the 12-month strip averaging July 2023 through June 2024 futures contracts climbed 14.8 cents to $3.171/MMBtu, it said.

TTF up to $12.17/MMBtu

The agency said that international natural gas futures increased this report week.

Bloomberg Finance reported that weekly average front-month futures prices for LNG cargoes in East Asia increased $2.21 to a weekly average of $11.50/MMBtu.

Natural gas futures for delivery at the Dutch TTF rose $1.77 to a weekly average of $12.17/MMBtu.

In the same week last year (week ending June 22, 2022), the prices were $35.76/MMBtu in East Asia and $38.23/MMBtu at TTF, the agency said.

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