US weekly LNG exports rise to 24 shipments

US liquefied natural gas (LNG) exports rose in the week ending August 9, the Energy Information Administration said in its weekly natural gas report.

The EIA said that 24 LNG carriers departed the US plants between August 3 and August 9, one vessel more when compared to the week before.

The agency said that the total capacity of these LNG vessels is 89 Bcf.

Moreover, average natural gas deliveries to US LNG export terminals decreased by 1.4 percent (0.2 Bcf/d) week over week, averaging 12.1 Bcf/d, according to data from S&P Global Commodity Insights.

Natural gas deliveries to terminals in South Texas decreased by 5 percent (0.2 Bcf/d) to 3.8 Bcf/d, while deliveries to terminals in South Louisiana increased by 0.6 percent (less than 0.1 Bcf/d) to 7.2 Bcf/d.

The agency said that natural gas deliveries to terminals outside the Gulf Coast were essentially unchanged at 1.1 Bcf/d.

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

The Freeport LNG terminal and Sempra’s Cameron LNG terminal each shipped four cargoes and Venture Global’s Calcasieu Pass terminal shipped two cargoes, the EIA said, citing shipping data by Bloomberg Finance.

The Cove point facility and the Elba Island terminal each shipped one cargo during the week under review as well, it said.

Henry Hub up to $2.91/MMBtu

This report week, the Henry Hub spot price rose 48 cents from $2.43 per million British thermal units (MMBtu) last Wednesday to $2.91/MMBtu this Wednesday, the agency said.

The last time the Henry Hub traded above $2.90/MMBtu was on January 25 of this year, when it traded at $3.08/MMBtu, the EIA said.

Moreover, the price of the September 2023 NYMEX contract increased 48.2 cents, from $2.477/MMBtu last Wednesday to $2.959/MMBtu this Wednesday.

According to the agency, the price of the 12-month strip averaging September 2023 through August 2024 futures contracts climbed 30.8 cents to $3.472/MMBtu.

TTF climbs

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 7 cents to a weekly average of $10.98/MMBtu.

Natural gas futures for delivery at the Dutch TTF increased $1.42 to a weekly average of $10.35/MMBtu.

In the same week last year (week ending August 10, 2022), the prices were $44.61/MMBtu in East Asia and $59.16/MMBtu at TTF, the EIA said.

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