US weekly LNG exports rise to 25 cargoes

US liquefied natural gas (LNG) exports rose in the week ending May 24, while the Henry Hub spot price fell slightly when compared to the week before, according to the Energy Information Administration.

The EIA said in its weekly natural gas report that 25 LNG carriers departed the US plants between May 18 and May 24, one vessel more when compared to the week before.

The agency said that the total capacity of these LNG vessels is 93 Bcf.

Moreover, natural gas deliveries to US LNG export terminals decreased by 0.5 percent (0.1 Bcf/d) week over week to average 12.7 Bcf/d this report week, according to data from S&P Global Commodity Insights.

Natural gas deliveries to terminals in South Texas decreased by 9 percent (0.4 Bcf/d) to 3.8 Bcf/d, while deliveries to terminals in South Louisiana increased by 4.3 percent (0.3 Bcf/d) to 7.7 Bcf/d.

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

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

The Freeport LNG terminal shipped five cargoes, while Venture Global’s Calcasieu Pass dispatched three cargoes, the EIA said, citing shipping data by Bloomberg Finance.

Also, Sempra’s Cameron LNG terminal and the Cove Point LNG terminal each shipped two cargoes and Elba Island LNG sent on cargo during the week under review.

Henry Hub slightly down

This report week, the Henry Hub spot price fell 1 cent from $2.25 per million British thermal units (MMBtu) last Wednesday to $2.24/MMBtu this Wednesday, the agency said.

Moreover, the price of the June 2023 NYMEX contract increased 3.3 cents, from $2.365/MMBtu last Wednesday to $2.398/MMBtu this Wednesday.

According to the agency, the price of the 12-month strip averaging June 2023 through May 2024 futures contracts rose 3.9 cents to $3.099/MMBtu.

TTF drops to $9.27/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 90 cents to a weekly average of $9.73/MMBtu.

Natural gas futures for delivery at the Dutch TTF fell $1.18 to a weekly average of $9.27/MMBtu.

In the same week last year (week ending May 25, 2022), the prices were $22.10/MMBtu in East Asia and $27.16/MMBtu at TTF, the agency said.

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