US weekly LNG exports up to 24 cargoes

US liquefied natural gas (LNG) exports rose in the week ending July 26, 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 24 LNG carriers departed the US plants between July 20 and July 26, two vessels more when compared to the week before.

The agency said that the total capacity of these LNG vessels is 86 Bcf.

Moreover, overall weekly average natural gas deliveries to US LNG export terminals were essentially unchanged week over week, averaging 12.6 Bcf/d, according to data from S&P Global Commodity Insights.

Natural gas deliveries to terminals in South Texas decreased by 3.1 percent (0.1 Bcf/d) to 3.9 Bcf/d, while deliveries to terminals in South Louisiana increased by 2.6 percent (0.2 Bcf/d) to 7.5 Bcf/d.

Drop in deliveries to Cove Point LNG

The agency said that natural gas deliveries to terminals outside the Gulf Coast decreased by 6.1 percent (0.1 Bcf/d), almost entirely due to a decline in deliveries to the Cove Point LNG terminal in Maryland.

TC Energy declared a force majeure on its Columbia Gas Transmission pipeline after an explosion occurred at a section of the pipeline near Strasburg, Virginia, on Tuesday, which decreased natural gas flows to the Cove Point LNG terminal, it said.

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

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

The Elba Island terminal shipped two cargoes and the Cove point facility sent one cargo during the week under review.

Henry Hub up to $2.61/MMBtu

This report week, the Henry Hub spot price rose 10 cents from $2.51 per million British thermal units (MMBtu) last Wednesday to $2.61/MMBtu this Wednesday, the agency said.

Moreover, the price of the August 2023 NYMEX contract increased 6.2 cents, from $2.603/MMBtu last Wednesday to $2.665/MMBtu this Wednesday.

The price of the 12-month strip averaging August 2023 through July 2024 futures contracts climbed 11.8 cents to $3.259/MMBtu, the agency said.

TTF climbs

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

Bloomberg Finance reported that weekly average front-month futures prices for LNG cargoes in East Asia decreased 10 cents to a weekly average of $11.13/MMBtu.

Natural gas futures for delivery at the Dutch TTF increased $1 to a weekly average of $9.67/MMBtu.

In the same week last year (week ending July 27, 2022), the prices were $39.96/MMBtu in East Asia and $53.64/MMBtu at TTF, the agency said.

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