France and Spain remain biggest importers of US LNG

France was the top destination for US LNG exports for the third straight month in May, as Europe continues to receive most of the volumes produced at US liquefaction terminals, according to a report by the Department of Energy.

DOE said in its newest LNG monthly report that US terminals have sent 47.8 Bcf of LNG to France in May, followed by Spain (40.3 Bcf), Netherlands (28.9 Bcf), Japan (24.0 Bcf), and Italy (21.7 Bcf).

These five countries took 46.4 percent of total US LNG exports in May.

In its April report, DOE said that France took 56.3 Bcf of LNG, followed by Spain with 40.3 Bcf, and the UK with 36.3 Bcf.

The US has exported in total 351.1 Bcf of LNG in May, up by 6.4 percent compared to the prior month and an 11.5 percent rise year-on-year, the DOE report shows.

US terminals shipped 114 LNG cargoes in May, compared to 107 in April and 102 in May 2021.

Cheniere’s Sabine Pass plant sent 39 cargoes while its Corpus Christi terminal shipped 23 cargoes in May.

In addition, Freeport sent 22 cargoes and Cameron dispatched 20 shipments, followed by Cove Point with eight cargoes, and Elba Island with two.

According to the report, the weighted average price by export terminal reached 11.87/MMBtu in May.

Moreover, the report said that in the period from February 2016 through May 2022, the US has exported 3,550 cargoes or 11,452 Bcf to 42 countries.

South Korea remains the top destination for US LNG with 440 cargoes, followed by Japan with 325 cargoes, and China with 264 cargoes. Spain took more cargoes than China, or 270, but less volumes, according to the data.

Besides these four countries, the UK, France, Brazil, India, Mexico, Turkey, are in the top ten as well.

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