UK remains top destination for US LNG cargoes

The UK was the top destination for US liquefied natural gas (LNG) supplies for the fourth month in a row in February.

According to the Department of Energy’s newest LNG monthly report, US terminals shipped 71.7 Bcf of LNG to the UK in February, 39.5 Bcf to France, 39.3 Bcf to the Netherlands, 32.1 Bcf to Spain, and 22.7 Bcf to South Korea.

These five countries took 63 percent of total US LNG exports in February.

US terminals sent 63 Bcf of LNG to the UK in January, 69.3 Bcf of LNG in December, and 82.8 Bcf of LNG in November.

France was the top destination for US LNG exports in October and September, while the Netherlands took on this role in August.

Prior to August, France was also the top destination for five straight months.

US LNG exports rose by 3 percent

The US exported in total 326 Bcf of LNG in February, up by 3 percent compared to the same month last year and down 3.2 percent from the prior month, the DOE report shows.

US terminals shipped 100 LNG cargoes in Ferbuary, compared to 102 in January and 93 in February 2022, according to the report.

Cheniere’s Sabine Pass plant sent 34 cargoes, while its Corpus Christi terminal shipped 18 cargoes in February.

In addition, Cameron LNG dispatched 33 shipments, Cove Point and Freeport each sent six shipments, and Elba Island sent three shipments.

In February this year, Freeport LNG started shipping cargoes again from its LNG export plant in Texas since the shutdown in June 2021.

4458 LNG cargoes

According to DOE’s report, the weighted average price by export terminal reached 9.01/MMBtu in February.

Moreover, the report said that in the period from February 2016 through February 2023, the US exported 4458 cargoes or 14,263.3 Bcf to 44 countries.

South Korea remains the top destination for US LNG with 509 cargoes, followed by Japan with 373 cargoes, the UK with 339 cargoes, Spain with 349 cargoes, and France with 321 cargoes.

Spain took more cargoes but less volumes than the UK, the data shows.

Besides these five countries, China, the Netherlands, India, Turkey, and Brazil are in the top ten as well.

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