US LNG exports to France rise

France was the top destination in March for US LNG exports, 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 64.4 Bcf of LNG to France in March, followed by Spain (59.2 Bcf), the UK (56.8 Bcf), the Netherlands (24.9 Bcf), and South Korea (19.3 Bcf).

These five countries took 61.8 percent of total US LNG exports in March.

The top destination for US LNG exports in February, Turkey, was not in the top five receiving countries in March. France was second and took 39.6 Bcf in February, meaning that the European country substantially increased US LNG supplies in March compared to the previous month.

In total, the US has exported 363.8 Bcf of LNG in March, up by 15 percent compared to the prior month and a 13.4 percent rise year-on-year, the DOE report shows.

US terminals shipped 114 LNG cargoes in March, compared to 93 in February and 97 in March 2021.

Cheniere’s Sabine Pass plant sent 38 cargoes while its Corpus Christi terminal shipped 19 cargoes in March.

In addition, Cameron sent 26 cargoes and Freeport dispatched 21 shipments, followed by Cove Point with seven cargoes, and Elba Island with three.

According to the report, the weighted average price by export terminal reached 8.81/MMBtu in March.

Moreover, the report said that in the period from February 2016 through March 2022, the US has exported 3,098 cargoes or 10,770 Bcf to 42 countries.

South Korea remains the top destination for US LNG with 431 cargoes, followed by Japan with 313 cargoes, and China with 260 cargoes.

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

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