EIA says US weekly LNG exports drop

US LNG exports dropped in the week ending February 16, while the Henry Hub spot price logged a rise when compared to the week before, according to the Energy Information Administration.

The agency said in its weekly natural gas report that the US has exported 23 LNG shipments between February 10 and February 16, down by four cargoes when compared to the week before.

Natural gas deliveries to LNG export facilities averaged 12.6 Bcf/d, or 0.2 Bcf/d higher than last week.

Six US terminals exported the 23 cargoes during the week under review. The total capacity of LNG vessels carrying these cargoes is 85 Bcf.

Cheniere’s Sabine Pass plant dispatched eight cargoes, while its Corpus Christi plant sent three shipments. The Freeport terminal sent five shipments, Cameron four, while Cove Point sent two cargoes. Elba Island dispatched one cargo as well.

Henry Hub spot climbs to $4.39/MMBtu

This report week, the Henry Hub spot price rose from $4.06 per million British thermal unit (MMBtu) last Wednesday to $4.39/MMBtu this Wednesday, after dipping to a low for the report week of $3.89/MMBtu last Thursday.

IHS Markit reported LNG feed gas deliveries to LNG terminals in South Louisiana increased for another week, by 240 million cubic feet per day (MMcf/d) to 7.2 Bcf/d.

Venture Global, operator of the Calcasieu Pass LNG export terminal in Louisiana, received approval on Monday from the US Federal Energy Regulatory Commission to begin the commissioning process for Block 3, which includes two more liquefaction units at the terminal.

TransCameron Pipeline, which transports natural gas to Calcasieu Pass, reported that flows to the terminal reached a record high of 420 MMcf/d on February 16 and feed gas deliveries this report week have averaged close to 350 MMcf/d.

LNG has been steadily produced at the terminal since early January.

Venture Global LNG is expected to ship the first commissioning cargo from its Calcasieu Pass terminal soon, following the arrival of the 174,000-cbm tanker Yiannis at the plant.

The firm said in a report sent to FERC earlier this month it had started producing LNG at its Calcasieu Pass terminal on January 19.

TTF below Asian LNG prices

According to the agency, international natural gas prices were mixed this report week.

Bloomberg Finance reported that swap prices for LNG cargoes in East Asia for the balance of February rose $0.53 to a weekly average of $24.82/MMBtu from $24.29/MMBtu last week.

At the Dutch TTF, the day-ahead prices fell $1.48 to a weekly average of $24.46/MMBtu.

Prices at TTF are now below prices in East Asia for the first time since the week ending January 19. In the same week last year (week ending February 17, 2021), prices in East Asia and at TTF were $7.89/MMBtu and $6.07/MMBtu, respectively, EIA said.

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