US weekly LNG exports climb to 22 cargoes

US liquefied natural gas (LNG) exports rose in the week ending October 26 when compared to the week before, while the Henry Hub spot price dropped, according to the Energy Information Administration.

The agency said in its weekly natural gas report that 22 LNG carriers departed the US plants between October 20-26, four cargoes more compared to the week before.

According to the agency, the total capacity of LNG vessels carrying these cargoes is 81 Bcf.

Also, natural gas deliveries to US LNG export facilities increased by 0.1 Bcf/d week over week to average 11.5 Bcf/d this report week.

Cheniere’s Sabine Pass plant shipped nine cargoes and its Corpus Christi facility sent five shipments.

Sempra’s Cameron LNG sent four shipments, Venture Global LNG’s Calcasieu Pass terminal dispatched three cargoes, and Elba Island also dispatched one cargo, EIA said, citing shipping data by Bloomberg Finance.

Cove Point LNG and Freeport LNG did not ship any cargoes.

The Cove Point terminal in Maryland began annual planned maintenance activities on October 1 while Freeport LNG remains shut following an incident at the facility that took place on June 8.

Freeport LNG still expects to restart operations at its 15 mtpa LNG export plant in Texas in November.

Henry Hub declines

This report week, the Henry Hub spot price fell 24 cents from $5.50 per million British thermal units (MMBtu) last Wednesday to $5.26/MMBtu this Wednesday, the agency said.

Moreover, the price of the November 2022 NYMEX contract increased 14.4 cents, from $5.462/MMBtu last Wednesday to $5.606/MMBtu.

The price of the 12-month strip averaging November 2022 through October 2023 futures contracts climbed 12.2 cents to $5.302/MMBtu, the agency said.

TTF down

According to the agency, international natural gas futures prices declined this report week.

Bloomberg Finance reported that weekly average futures prices for LNG cargoes in East Asia decreased $0.59 to a weekly average of $31.52/MMBtu.

Natural gas futures for delivery at the Dutch TTF decreased $5.69 to a weekly average of $31.61/MMBtu.

Earlier this report week, the TTF price dropped below the East Asia price for the first time since April of this year, EIA said.

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