US weekly LNG exports climb to 28 cargoes

US liquefied natural gas (LNG) exports increased in the week ending April 5, while the Henry Hub spot price rose as well when compared to the week before, according to the Energy Information Administration.

The EIA said in its weekly natural gas report that 28 LNG carriers departed the US plants between March 30 and April 5, eight shipments more when compared to the week before.

Also, the total capacity of LNG vessels carrying these cargoes is 105 Bcf, it said.

Overall weekly average natural gas deliveries to US LNG export terminals increased by 6.9 percent (0.9 Bcf/d) week over week to average 13.9 Bcf/d this report week, according to data from S&P Global Commodity Insights.

Natural gas deliveries to terminals in South Louisiana increased by 3.2 percent (0.3 Bcf/d) to 8.4 Bcf/d, while deliveries to terminals in South Texas increased by 16.5 percent (0.6 Bcf/d) to 4.3 Bcf/d.

The agency said that natural gas deliveries to terminals outside the Gulf Coast were essentially unchanged.

Cheniere’s Sabine Pass plant shipped ten cargoes and its Corpus Christi facility sent four shipments during the week under review.

The Freeport LNG plant sent five cargoes, while Sempra’s Cameron LNG plant sent four cargoes, and Venture Global LNG’s Calcasieu Pass LNG plant sent three cargoes, the EIA said, citing shipping data by Bloomberg Finance.

In addition, the Cove Point LNG facility sent two cargoes during the week under review. The Elba Island terminal did not send any cargoes, according to the data.

Henry Hub up to $2.17 per MMBtu

This report week, the Henry Hub spot price rose 22 cents from $1.95 per million British thermal units (MMBtu) last Wednesday to $2.17/MMBtu this Wednesday, the agency said.

Moreover, the April 2023 NYMEX contract expired last Wednesday at $1.991/MMBtu.

The May 2023 NYMEX contract price decreased to $2.155/MMBtu, down 3 cents from last Wednesday to yesterday.

According to the agency, the price of the 12-month strip averaging May 2023 through April 2024 futures contracts declined 8 cents to $3/MMBtu.

TTF climbs

The agency said that international natural gas futures increased this report week.

Bloomberg Finance reported that weekly average front-month futures prices for LNG cargoes in East Asia rose 24 cents to a weekly average of $12.96/MMBtu.

Natural gas futures for delivery at the Dutch TTF rose $1.48 to a weekly average of $14.96/MMBtu, the agency said.

In the same week last year (week ending April 6, 2022), the prices were $33.99/MMBtu in East Asia and $36.25/MMBtu at TTF, it said.

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