US weekly LNG exports reach 24 cargoes

US liquefied natural gas (LNG) exports were flat in the week ending August 16 compared to the week before.

The Energy Information Administration said in its weekly natural gas report that 24 LNG carriers departed the US plants between August 10 and August 16, the same as in the week before.

The agency said that the total capacity of these LNG vessels is 89 Bcf.

Moreover, average natural gas deliveries to US LNG export terminals increased by 1.4 percent (0.2 Bcf/d) week over week, averaging 12.2 Bcf/d, according to data from S&P Global Commodity Insights.

Natural gas deliveries to terminals in South Texas increased by 3 percent (0.1 Bcf/d) to 3.9 Bcf/d, while deliveries to terminals in South Louisiana increased by 1.2 percent (0.1 Bcf/d) to 7.2 Bcf/d.

The agency said that natural gas deliveries to terminals outside the Gulf Coast decreased by 3.4 percent (less than 0.1 Bcf/d) to 1.1 Bcf/d.

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

The Freeport LNG terminal also shipped four cargoes, while Sempra’s Cameron LNG terminal and the Cove Point terminal each shipped three cargoes, the EIA said, citing shipping data by Bloomberg Finance.

Venture Global’s Calcasieu Pass shipped two LNG cargoes and the Elba Island terminal did not send any cargoes during the week under review.

Henry Hub down to $2.55/MMBtu

This report week, the Henry Hub spot price fell 36 cents from $2.91 per million British thermal units (MMBtu) last Wednesday to $2.55/MMBtu this Wednesday, aligning with the decline in the Henry Hub futures price, the agency said.

Moreover, the price of the September 2023 NYMEX contract decreased 36.7 cents, from $2.959/MMBtu last Wednesday to $2.592/MMBtu this Wednesday.

According to the agency, the price of the 12-month strip averaging September 2023 through August 2024 futures contracts declined 13.3 cents to $3.340/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 increased 78 cents to a weekly average of $11.76/MMBtu.

Natural gas futures for delivery at the Dutch TTF increased $1.40 to a weekly average of $11.75/MMBtu.

In the same week last year (week ending August 17, 2022), the prices were $49.94/MMBtu in East Asia and $65.07/MMBtu at TTF, the EIA said.

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