US weekly LNG exports rise, Henry Hub returns to normal

The US exported more LNG cargoes in the week ending February 24 as the Henry Hub price returned to normal, according to the Energy Information Administration.

To remind, extreme winter weather conditions as well as fog affected US LNG exports last week but also boosted Henry Hub to $23.61/MMBtu, the highest inflation-adjusted price since February 2003.

The Henry Hub spot price fell from the high to $2.75/MMBtu two days ago, EIA said in its weekly report.

In addition, feed gas deliveries to US LNG export facilities averaged 7.4 Bcf/d, or 1.2 Bcf/d higher than last week, EIA said.

Looking at the weekly shipments, five US terminals dispatched fourteen cargoes during the week of February 18-24. The total capacity of LNG vessels carrying these cargoes is 50 Bcf.

This compares to eleven cargoes with the vessels’ capacity of 40 Bcf in the week before.

Furthermore, Cheniere’s Sabine Pass plant sent seven shipments in the week under review while its Corpus Christi plant dispatched one cargo.

Cameron and Cove Point shipped two cargoes, each, while Freeport and Elba Island each sent one shipment.

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