US weekly LNG exports still low

US weekly liquefied natural gas exports are still weak as prices remain at their lowest levels in years due to the Covid-19 pandemic.

EIA said in its weekly gas natural gas report that three US terminals dispatched only five LNG cargoes during the week July 30-August 5.

The total capacity of the LNG vessels carrying these cargoes is some 18 billion cubic feet.

Compared to the previous week, this represents a decline as the US exported seven LNG cargoes with a capacity of 25 Bcf then.

During the week under review, Cheniere’s Sabine Pass plant in Louisiana shipped three cargoes while Corpus Christi in Texas dispatched one cargo.

Sempra’s Cameron LNG terminal in Louisiana also shipped one cargo during the period.

There may be some relief for US LNG exports as this week’s reports suggest that the nation could increase shipments in August boosting prices at the same time.

If this happens, it would represent the first monthly rise in US LNG exports since February.

EIA’s data also shows that natural gas deliveries to LNG export plants rose to 3.8 billion cubic feet per day from the 3.2 Bcf/d recorded the week before.

Furthermore, the Henry Hub spot price increased from of $1.75/MMBtu last Wednesday to $2.18/MMBtu recorded this Wednesday.

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