September 29, 2023 [LNG Prime]- US liquefied natural gas (LNG) exports declined in the week ending September 27 compared to the week before, according to the Energy Information Administration.
The agency said in its weekly natural gas report that 21 LNG carriers departed the US plants between September 21 and September 27, down by seven cargoes compared to the week before.
Moreover, the total capacity of these LNG vessels is 79 Bcf, the EIA said, citing shipping data provided by Bloomberg Finance.
Average natural gas deliveries to US LNG export terminals decreased by 9.1 percent (1.2 Bcf/d) week over week, averaging 11.8 Bcf/d, according to data from S&P Global Commodity Insights.
Natural gas deliveries to terminals in South Louisiana decreased by 3.2 percent (0.3 Bcf/d) to 7.8 Bcf/d, while deliveries to terminals in South Texas decreased by 7.4 percent (0.3 Bcf/d) to 3.7 Bcf/d.
The agency said that natural gas deliveries to terminals outside the Gulf Coast decreased by 67.6 percent (0.6 Bcf/d) to 0.3 Bcf/d, while natural gas deliveries to the Cove Point LNG terminal in Maryland fell to zero this week.
The Cove Point LNG facility, operated by Berkshire Hathaway’s unit BHE GT&S, has started its annual maintenance on September 20.
Cheniere’s Sabine Pass plant shipped eight cargoes and the company’s Corpus Christi facility sent three shipments during the week under review.
Sempra Infrastructure’s Cameron LNG terminal sent four LNG cargoes, while the Freeport LNG terminal and Venture Global’s Calcasieu Pass each shipped three cargoes during the week under review.
The Elba Island LNG terminal did not send LNG cargoes this week.
Heny Hub down
This report week, the Henry Hub spot price dropped 6 cents from $2.77 per million British thermal units (MMBtu) last Wednesday to $2.71/MMBtu this Wednesday, the agency said.
Moreover, the October 2023 NYMEX contract expired this Wednesday at $2.764/MMBtu, up 3 cents from last Wednesday.
According to the agency, the price of the November 2023 NYMEX contract, which represents the first month of sales of natural gas for winter heating season delivery, decreased to $2.899/MMBtu, down 2 cents from last Wednesday to this Wednesday.
The price of the 12-month strip averaging November 2023 through October 2024 futures contracts declined 1 cent to $3.220/MMBtu, it said.
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 80 cents to a weekly average of $14.63/MMBtu.
Natural gas futures for delivery at the Dutch TTF increased $1.32 to a weekly average of $12.61/MMBtu, the highest weekly average since late April, the agency said.
In the same week last year (week ending September 28, 2022), the prices were $39.77/MMBtu in East Asia and $53.45/MMBtu at TTF, the EIA said.
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