• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

Sign up
  • Home
  • BOE Intel
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts/Data
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
    • Data
      • Canada Oil Market Data
      • Canada NG Market Data
      • USA Market Data
      • Data Downloads
  • Jobs

U.S. LNG exports decrease, Europe remains top destination

May 2, 20224:22 PM Reuters0 Comments

U.S. exports of liquefied natural gas (LNG) fell about 8% last month, according to preliminary Refinitiv vessel tracking data on Monday, but Europe remained the top importer as the continent secures alternate supply following Russia’s invasion of Ukraine.

U.S. LNG exports to all destinations came to about 7.10 million tonnes (MT) last month, according to Refinitiv, down from a record high 7.67 MT in March.

Europe was the top importer of U.S. LNG for a fifth straight month, taking about 64% of U.S. exports, according to the data. European countries are slashing gas imports from Russia after its invasion of Ukraine. Moscow has threatened to cut supply to “unfriendly nations,” and even cut flow to Bulgaria and Poland last week.

“Europe remains the dominant buyer of U.S. volumes,” said Reid I’Anson, senior commodity analyst at Kpler. “That seems to be continuing into the shoulder months.”

The drop in U.S. exports stems mainly from planned maintenance at U.S. LNG plants, experts said, which reduces available liquefaction capacity, though exports still exceeded expectations.

Eventually, operators will have to conduct maintenance or risk operational troubles during peak winter demand.

“The longer and harder these facilities run, which they have been for the last year, the more likely you’re going to have issues pop up,” said Ross Wyeno, lead analyst of Americas LNG Analytics at S&P Global Commodity Insights.

Last month, U.S. energy company Sempra Energy’s Cameron LNG plant in Louisiana began a three-week maintenance period on a liquefaction train, while Freeport LNG had an 18-day maintenance period, according to S&P.

The United States is producing more LNG year-over-year because of additional capacity from Venture Global’s new Calcasieu Pass LNG export terminal in Cameron Parish, Louisiana, as it ramps up.

Cheniere Energy Inc’s Sabine Pass facility in Louisiana now has a sixth liquefaction train operating. The U.S. Energy Department last month approved Cheniere to export more LNG from its Sabine Pass and Corpus Christi, Texas, terminals.

About 13% of exports went to Asia and 2% to Latin America, data showed. About 21 vessels responsible for 21% of volumes had not signaled a destination.

Global prices have tapered off in recent weeks. The European LNG benchmark this week traded at $30 per million British thermal units (mmBtu), according to Refinitiv, compared with $39.22 per mmBtu for the same week in March.

Asia spot gas this week traded at $23.50 per mmBtu, down from $35.00 per mmBtu in March.

LNG

Follow BOE Report
  • Facebook
  • Twitter
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • Cenovus Energy updates production impact of Alberta wildfires
  • NuVista Energy Ltd. provides update on wildfires and production guidance
  • Canada’s Trans Mountain seeks approval for tolls for expanded oil pipeline
  • A&D update – Spur Petroleum non-core asset sale – see who the buyer was on BOE Intel
  • US natgas futures jump 5% on low wind power forecasts, soaring global prices.

Return to Home
Alberta GasMonthly Avg.
CAD/GJ
Market Data by TradingView

    Report Error







    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    BOE Network
    © 2023 Stack Technologies Ltd.