• 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 rise only slightly as plant outage limits output

September 1, 20225:30 AM Reuters0 Comments

LNG Tanker

U.S. shipments of liquefied natural gas (LNG) rose only slightly last month, showing they continue to be constrained by a June outage at the second largest U.S. exporter, Refinitiv Eikon data showed on Thursday.

Freeport LNG’s shutdown following an explosion has cut monthly U.S. exports by about four cargoes, or 1.6 million tonnes. The company last week delayed a restart at the Quintana, Texas plant – originally planned for October – aiming to reach 85% of its full 15 million tonnes per annum capacity in late November, with full operations scheduled for March.

The export limits have contributed to sky-high global prices amid strong demand and a temporary halt of Russian gas shipments to Germany that began Aug. 31. LNG at the Dutch trading hub sold this week at around $77 per million British thermal units (mmBtu), more than double the price from February.

The United States exported 6.25 million tonnes of LNG last month, slightly above the 6.16 million tonnes of July but still below the pre-explosion levels, according to preliminary tanker tracking data on Eikon.

Exports to Europe, Latin America and the Caribbean declined in August, the data showed. Sales to Asia inched higher amid stronger demand in South Korea and Japan, which pushed Asian spot LNG prices to a record last week.

In Europe, gas markets in recent days took “a sigh of relief” after aggressive purchasing of LNG cargos and piped gas, which replenished stocks faster than the European Union’s targets, researcher Rystad Energy said in a note to clients. “Europe is in full bunkering mode and taking no chances with Russian supplies.”

But the United States, where natural gas prices at the Henry Hub have continued rising to touch nearly $10 per mmBtu in intraday trading, has been unable to keep ramping up LNG exports since the Freeport incident. U.S. prices settled at $9.127 per mmBtu on Wednesday.

Fewer shipments from the United States, which in the first half of this year became the world’s largest LNG exporter, have hit the Panama Canal, where LNG traffic fell 30% in the nine months through July, the waterway’s authority said last month.

LNG

Follow BOE Report
  • Facebook
  • Twitter
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • U.S. natgas futures gain 3% on colder forecasts ahead of storage report
  • Oil slips as Russian oil products ban looms
  • Treeline and Tourmaline achieve industry first utilizing DownForce Technology ®
  • Enbridge reports unplanned outage on T-south section of British Columbia natgas line
  • ConocoPhillips reports fourth-quarter, full-year 2022 results and 176% preliminary reserve replacement ratio; announces 2023 guidance and planned return of capital of $11 billion; declares quarterly dividend and variable return of cash distribution

Return to Home
Alberta Gas
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.