EIA: US LNG exports climb week over week

Energy Information Administration (EIA) weekly report shows that LNG exports from the U.S. climbed this week, with Henry Hub prices going down.

Reporting on weekly LNG exports, EIA stated that 22 LNG vessels departed from the United States from 28 October to 3 November 2021.

Six of the ships departed from Sabine Pass, five each from Corpus Christi and Freeport, four from Cameron, and one each from Cove Point and Elba Island. They held a combined LNG-carrying capacity of 80 billion cubic feet.

Also, LNG consumption in the US increases significantly week over week, led primarily by an increase in the residential and commercial sector. Thus,  total natural gas demand rose by 5.7 per cent (or 5.2 Bcf/d).

The Henry Hub spot price fell from $5.86 per million British thermal units (MMBtu) last Wednesday to $5.59/MMBtu this week.

Natural gas deliveries to U.S. LNG export facilities averaged 10.9 Bcf/d, or about 0.3 Bcf/d higher than last week.