EIA: Henry Hub price drops, three Sabine Pass LNG cargoes shipped

Natural gas spot prices in the U.S. dropped in most locations in the week ending February 8, with the Henry Hub price slipping 7¢ from last Wednesday, according to the weekly report by the Energy Information Administration.

The Henry Hub spot price dropped from $3.12/MMBtu last Wednesday to $3.05/MMBtu two days ago, EIA said in its report published on Thursday.

Spot prices at the Chicago Citygate decreased 6¢ from $3.08/MMBtu last Wednesday to $3.02/MMBtu two days ago while prices at PG&E Citygate in Northern California lost 11¢, down from $3.50/MMBtu last Wednesday to $3.39/MMBtu two days ago.

Sabine Pass exports

Natural gas pipeline flows to the Cheniere’s Sabine Pass liquefaction terminal averaged 2.1 Bcf/d for the report week, 20% higher than in the previous week, EIA said.

“Three vessels (combined LNG-carrying capacity of 10.8 Bcf) departed Sabine Pass last week,” the agency noted in the report.

To remind, the Sabine Pass plant in Louisiana exported fifteen LNG cargoes in January, setting a new record for U.S. monthly exports.

Previously, Sabine Pass monthly exports were the highest in December, with twelve cargoes leaving the facility.

Cheniere started exports from the Sabine Pass liquefaction plant, currently the only such facility to ship U.S. shale gas overseas, in February last year.

Since then, around 70 cargoes carrying U.S. LNG have been shipped to various locations worldwide.

LNG World News Staff