U.S. LNG exports hit record high in January

Cheniere’s Sabine Pass liquefaction plant in Louisiana exported fifteen LNG cargoes in January, setting a new record for U.S. monthly exports, the Energy information Agency confirmed in its weekly natural gas report issued on Thursday.

The Sabine Pass facility, first of its kind to ship U.S. shale gas overseas, started exporting LNG in February last year and has since then exported more than 65 cargoes worldwide.

Previously, Sabine Pass monthly exports were the highest in December, with twelve cargoes leaving the facility. These cargoes went mostly to Asia, where cold winter temperatures increased residential heating demand and rising spot LNG prices led to larger price spreads between the Atlantic and Pacific basins.

According to the agency, natural gas pipeline deliveries to the Sabine Pass liquefaction terminal averaged 1.8 Bcf/d for the week ending February 1, unchanged from the previous week.

“Four vessels (combined LNG-carrying capacity of 14.1 Bcf) departed Sabine Pass last week,” EIA said in the report.

Henry Hub drops

Natural gas spot prices in the U.S. fell at most locations in the week ending February 1 with the Henry Hub price dropping 13¢ from last Wednesday.

The Henry Hub spot price decreased from $3.25/MMBtu last Wednesday to $3.12/MMBtu two days ago, EIA said in its report.

The agency noted that temperatures moderated throughout the report week almost everywhere except for in the Northeast. As a result, prices generally fell in the report week.

At the Chicago Citygate, prices decreased 14¢ to $3.08/MMBtu this Wednesday while prices at PG&E Citygate in Northern California fell 16¢, to $3.50/MMBtu.

LNG World News Staff