U.S. LNG exports hit record high

Cheniere’s Sabine Pass liquefaction plant in Louisiana exported ten LNG cargoes in November, 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 started exporting LNG produced from shale gas in February this year and has since then exported more than 40 cargoes worldwide.

Previously, Sabine Pass monthly exports were the highest in August, with eight cargoes or 26 Bcf of LNG leaving the facility.

According to the EIA, natural gas pipeline flows to Sabine Pass averaged 1.4 Bcf/d in the week ending November 30, down 4 percent as compared to the week before.

“Two vessels (combined LNG-carrying capacity 6.7 Bcf) departed the terminal during last week, and one vessel (LNG-carrying capacity 3.5 Bcf) is currently loading at the terminal.”

U.S. becomes net exporter of natural gas

The U.S. was a net exporter of natural gas for the week ending November 30, the agency said in the report.

This is the first time in more than 60 years that the U.S. has shipped out more natural gas than it brought in.

“For this report week, the United States imported a net average of 4.9 Bcf/d from Canada, and exported a net average of 5.1 Bcf/d as pipeline exports to Mexico and as LNG exports to other countries,” the EIA said.

Henry Hub climbs

Natural gas spot prices in the U.S. rose at most locations in the week ending November 30 with the Henry Hub price rising 55¢ from last Wednesday.

The Henry Hub spot price increased from $2.74/MMBtu last Wednesday to $3.29/MMBtu two days ago, the EIA said in its report.

The agency noted that some market analysts cited forecasts of colder weather and predictions of a larger-than-average storage draw as reasons for the price increases.

At the Chicago Citygate, prices increased 59¢ to $3.29/MMBtu this Wednesday while prices at PG&E Citygate in Northern California gained 41¢, to $3.60/MMBtu.

LNG World News Staff