US weekly LNG exports drop to just five cargoes
US liquefied natural gas exports have dropped considerably in the week ending June 10 when compared to the week before, according to the Energy Information Administration.
The agency said in its weekly gas natural gas report that three US terminals dispatched five LNG cargoes during the week June 4-June 10.
The total capacity of the LNG vessels carrying these cargoes is 18 billion cubic feet.
This compares to ten LNG ships with a combined capacity of 36 billion cubic feet the week before.
Cheniere’s Sabine Pass plant in Louisiana and the Sempra-led Cameron LNG facility shipped two cargoes, each
Dominion’s Cove Point plant in Maryland dispatched one shipment during the week under review.
EIA said this weekly export volume is the lowest since the week of June 8 – June 14, 2017.
The Henry Hub spot price dropped from $1.77 per million British thermal units last Wednesday to $1.70/MMBtu recorded this Wednesday.
Natural gas deliveries to US LNG export plants eased to 4.1 billion cubic feet during the week under review from the 5.3 Bcf/d recorded the week before, EIA data shows.
The effects of the Covid-19 coronavirus pandemic as well as mild weather have heavily affected demand for natural gas used for heating, electricity and industrial use all over the globe.
Recent reports suggest that Asian and European buyers have cancelled dozens of US LNG cargoes as there is no need for the fuel due to a huge fall in demand caused by the pandemic.