US weekly exports of LNG drop to 10 cargoes
For the week that ending June 3, the United States shipped fewer liquefied natural gas cargoes compared with the week before.
The agency said five U.S. terminals shipped ten LNG cargoes between May 28 and June 3, in its weekly gas natural gas report.
The LNG vessels carrying such cargoes have a gross size of 36 billion cubic feet.
This compares to twelve LNG vessels with 44 billion cubic feet of combined capacity the week before.
Cheniere's Sabine Pass plant in Louisiana shipped four cargoes while in the week under review two additional cargoes left the Corpus Christi terminal in Texas for the company.
The spot price for the Henry Hub rose last Wednesday from $1.72 per million British thermal units to $1.77 / MMBtu recorded this Wednesday.
During the week under review, deliveries of natural gas to US LNG export plants eased to 5.3 billion cubic feet from the 5.9 Bcf / d recorded the week prior.
EIA said the rates of feed gas to LNG export facilities and export volumes reflect a decrease in seasonal demand as well as a reduction in demand associated with coronavirus in global markets.
This has resulted in historically low global spot prices for LNG reducing the economic viability of US LNG exports.
Maritime Business World