Deep Freeze Forces US LNG Exporters to Cancel Cargoes

The recent freeze across the USGC has disrupted the scheduled exports of LNG, according to Bloomberg.

• Cameron cancelled at least one cargo, while several other deliveries across Cameron and Corpus Christi were also delayed.
• Meanwhile, Freeport LNG briefly brought down and restarted one of its three production units, meanwhile weather disrupted the loading schedule.
• Combined feedgas flows into US LNG facilities fell to as low as 8.207 bcf/d Jan. 16, the lowest since Dec. 2022.
• They have since rebounded to 13.43 bcf/d but remain below the near-record 15.03 bcf/d levels seen before the freeze.
• The export disruptions are likely to be short-lived, with warmer weather expected next week.
• High gas inventories globally will also easily absorb the disruption, unlikely to move prices.