LNG: US LNG Cargo Exports Recover to 29 in Week to Feb. 5

The number of US LNG export cargoes continue to recover up to 29 in the week to Feb. 5 from 24 the week prior, according to the EIA. Total capacity of the vessels increased to 110bcf from 90bcf.

• Average natural gas deliveries to US LNG export terminals increased 1.5bcf/d w/w to 15.2bcf/d, according to S&P Global Commodity Insights.
• Natural gas deliveries to terminals in South Louisiana increased 2.9% (0.3bcf/d) to 9.5bcf/d and deliveries to South Texas increased by 35.5% (1.2bcf/d) to 4.4bcf/d. Deliveries outside the USGC increased 7% (0.1bcf/d) to 1.2bcf/d.
• US LNG export terminal feedgas is at 14.45bcf/d today compared to a record high of 15.1bcf/d on Jan. 17, Bloomberg shows, with a recovery in Sabine Pass supply and higher Plaquemines flows this week set against a dip in Corpus Christi supply.
• A shift in cargoes from Asia to Europe has driven North Asian spot LNG prices to the highest since Nov. 2023, towards $16/mmbtu, Bloomberg said. So far this year, demand in Europe has been supported by falling storage and the loss of Russian pipeline supplies transit via Ukraine while North Asia spot demand remains relatively subdued.
  • TTF MAR 25 up 1.5% at 55.3€/MWh
  • NBP MAR 25 up 1.2% at 134.81p/th
  • JKM Mar 25 up 1.8% at 15.72$/mmbtu
  • JKM-TTF Mar 25 up 0$/mmbtu at -1.12$/mmbtu
  • US Natgas MAR 25 down 0.9% at 3.38$/mmbtu