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US LNG Exports Recovered in May on Freeport Return and Asia Demand

LNG

US LNG exports rebounded in May as the Freeport LNG export terminal returned to full production on May 10 and with an increase in supply to Asia, according to preliminary LSEG data. Feedgas flows to export plants rose to 12.9bcf/d in May from 11.9bcf/d in April.

  • An extended outage at Freeport since January and maintenance at some export terminals resulted in a decline in overall exports for four consecutive months through April.
  • Exports from the largest global exporter rose to 7.60 million metric tons in May from 6.19m tons in April and compared to 7.61m tons in March.
  • U.S. exports to Asia accounted for 3.15m tons or 41% of total exports up from 2.02m tons, or 32.6% in April amid higher spot prices in Asia as hot weather boosted demand. Most vessels took the long route round the Cape of Good Hope.
  • Exports to Europe dipped to 3.18m tons, or a 42% share, down from 3.25m tons, or 52.5% of the total in April, and 4.31m tons or 57%, in March.
  • U.S. LNG exports to the Americas rose to 940k tons, or 12% of total sales, up from 850k tons in April.
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