Brazil and China: Top destinations for US LNG despite rising prices

Thursday, 07 October 2021
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Despite rising prices for the six US liquefaction and export plants, China and Brazil remain the top destinations for US LNG shipments. Data from the Department of Energy (DoE) shows 97 cargoes were delivered in July at an average price of $6.96 per MMBtu, up from $6.32 per MMBtu in the previous month.

The top five countries of destination, representing 56.3 percent of total US LNG exports in July 2021, were China (42.2 Bcf — 12 cargoes), Brazil (39.6 Bcf — 12 cargoes), South Korea (39.3 Bcf — 10 cargoes), Argentina (25.1 bcf — nine cargoes) and Japan (24.9 Bcf — seven cargoes).

In terms of exports, The Sabine Pass plant remained the volume leader in July 2021 with five Trains on stream and supplying 29 cargoes, followed by Freeport with 21, Corpus Christi 21, Cameron LNG 17, Cove Point seven and Elba Island two.

Shipments from the Cameron plant at Hackberry in Louisiana cost the most for July 2021 at an average $7.28 per MMBtu versus $6.92 in June 2021 and for the year-to-date the Cameron shipments fetched an average of $6.75 per MMBtu from the point of export.

The average prices for each of the five other plants (from the export point) from highest to lowest in July 2021 were: Freeport LNG (Texas) $7.23 per MMBtu ($6.38, June); Cove Point (Maryland) $7.20 per MMBtu ($6.76, June); Corpus Christi (Texas) $7.04 per MMBtu ($6.30, June); Elba Island in Georgia $6.57 per MMBtu ($5.876 June); and Sabine Pass (Louisiana) $6.54 ($5.98, June).

Notable cargoes shipped from the facilities on the Gulf Coast, included 11 mostly split cargoes sent to South America from the Freeport plant on Quintana Island, seven to Argentina and four to Brazil. 

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