US LNG exports to rise by year-end even as Freeport restart is partially offset by Cove Point shutdown
The US Government expects higher-than-average Henry Hub natural gas prices as demand remained high and inventories low while shipments from the nation’s LNG export plants would increase by 17 percent in the fourth quarter of 2022 compared with the previous three months as Freeport LNG resumes operations in November and Cove Point LNG has a scheduled closure in October.
US forecasts Henry Hub natural gas spot price of $8.69 per MMBtu while LNG exports rise 22 percent
The US government has forecast average Henry Hub benchmark natural gas spot prices of $8.69 per million British thermal units in the third quarter as LNG exports rise 22 percent in 2002 with Europe being the main destination.
US says its LNG exports will grow rapidly through 2030 and outpace pipelines to Mexico
US natural gas pipeline exports to Mexico and the nation’s global LNG exports are forecast to increase until 2020 and through 2030, pipeline export growth to Mexico slows and LNG exports grow rapidly, according to the latest US government energy report.
US prices and output
Oct 12 (LNGJ) - The latest US government short-term energy outlook said it expected growth in LNG exports and domestic natural gas consumption in 2018 would contribute to a rise in the benchmark Henry Hub natural gas spot price from an annual average of $3.03 per million British thermal units in 2017 to $3.19 per MMBtu in 2018. The report added that the nation’s dry natural gas production would average 73.6 billion cubic feet per day (Bcf/d) in 2017, a 0.8 Bcf/d increase from the 2016 level. Natural gas production in 2018 is forecast to be 4.9 Bcf/d higher than the 2017 level.
