LNG

European liquefied natural gas prices declined for a fourth week even as some European Union nations began drawing on record storage levels attained without Russian pipeline gas while North Asian spot cargo prices increased and cargo flows were high to China.

July 10 (LNG) – The US shipped seven LNG cargoes in the past week, according to the weekly natural gas report from the Energy Information Administration. Three cargoes departed from Sempra Energy’s Cameron facility in Louisiana, two from Cheniere Energy’s Sabine Pass plant, also in Louisiana, while one departed from Cheniere’s Corpus Christi facility in Texas and one from the Cove Point plant in Maryland. None were lifted from the Freeport plant in Texas nor from the Elba Island facility in Georgia.

   The EIA also reported that net injections of working gas into storage totaled 56 billion cubic feet for the previous week compared with the five-year average of 68 Bcf and last year's net injections of 83 Bcf during the same week. Working natural gas stocks totaled 3,133 Bcf, which is 454 Bcf more than the five-year average and 685 Bcf more than last year at this time. “The average rate of injections into storage is 15 percent higher than the five-year average so far in the refill season (April through October),” added the EIA.