US says the nation’s LNG exports will be lower in the months ahead and points to high gas stocks in Europe
The US said liquefied natural gas exports will be lower over the next few months of 2023 because of high gas stocks in Europe and Freeport LNG being offline while record dry gas production growth has been outpacing demand.
US outlook forecasts higher 2021 natural gas prices because of LNG exports and lower output
The US Government expects LNG exports will average 8.5 billion cubic feet per day for all of 2021compared with 9.8 Bcf per day during January when around 18 to 22 cargoes were lifted each week from the six plants in operation amid high spot prices in North Asia.
Cargo liftings rise as Asia LNG spot price jumps to $9.20 per MMBtu and Brent hits $50 a barrel
Cargo liftings of liquefied natural gas increased worldwide for a fifth week, and likely the highest of 2020, as North Asia spot LNG prices jumped to $9.200 per million British thermal units for February 2021 and North Sea Brent crude oil prices hit the $50 a barrel mark for the first time in 10 months.
