US LNG data shows price decline after winter peak but with all global demand regions served

Tuesday, 25 May 2021
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The US Department of Energy has just published its latest liquefied natural gas export data with the average overall price for the six plants declining to just over $6.00 per million British thermal units, though shipments were delivered to a total of 27 nations in the reporting month.

The DoE data showed 96 cargoes were delivered in March 2021 versus 65 in February 2021 during the Texas freeze-up when shipments were fewer than the 75 shipment dispatched in March 2020.

US cargo prices in March declined to an average of $6.01 per million per MMBtu compared with $6.27 per MMBtu in February 2021, at the export points, according to the DoE May 2021 LNG report.

The Sabine Pass plant remained the volume leader in March 2021 with its five Trains on stream and supplying 35 cargoes, followed by Corpus Christi and Freeport with 19 each, Cameron LNG with 15, Cove Point seven and Elba Island one.

Overall price

Shipments from the Cove Point plant in Maryland cost the most for March 2021 at $7.09 per MMBtu and for the year-to-date $6.55 per MMBtu. The year-to-date total average for all six plants was $5.71 per MMBtu.

The average prices for each of the five other plants (from the export point) from highest to lowest in March 2021 were: Freeport LNG (Texas) $6.28 per MMBtu ($6.08, Feb), Cameron LNG (Louisiana) $6.25 per MMBtu ($7.86, Feb), Elba Island in Georgia $5.90 per MMBtu ($6.78, Feb), Sabine Pass (Louisiana) $5.77 ($5.66, Feb) and Corpus Christi (Texas) $5.60 per MMBtu ($5.81, Feb).

Notable cargoes shipped from the facilities on the Gulf Coast included three to China from Cheniere’s Sabine Pass and four to the UK.

Asia supplies

The Sabine Pass cargoes to China were delivered on the 174,000 cubic metres capacity carrier “GasLog Gladstone”, the 154,950 cubic metres capacity vessel “GasLog Singapore” and the 173,400 cubic metres capacity “Woodside Charles Allen”.

Cheniere’s Corpus Christi plant in Texas delivered two cargoes to Taiwan on board the 138,060 cubic metres capacity “BW GDF Suez Boston” and the 180,000 cubic metres capacity vessel “Prism Agility”.

Among the shipments from Sempra Energy’s Cameron plant in Louisiana, three were delivered to Japan on the 165,000 cubic metres capacity carrier “Diamond Gas Orchid”, its sister ship the “Diamond Gas Sakura” and the 177,000 Cubic metres capacity vessel, the “Marvel Heron”.

Freeport LNG in Texas had the most varied mix of March cargos sent to Greece, Israel, Croatia, Italy, Spain, Japan, Brazil, Pakistan, South Korea, China and France.

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