Latest news with #FreeportLNG
Mint
01-08-2025
- Business
- Mint
US LNG exports surge in July, LSEG data show
US exports in July close to record Exports to Latin America increase LNG prices in both Asia and Europe fall in July HOUSTON, - Exports of U.S. liquefied natural gas jumped to 9.1 million metric tons in July, marking a sharp increase from June as some plants exited maintenance activities and Venture Global's Plaquemines facility ramped up production, preliminary data from financial firm LSEG showed. The U.S. is the world's largest exporter of LNG and July's output was its third highest on record. This year the U.S. has seen three of its highest ever monthly LNG production figures, according to LSEG data. U.S. LNG shipments could have been higher had its third- largest export facility, Freeport LNG, not experienced several unplanned outages, reporting seven power outages at its plants to the Texas Commission on Environmental Quality during the month of July. Its output fell in July to 1.3 million metric tons from 1.4 MT in June, LSEG data showed. The U.S. could double its LNG export capacity by 2030, based on projects already under construction and expected to get the financial greenlight as the industry builds momentum following U.S. President Donald's Trump's vow to bolster the country's energy industry. This week Venture Global gave a positive final investment decision for its massive 28 million metric tons per annum CP2 facility in Louisiana. In July, Plaquemines, also in Louisiana, exported 1.4 MT of the superchilled gas, compared to 1.2 MT in June, helping the U.S. get to 9.1 MT in July, compared to 8.4 MT in June, LSEG data showed. GAS PRICES FALL IN EUROPE AND ASIA European gas prices fell in July to $11.56 per million British thermal unit from $12.38 per mmBtu in June at the European benchmark Title Transfer Facility in the Netherlands, according to LSEG data. Even so, the softer prices were not enough to deter U.S. LNG exports to Europe, which remained the favored destination. Some 5.25 MT of LNG, or just under 58% of July's total, headed to Europe during July, slightly lower than the 5.53 MT, or 66%, sold in June, LSEG data showed. U.S. exports to Europe could increase in the coming years following a trade deal earlier this week in which the European Union promised to buy $750 billion of U.S. energy over a five-year period. In July, gas prices were also lower in Asia, as the benchmark Japan Korea Marker fell to $12.18 per mmBtu from $12.90 per mmBtu in June. Exports to Asia rose slightly during the month to 1.8 MT, or 20%, of U.S. LNG exports in July, compared to 1.56 MT, or 19%, in June as demand for energy for cooling grew, according to LSEG data. "After lackluster Asian LNG demand for much of 2025 so far, hotter July weather drove some improvement," bankers from Morgan Stanley told their clients in a report on Wednesday. US SELLS MORE LNG CLOSER TO HOME U.S. LNG exports to South America grew in July as the continent faced colder-than-normal seasonal weather. The U.S. sold 1.03 MT, or 11% of its total LNG exports, to Latin America, with cargoes going to Brazil, Argentina, Colombia and Chile. Cargoes were also sold to several Caribbean countries, including Jamaica, Puerto Rico and the Dominican Republic. Egypt continued to import U.S. LNG cargoes, buying eight in July, totaling .59 MT of the superchilled gas. There were also six cargoes with .43 MT of LNG that left U.S. ports in July with no clear destination, signaling they were available for orders. In July, Canada saw its first LNG shipment from a major plant, with the start-up of LNG Canada in Kitimat, British Columbia. That facility is the first North American plant with direct access to the Pacific Ocean and a shorter sail time to Asia. LNG Canada exported four cargoes, or .29 MT of LNG, during July, according to LSEG ship tracking data. This article was generated from an automated news agency feed without modifications to text.
Yahoo
01-07-2025
- Business
- Yahoo
US LNG exports fall in June due to plant maintenance
By Curtis Williams HOUSTON (Reuters) -U.S. liquefied natural gas exports fell to their second lowest monthly level for the year in June, as maintenance work at some of the country's largest export facilities hurt output, according to preliminary data from financial firm LSEG. The United States, the world's top exporter of LNG, sold 8.4 million metric tons of the superchilled gas during the month, down from 8.9 MT in May and well below April's record of 9.3 MT, LSEG data showed. The reduction in LNG exports was primarily due to seasonal maintenance, including at Cheniere's 4.5 billion cubic feet per day Sabine Pass facility in Louisiana and its 2.4 bcfd Corpus Christi plant in Texas. Cameron LNG's 2.0 bcfd plant in Louisiana also underwent maintenance, and there were unplanned unit outages at Freeport LNG's 2.1-bcfd plant in Texas, according to LSEG data. Maintenance at both Sabine Pass and Cameron LNG appeared to have ended by the last week of June, with the plants producing close to capacity, according to LSEG data. EUROPE DOMINATES PURCHASES Slower economic growth in Asia due to ongoing trade wars with the U.S. continues to impact demand for LNG with a collective 16 million metric ton drop in imports during the first half of the year compared to the same months in 2024, according to Reuters data. In June, gas prices were slightly higher in Asia than in Europe with the Asian benchmark Japan Korea Marker rising to $12.90 per mmBtu, up from $11.83 in May. This compares with the European benchmark Title Transfer Facility in the Netherlands, which rose to $12.38 per mmBtu in June, from $11.68 in May. Even with a slight arbitrage favoring Asian exports, U.S. producers exported 5.53 MT or 66% of their LNG to Europe in June, below the 6.05 MT or 68% that went to Europe in May, LSEG data showed. Exports to Asia remained relatively low with 1.56 MT or 19% sold to that part of the world in June compared 1.88 MT or 21% of total exports in May, LSEG data showed. With Train 1 of LNG Canada's 14 mtpa plant exporting its first cargo on the last day of June, it is likely to compete favorably with U.S. LNG exports from the Gulf Coast due to its shorter sailing time to Asia. US EXPORTS MORE LNG CLOSER TO HOME With colder weather in some South American countries and problems securing enough domestic gas in Argentina, the U.S. stepped up its exports to Latin America with 0.81 MT or 10% of all cargoes going to the region. This compares to 0.66 MT or just over 7% in May, LSEG data shows. Argentina alone bought a combined 340,000 tons of LNG in June with the U.S. supplying one third of that, and Trinidad and Tobago supplying 230,000 tons, according to LSEG data. U.S. LNG exporters continued to show versatility with exports to Egypt, Namibia and Bahrain in June, LSEG data showed. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
01-07-2025
- Business
- Reuters
US LNG exports fall in June due to plant maintenance
HOUSTON, July 1 (Reuters) - U.S. liquefied natural gas exports fell to their second lowest monthly level for the year in June, as maintenance work at some of the country's largest export facilities hurt output, according to preliminary data from financial firm LSEG. The United States, the world's top exporter of LNG, sold 8.4 million metric tons of the superchilled gas during the month, down from 8.9 MT in May and well below April's record of 9.3 MT, LSEG data showed. The reduction in LNG exports was primarily due to seasonal maintenance, including at Cheniere's 4.5 billion cubic feet per day Sabine Pass facility in Louisiana and its 2.4 bcfd Corpus Christi plant in Texas. Cameron LNG's 2.0 bcfd plant in Louisiana also underwent maintenance, and there were unplanned unit outages at Freeport LNG's 2.1-bcfd plant in Texas, according to LSEG data. Maintenance at both Sabine Pass and Cameron LNG appeared to have ended by the last week of June, with the plants producing close to capacity, according to LSEG data. Slower economic growth in Asia due to ongoing trade wars with the U.S. continues to impact demand for LNG with a collective 16 million metric ton drop in imports during the first half of the year compared to the same months in 2024, according to Reuters data. In June, gas prices were slightly higher in Asia than in Europe with the Asian benchmark Japan Korea Marker rising to $12.90 per mmBtu, up from $11.83 in May. This compares with the European benchmark Title Transfer Facility in the Netherlands, which rose to $12.38 per mmBtu in June, from $11.68 in May. Even with a slight arbitrage favoring Asian exports, U.S. producers exported 5.53 MT or 66% of their LNG to Europe in June, below the 6.05 MT or 68% that went to Europe in May, LSEG data showed. Exports to Asia remained relatively low with 1.56 MT or 19% sold to that part of the world in June compared 1.88 MT or 21% of total exports in May, LSEG data showed. With Train 1 of LNG Canada's 14 mtpa plant exporting its first cargo on the last day of June, it is likely to compete favorably with U.S. LNG exports from the Gulf Coast due to its shorter sailing time to Asia. With colder weather in some South American countries and problems securing enough domestic gas in Argentina, the U.S. stepped up its exports to Latin America with 0.81 MT or 10% of all cargoes going to the region. This compares to 0.66 MT or just over 7% in May, LSEG data shows. Argentina alone bought a combined 340,000 tons of LNG in June with the U.S. supplying one third of that, and Trinidad and Tobago supplying 230,000 tons, according to LSEG data. U.S. LNG exporters continued to show versatility with exports to Egypt, Namibia and Bahrain in June, LSEG data showed.
Reuters
02-06-2025
- Business
- Reuters
US LNG output declines in May from April's record
HOUSTON, June 2 (Reuters) - U.S. liquefied natural gas output fell in May due to plant outages and maintenance at the country's largest export facility, preliminary LSEG ship tracking data show. The U.S. is the world's largest LNG exporter and monthly changes in production can impact global LNG prices. In May the U.S. exported 8.9 million metric tons of LNG, down from a record 9.3 MT in April, according to LSEG data. During May all U.S. plants experienced short periods of lower output when compared to April, the LSEG data showed, and Cheniere Energy (LNG.N), opens new tab confirmed that its 30 MT per annum (mtpa) Sabine Pass facility in Texas, the biggest in the nation, was undergoing maintenance work. Gas flows to Sabine have held at a 23-month low of around 3.1 bcfd since May 31. That compares with an average of 4.3 bcfd over the prior seven days. Freeport LNG, the U.S.' third largest LNG producer, also reported several outages. Europe remained the favored market for U.S. LNG exports as traders tried to take advantage of higher prices in Europe for the superchilled gas when compared to Asia. Gas prices at the European benchmark Title Transfer Facility (TTF) in the Netherlands rose to $11.68 per million British thermal units (mmBtu) in May, up from $11.48 in April and an average of $10.12 in May 2024. Of the 8.9 MT of LNG exported from the U.S., 6.05 MT or 68% went to Europe, the same percentage as in April, LSEG data showed. Exports to Asia remained relatively low with 1.88 MT or 21% of total exports, compared to 2.05 MT or 22% of total exports in April, LSEG data showed. Stronger domestic production, pipeline imports, renewable generation and weak industrial demand have kept Chinese demand muted and China, the world's largest LNG user, continues to resell U.S. LNG to avoid paying retaliatory tariffs as the trade dispute continues between the world's two largest economies. Prices at the Asian benchmark Japan Korea Marker (JKM) slid to $11.83 per mmBtu in May, down from $12.23 in April but up from an average of $11.10 in May 2024. Exports to Latin America also fell with .66 MT sold in May compared to .68 MT in April. Egypt bought 3 cargoes for a total of .22 MT, while Bahrain bought one cargo for .07 MT. One cargo also left Cheniere's Sabine Pass plant on May 23, but as of Monday was in the Caribbean Sea with no clear destination, LSEG ship tracking data showed. The United States is poised to remain the world's largest LNG exporter with an expected 6 projects getting the financial go ahead in 2025, adding another 90 million metric tons per annum (mtpa) of LNG to the U.S. output by 2030.
Reuters
28-05-2025
- Business
- Reuters
Natural gas flows to Freeport LNG export plant in Texas drop Wednesday, sources say
HOUSTON, May 28 (Reuters) - Natural gas flows to a Freeport liquefied natural gas (LNG) export plant in Texas declined on Wednesday, likely leading to a reduction in LNG output, two sources said. Freeport is the third largest LNG export facility in the U.S. and has helped the country remain the world's largest exporter of the superchilled gas. It is one of the most closely watched LNG export plants in the world because the start and stop of its operations can often cause price swings in global gas markets. It has a capacity to consume 2.2 billion cubic feet of gas per day and can produce 16.3 million metric tons per annum (mtpa) of LNG. When flows to Freeport drop, gas prices in the U.S. usually decline due to lower demand from the plant for the fuel. Meanwhile, prices in Europe usually increase due to a drop in LNG supplies available to global markets from the plant. Freeport declined to comment. Last Friday, the company experienced a brief power outage to one of its plants, commonly called trains, and had to take the plant out of service to cool down before eventually restarting it, according to a filing with the Texas Commission on Environmental Quality (TCEQ). Freeport reported last Friday's trip was caused by the plant's compressor system, according to the TCEQ filing.
