The Energy Information Administration reported that the US liquefied natural gas exports have dropped considerably in the week ending June 10 in comparison to the week before.
According to the Administration, three US terminals dispatched five LNG cargoes during the week June 4-June 10. Also, the overall capacity of the LNG vessels carrying these cargoes is 18 billion cubic feet.
In the meantime, EIA in its weekly export volume is the lowest since the week of June 8 – June 14, 2017.
Cheniere’s Sabine Pass plant in Louisiana and the Sempra-led Cameron LNG facility shipped two cargoes, each, while Dominion’s Cove Point plant in Maryland dispatched one shipment during the week under review. Additionally, the Henry Hub spot price decreased from $1.77 per million British thermal units last Wednesday to $1.70/MMBtu recorded.
Overall, the pandemic affected the demand for natural gas used for heating, electricity and industrial use all over the globe.
Recently, Norwegian research firm Rystad Energy estimated that oil and gas companies currently have assets for sale with recoverable reserves of more than 5 billion barrels of liquids and 7.5 billion barrels of oil equivalent (boe) of natural gas.
Leave a Reply