Trinidad and Tobago’s Ministry of Energy said in a statment last week that the United States received only 19 percent of the country’s LNG exports in 2011.
Most of the LNG exports, or 81 percent, was shipped to markets in South America, Europe and Asia.
The advent of shale gas production in the United States of America coupled with the economic slowdown in that country has seen the Henry Hub price collapse to below $3.00 per million British thermal unit (MMbtu) in January 2012.
Henry Hub has traditionally been the main marker for pricing Trinidad and Tobago’s LNG as the USA has been the destination of choice since the start of LNG production in this country in 1999.
In 2005, approximately 89% of the country’s LNG exports went to the USA and the Henry Hub price at that time averaged US$8.64 per MMBtu.
[mappress]
LNG World News Staff, January 25, 2012; Image: Atlantic LNG