Liquified natural gas (LNG) exports from the U.S. decreased this week together with Henry Hub prices, the Energy Information Administration (EIA) showed in its weekly report.
According to the EIA’s latest Short-Term Energy Outlook, U.S. LNG exports decreased for the period between 7 October and 13 October 2021.
Sixteen LNG vessels with a combined LNG-carrying capacity of 58 billion cubic feet departed the United States. Six ships departed from Sabine Pass, four from Freeport, and three each from Cameron and Corpus Christi.
The Henry Hub spot price fell from $5.95 per million British thermal units (MMBtu) last Wednesday to $5.45/MMBtu this week.
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Golar secures a 1-year fixed-time charter for LNG carrier Business Developments & Projects Also, EIA expects Henry Hub prices to decrease early next year, as production growth outpaces growth in LNG exports, and will average $4.01/MMBtu in 2022.
However, in the second quarter of 2022, it forecast decreasing Henry Hub prices as anticipated growth in domestic natural gas production begins to outpace growth in U.S. liquified natural gas exports.
Natural gas deliveries to U.S. LNG export facilities averaged 10.5 Bcf/d, or 0.5 Bcf/d higher than last week.