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    Russian Federation : US LNG exports up in August


    September 23, 2022 - TendersInfo - News

     

      Export deliveries of liquefied natural gas (LNG) from the US rose slightly in August. However, the shutdown of the second largest US LNG terminal, which began in June, continues to limit the pace of exports.

      This is evidenced by data released on Thursday by Refinitiv Eikon.

      The suspension of the Freeport LNG terminal due to the explosion resulted in a reduction in monthly exports by about 1.6 million tons. Last week, company representatives said that the restart of the terminal, previously scheduled for October, was postponed to a later date. By the end of November, the capacity utilization of the Freeport terminal will reach 85%, and the facility should reach its full capacity in March. The terminal's capacity is 15 million tons per year.

      As Prime notes , restrictions on the pace of LNG exports are helping world prices rise to new record highs in the face of strong demand and a temporary halt in Russian gas supplies to Germany since August 31. Dutch LNG has traded around $77 per MMBtu this week, more than doubling its February levels.

      The US exported 6.25 million tons of LNG in August, up from 6.16 million tons in July, according to Eikon data. The figure is still below the levels observed before the explosion at the Freeport terminal.

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