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Yahoo
a day ago
- 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
a day ago
- 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.
Yahoo
21-05-2025
- Business
- Yahoo
FREEPORT LNG RESTORES SERVICE TO ITS THIRD LNG STORAGE TANK
HOUSTON, May 21, 2025 /PRNewswire/ -- Freeport LNG Development, L.P. (Freeport LNG) today announced that the third of the company's three LNG storage tanks has been returned to service with the approval of the Pipeline and Hazardous Materials Safety Administration and the Federal Energy Regulatory Commission. The storage tank had been offline for nearly three years after LNG piping to the tank was damaged in the June 8, 2022 incident at Freeport LNG's natural gas liquefaction and LNG export facility. Freeport LNG has worked collaboratively with local, state and federal regulators and other key stakeholders in every aspect of the company's incident recovery effort. Returning the third LNG storage tank safely back into service is the final phase of the company's recovery and restoration work that followed the incident. "Today is a significant milestone for Freeport LNG as it marks the completion of the physical restoration of our facility after the June 8, 2022 incident. Getting to this point would not have been possible without the hard work and diligence of our employees and contractors," said Michael Smith, Freeport LNG Founder, Chairman and CEO. "Freeport LNG has emerged from this incident as a more resilient company, with an enhanced safety focus based largely on process safety management initiatives implemented across the organization after the June 8th incident. While the physical restoration is complete, our efforts in continuous improvement in process safety and operational excellence will continue each day. Safety remains Freeport LNG's top priority. I couldn't be prouder of our employees and their hard work, and I thank them for all of their efforts and dedication." Since the incident, Freeport LNG has implemented significant improvements to its organization, doubling the size of its operations and maintenance workforce and strengthening key leadership positions across the company, including at President, CFO and COO, and in the areas of Operations, Maintenance, Engineering, Process Safety, Environmental Health and Safety, Security, Marine Operations, Business Innovation and Treasury. By strengthening Freeport LNG's organizational muscle and demanding high performance in all aspects of its business, these organizational improvements are delivering very positive early returns, including driving safe, reliable and sustained operational performance and increasing LNG throughput, all while maintaining a commitment to safety discipline that underpins the company's achievement of an industry-leading safety record. Simultaneously with the company's June 8th recovery efforts, the above organizational changes and its improvements in process safety and reliable operations, the company completed a debottlenecking project that increased its LNG production capacity. Over the past year, despite operating with only two of its three LNG storage tanks in service, Freeport LNG has safely achieved record LNG production rates, most recently achieving an all-time company record LNG production month in April 2025. ABOUT FREEPORT LNG Freeport LNG is an LNG export company headquartered in Houston, Texas. The company's three train, 17 MTPA liquefaction facility is the largest all-electric drive motor plant of its kind in the world, making it the most environmentally sustainable site of its kind. The facility's electric drive motors reduce carbon emissions by over 90% relative to gas turbine-driven liquefaction facilities. Freeport plans to expand by adding a fourth liquefaction train, which has received all regulatory approvals for construction. Freeport was formed in 2002 to develop, own and operate an LNG terminal on Quintana Island, near Freeport, Texas. The terminal started LNG import operations in June 2008 and began LNG export operations in 2019. Further information can be found on Freeport's website at View original content to download multimedia: SOURCE Freeport LNG 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
