EIA: Henry Hub price drops

Natural gas spot prices in the United States were mixed in the week ending November 2 with the Henry Hub price dropping 41¢ from last Wednesday, according to the weekly report by the Energy Information Administration.

The Henry Hub spot price dropped from $2.68/MMBtu last Wednesday to $2.27/MMBtu two days ago, after reaching a high of $2.80/MMBtu on Monday, the EIA said in its report issued on Thursday.

At the Chicago Citygate, prices decreased 65¢ from $2.82/MMBtu last Wednesday to $2.17/MMBtu two days ago while prices at PG&E Citygate in Northern California fell 49¢ to $2.58/MMBtu.

According to data from PointLogic, the average total supply of natural gas remained the same as the previous report week, averaging 77.2 Bcf/d. Dry natural gas production remained constant week over week, averaging 71 Bcf/d. Average net imports from Canada decreased by 5% from last week, falling by an average of 0.3 Bcf/d.

Sabine Pass exports

Natural gas pipeline flows to the Cheniere’s Sabine Pass liquefaction terminal were relatively high, averaging 1.5 Bcf/d on Wednesday and Tuesday and 1.2 Bcf/d over the report week, EIA said in the report.

“One vessel (LNG-carrying capacity 3.4 Bcf) departed the terminal on November 1 and one vessel (LNG-carrying capacity 3.2 Bcf) is currently loading at the terminal.”

The Sabine Pass liquefaction facility, first of its kind to export U.S. shale gas, started shipping the chilled fuel from Train 1 in February this year.

Since then, up to 36 cargoes of the chilled fuel have been shipped across the globe, according to Cheniere.

The Houston-based LNG exporting company is developing and constructing up to six liquefaction trains at Sabine Pass, each with a nominal production capacity of approximately 4.5 million tons per annum of LNG.

 

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