Natural gas spot prices at the Henry Hub in the United States ended five weeks of increases, falling by 18¢ from last Wednesday, the Energy Information Administration said in its weekly report.
The prices have dropped from $2.93/MMBtu last Wednesday to $2.75/MMBtu on Wednesday this week, the EIA said.
At the New York Mercantile Exchange (Nymex), the August 2016 contract also declined, falling from $2.863/MMBtu last Wednesday to $2.786/MMBtu on the same day this week, according to the EIA.
“Net injections to working gas totaled 39 billion cubic feet (Bcf) for the week ending July 1. Working gas stocks are 3,179 Bcf, which is 20% above the year-ago level and 23% above the five-year (2011-15) average for this week,” the EIA said.
U.S. LNG exports
The natural gas pipeline flows to Cheniere’s Sabine Pass liquefaction and export terminal averaged 0.66 Bcf/d, 48% higher than last week, according to the EIA.
“One vessel (LNG-carrying capacity 3.0 Bcf) departed the Sabine Pass terminal on July 1,” the agency said.
As previously reported by LNG World News, the 138,000-cbm Sestao Knutsen departed from Sabine pass last week and is expected to arrive at Spain’s Mugardos LNG terminal located at the port of Ferrol around July 22.
This would be the second ever US LNG cargo produced from shale gas to reach Europe.