EIA: Henry Hub price rises

Natural gas spot prices in the United States rose at most locations in the week ending August 24, the Energy Information Administration said in its weekly report.

The Henry Hub spot price rose 6¢ from $2.71/MMBtu last Wednesday to $2.77/MMBtu two days ago, the EIA said in its report issued on Thursday.

“Price increases near the end of the report week may have been the result of forecasts for warmer weather in the coming days.”

At the Chicago Citygate, prices increased 10¢ from $2.66/MMBtu last Wednesday to $2.76/MMBtu on August 24. Similarly, prices at PG&E Citygate in California gained 10¢, going from $3.15/MMBtu last Wednesday to $3.25/MMBtu this Wednesday, the EIA said.

Gulf Coast’s first ethane shipment to Europe

The EIA noted in its report that the first ethane shipment out of Enterprise Products Partners’ (EPP) new export terminal in Morgan’s Point, Texas, is preparing to set sail for Norway.

The terminal, located on the Houston Ship Channel, is the second to open in the United States, and has an export capacity of up to 200,000 barrels of liquefied ethane per day, of which about 90% is contracted.

The United States’ first ethane export terminal, at Marcus Hook, Pennsylvania, has been shipping ethane cargoes since March of this year.

U.S. LNG exports

The natural gas pipeline flows to Cheniere’ Sabine Pass liquefaction terminal averaged 0.7 Bcf/d in the week ending August 24, 43% lower than flows last week. according to the EIA.

Three vessels departed the Sabine Pass terminal on August 18, 20, and 23 filled with 10 Bcf equivalent of LNG that was liquefied and stored at the terminal previously, the EIA said.

 

 

 

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