Henry Hub price up, three Sabine Pass LNG cargoes shipped

Sabine Pass cargo loading (Image: Cheniere)

Natural gas spot prices in the U.S. increased in most locations in the week ending March 15 on the back of colder weather.

The Henry Hub price rose 31¢ from $2.69/MMBtu last Wednesday to $3/MMBtu two days ago, according to the weekly report by the Energy Information Administration issued on Thursday.

At the Chicago Citygate, prices increased 13¢ from $2.80/MMBtu last Wednesday to $2.93/MMBtu two days ago.

“Prices in California were flatter than in areas of the country affected by unseasonably cold temperatures and a late-winter snowstorm,” EIA said.

U.S. consumption of natural gas rose by 15% compared with the previous report week, according to data from PointLogic.

Power burn climbed by 12% week over week, while industrial sector consumption increased by 4%.

Natural gas exports to Mexico were the same as last week, averaging 3.9 Bcf/d.

Sabine Pass exports three cargoes

Natural gas pipeline flows to the Cheniere’s Sabine Pass liquefaction terminal in Louisiana averaged 2.0 Bcf/d for the report week, 73%hihger than in the previous week, EIA said.

“In the beginning of March (March 1–9), the flows to the terminal averaged 1.2 Bcf/d, 40% lower than the February average of 2.0 Bcf/d because of routine commissioning-related work for Train 3 to enhance the train’s operational performance,” EIA noted in its report.

Three vessels with a combined LNG-carrying capacity of 10.5 Bcf departed Sabine Pass last week.

Cheniere started exports from the Sabine Pass liquefaction plant, currently the only such facility to ship U.S. shale gas overseas, in February last year.

Exports from the plant continued to remain high in February following record high levels in the previous two months.

The Sabine Pass terminal exported twelve LNG cargoes in December and a record fifteen in January, and February, each.

 

LNG World News Staff

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