Wednesday, 2 April 2025
Home Topics Business US LNG exports rebound in August on higher output from Freeport LNG
BusinessEconomyLiquefied Natural GasNewsTrade

US LNG exports rebound in August on higher output from Freeport LNG

101
A child plays at Surfside Beach as France-flagged vessel LNG Adventure departs from Freeport, Texas, bound for the Panama Canal, in Freeport, Texas, U.S. July 28, 2023. REUTERS/Marianna Parraga/ File Photo
A child plays at Surfside Beach as France-flagged vessel LNG Adventure departs from Freeport, Texas, bound for the Panama Canal, in Freeport, Texas, U.S. July 28, 2023. - REUTERS/Marianna Parraga/ File Photo

HOUSTON – Exports of U.S. liquefied natural gas bounced higher in August as output from the country’s second-largest export facility rose following an outage and maintenance activities at other plants wound down, preliminary data from financial firm LSEG showed on Tuesday.

Exports of the superchilled gas rose to 7.48 million metric tons (MT) in August, up from the 6.69 MT in July, which marked the second-lowest monthly exports of the year, the LSEG data showed.

The U.S. last year was the world’s largest LNG exporter.

In August, Freeport LNG at times operated above nameplate capacity as it began to benefit from its debottlenecking work to add output beyond the plant’s 15.3 MTPA capacity following an outage in July.

The Texas company’s operations were offline for a time last month after a shutdown ahead of Hurricane Beryl, which hit the Texas coast near Freeport as a Category 1 hurricane on July 8. The plant remained down for eight days and resumed operations on a phased basis.

U.S LNG producers continued to favor exports to Asia. A heat wave was driving Asian LNG prices while a well-supplied Europe was putting downward pressure on prices on the continent, Masanori Odaka, senior analyst at Rystad Energy, said last month.

In August, 3.19 MT, or just under 43%, was supplied to Asia, a similar percentage but a slightly higher volume compared to the 2.9 MT shipped in July, LSEG ship tracking data showed.

Europe remained the second-favored destination for U.S. exports, with 2.92 MT, or 39%, sold to the continent, surpassing the 36% supplied to the continent in July.

Egypt, which continues to face a hot summer, imported 0.7 MT from the U.S. and Jordan imported 0.08 MT of the superchilled gas in August, LSEG data showed.

Sales of LNG to Latin America were 1.08 MT, or just over 14%. The share was higher than the 11% sold to the region in July, LSEG data show.

There were two cargoes that were out for orders with a total volume of 0.14 MT, shiptracking data showed.

In August, Venture Global LNG’s 20 MTPA Plaquemines LNG facility signaled it was close to startup with the importation of LNG to cool its facility.

When the Louisiana plant is fully operating, it will become the second-largest U.S. export facility and further cement the U.S. as the world’s largest exporter of the superchilled gas.

(Reporting by Curtis Williams in Houston; Editing by Paul Simao)

Related Articles

Lilium burnt through huge sums while trying to develop its jet (AFP)

German flying taxi start-up’s rescue deal collapses

A German flying taxi start-up said on Friday it would halt operations...

FILE PHOTO: U.S. Secretary of the Interior Doug Burgum speaks as he attends a signing ceremony with members of the West Virginia Congressional Delegation at the EPA headquarters in Washington, D.C., U.S., February 18, 2025. REUTERS/Kent Nishimura/File Photo

US energy council chief says power plants to produce 15% more electricity

By Valerie Volcovici WASHINGTON (Reuters) – U.S. Interior Secretary and co-chair of...

Cuba has inaugurated a new solar energy park in the capital Havana (AFP)

Cuba opens solar park hoping to stave off blackouts

Cuba on Friday unveiled a new solar energy park in the capital...

FILE PHOTO: Cranes unload imported iron ore from a cargo vessel at a port in Lianyungang, Jiangsu province, China October 27, 2019. REUTERS/Stringer/File Photo

Iron ore heads for weekly gain on brightening demand outlook, China stimulus hopes

By Amy Lv and Lewis Jackson BEIJING (Reuters) -Iron ore futures prices...

Login into your Account

Please login to like, dislike or bookmark this article.