US LNG exports… EIA

Here is a look at LNG exports from the EIA’s Natural Gas Weekly Update, here…

“U.S. LNG exports increased in the first half of this year because of an increase in international natural gas and LNG spot prices in Asia and Europe, an increase in global LNG demand following easing of COVID-19 restrictions, and continuous unplanned outages at LNG export facilities in several countries, including Australia, Malaysia, Nigeria, Algeria, Norway, and Trinidad and Tobago.

In Asia, colder-than-normal winter temperatures led to increased demand for spot LNG imports. Natural gas demand in the spring continued to rise amid low post-winter inventories, which contributed to unseasonably high natural gas prices, attracting higher volumes of flexible LNG supplies, particularly from the United States.

In Europe, natural gas storage inventories were also low following a cold winter. Increasingly hot temperatures in May and June and higher natural gas demand from the electric power sector contributed to high natural gas spot prices. Europe’s natural gas spot prices have historically been lower than prices in Asia; however, this year, Europe’s natural gas prices are tracking Asia’s spot LNG prices more closely to attract flexible LNG supplies from around the world to refill storage inventories.”