US LNG Exports Surge to 7.60MT in May, After Freeport LNG Resumes Full Production

US LNG Exports Surge to 7.60MT in May, After Freeport LNG Resumes Full Production

US increased its liquified natural gas (LNG) exports in May to 7.60 million metric tons (MT) from 6.19 million MT in April and just below the 7.61 MT exported in March, LSEG data showed.

This uptick was primarily driven by the full production at US’s second largest exporter of superchilled gas Freeport LNG, following a period of mechanical issues that had temporarily halted operations, and an increased demand for LNG supplies in Asia.

Freeport LNG, which can produce 15 million metric tons per annum (MTPA), returned to full production on May 10.

US exporters last month seized on higher spot prices in Asia by sending 3.15 MT, or 41% of total exports, up from 2.02 million tons, or 32.6% in April. Most vessels took the long route past South Africa’s Cape of Good Hope to reach their destination, according to Reuters.

Spot prices in Asia climbed last month on firm demand as hot weather increased the need for power generation and buyers took advantage of lower LNG prices relative to the same period in 2023.

Meanwhile, the US LNG exports to Latin America and the Caribbean also saw a an increase, with May exports reaching 940,000 tons, or 12% of total sales, up from 850,000 tons in April.

Moreover, seven major US LNG export plants also saw an increase, rising to 12.9 billion cubic feet per day (bcf/d) in May from 11.9 bcf/d in April with the return of Freeport LNG’s 2.1-bcfd plant in Texas.

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Doaa Ashraf 458 Posts

Doaa is a staff writer with a Bachelor's Degree in Mass Communication, majoring Journalism from Ahram Canadian University. She has 2-3 years of experience in copywriting, and content creation.

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