European Winter Stockpiling Boosts US LNG Exports
US liquefied natural gas (LNG) exports rose slightly in August as major export plants in Texas finished maintenance and European buyers increased purchases to replenish gas inventories ahead of winter. According to preliminary data from financial firm LSEG, the United States exported 10.7 million tonnes of LNG in August, up from 10.48 million tonnes in July.
The increase came as Freeport LNG, the country's fourth-largest LNG export plant, exited maintenance at its Texas facility and Cheniere Energy completed planned work at its Corpus Christi facility, which is the third largest in the United States. Europe remained the top destination for US cargoes, importing 5.84 tonnes, or 55% of total exports in August.
The premium for Asian LNG compared to European gas benchmarks narrowed due to stronger European demand. The Japan-Korea Marker benchmark averaged $22 per million British thermal units (mmBtu) in August, up from $19.10 in July, while the Dutch Title Transfer Facility benchmark averaged $21.17 per mmBtu in August.