Europe's LNG Demand Soars as US Feedgas Volumes Dip
US LNG feedgas demand dipped again on Wednesday, reversing some of Tuesday's gains. Volumes totaled about 17.66 Bcf/d, a decrease of roughly 250 MMcf/d from the previous day, according to NGI's Entropic Analytics data.
The seven-day average for US LNG feedgas demand eased to 17.92 Bcf/d from 17.99 Bcf/d the previous Wednesday, with August tracking at 17.83 Bcf/d against 17.96 Bcf/d in July.
Deliveries on Cheniere Energy's Corpus Christi Pipeline (CCPL) fell for a third straight session, making it the biggest mover in national feedgas demand for exports. Flows on the system dropped to about 1.87 Bcf/d in the evening cycle for Wednesday nominations from 2.76 Bcf/d Sunday.
Meanwhile, European demand for US LNG cargoes jumped, with heat-driven constraints in France pushing output down 18% Monday. Daily US LNG exports to Europe averaged 0.22 Mt over the seven days ended Aug. 19, equivalent to roughly 10.5 Bcf/d and up 41% from the prior week.