US LNG Exports Drop as Shipping Rates Plummet to New Low

US liquefied natural gas (LNG) exports have seen a mixed trend in recent weeks. According to the Energy Information Administration, US LNG plants sent 31 cargoes during the week ending August 5, down four cargoes from the previous week.

This decline comes after a surge in exports just last week when 35 cargoes were shipped out. The drop is not unexpected given the current market conditions and changing demand for LNG globally.

Meanwhile, Atlantic spot LNG shipping rates have continued to fall, reaching $51,750 per day, the lowest since the Middle East conflict began. These rates have been steadily decreasing over the past few weeks, with a significant drop below $80,000 per day just last week.