US LNG Exports Rise as Europeans Stock Up Ahead of Winter

U.S. liquefied natural gas exports rose in August due to increased demand from European buyers replenishing gas inventories ahead of winter, according to preliminary data from LSEG.

The country's total LNG exports reached 10.7 million metric tons in August, up from 10.48 MT in July, with Europe remaining the top destination for U.S. cargoes at 5.84 MT or 55% of total exports.

Freeport LNG and Cheniere Energy completed maintenance work at their facilities in Texas and Corpus Christi respectively, contributing to the increase in exports.

The premium for Asian LNG narrowed compared to European gas benchmarks as European demand strengthened, with the Japan-Korea Marker averaging $22.00 per million British thermal units (mmBtu) in August, up from $19.10 in July.