US LNG Exports Surge on Stronger European Demand

US liquefied natural gas exports rose in September as stronger European demand lifted prices and encouraged producers to maximize output. The Cove Point LNG export plant in Maryland was shut down for three weeks of maintenance, but American LNG exports still increased to 10.9 million metric tons in September from 10.7 MT in August.

The US Gulf Coast experienced cooler temperatures, reducing heat-related constraints that weighed on production during the summer months. Europe remained the largest destination for US LNG, importing 5.91 MT, or 54% of total exports, as buyers sought to refill storage sites ahead of the winter heating season.

Asia increased its purchases of US LNG to 2.84 MT, or 26% of exports, from 2.59 MT in August as robust regional prices continued to attract cargoes. The Dutch Title Transfer Facility benchmark averaged $25.42 per million British thermal units in September, slightly above the Japan-Korea Marker.