LNG exports hit another monthly high

U.S. LNG exports reached a fourth consecutive monthly high in October at 10.1 million tons as new gas liquefaction plants on the Louisiana and Texas Gulf Coast commenced operations, LSEG data shows.
Activity ramped up at Venture Global’s Plaquemines plant in Louisiana and Cheniere Energy’s Corpus Christi Stage 3 project in Texas, with production at each of the LNG export facilities up about 600,000 tons from September, LSEG data shows. Overall, U.S. LNG exports in October were up 1 million tons, or 11%, from a revised 9.1 million tons in September.
Shipping data provided by Bloomberg shows 84 LNG tankers departed Louisiana export terminals in the four weeks between Oct. 2 and Oct. 29, representing 67% of total U.S. loadings in the period. In the same four weeks, 38 LNG tankers departed Texas export facilities, while six shipments left terminals in Virginia and Georgia, the data shows.
Cheniere’s Sabine Pass facility in Cameron Parish, the world’s largest export terminal with capacity of 29.5 million tons per year, shipped a record 33 cargos in October. Venture Global and Cheniere together accounted for 72% of total U.S. exports in October, LSEG data shows.
While U.S. LNG shipments continued to increase in October, more of the Haynesville shale gas that feeds the export terminals changed hands during the month.
JERA, one of the world’s largest LNG buyers, agreed in October to pay $1.5 billion to GEP Haynesville and Williams for assets around the South Mansfield gas field in Louisiana, as reported by The Center Square. In March, Rockcliff Energy III, a subsidiary of Tokyo Gas, purchased a 70% interest in Chevron’s East Texas Haynesville shale assets.
“A land rush into the Haynesville by Asia companies with LNG commitments continues with JERA acquiring the South Mansfield joint venture from GEP Haynesville and Williams for $1.5 billion,” said Andrew Dittmar, principal analyst at Enverus Intelligence.