US LNG exports rise in September as Europe outbids Asia for cargoes
UNG•US LNG exports rose to 10.9 million metric tons in September from 10.7 million in August. Europe took 5.91 million metric tons, or 54% of exports, as the Dutch TTF benchmark averaged $25.42 per mmBtu, slightly above the Japan-Korea Marker.
1. Exports increase
US LNG exports climbed to 10.9 million metric tons in September from 10.7 million in August, despite a roughly three-week autumn maintenance shutdown at Berkshire Hathaway Energy’s Cove Point plant in Maryland. Cooler temperatures eased heat-related constraints on Gulf Coast production, while stronger European demand and elevated global gas prices encouraged producers to maximize output.
2. Europe leads destinations
Europe remained the largest destination, taking 5.91 million metric tons, or 54% of US exports, up from 5.8 million in August. Asia’s purchases increased to 2.84 million metric tons, or 26%, from 2.59 million. The Dutch TTF benchmark averaged $25.42 per mmBtu in September, compared with $25.39 for the Japan-Korea Marker.
3. Other regional flows
Egypt imported 0.68 million metric tons of US LNG, while Latin America took 0.53 million, down from 0.9 million in August. The decline coincided with Trinidad and Tobago’s exports rising to about 1.1 million metric tons, its highest monthly volume in more than two years. LNG Canada exported approximately 1 million metric tons, all delivered to Asian markets.
