LNG: US LNG Exports Up In July As Planned Maintenance Winds Down

LNG exports from the US jumped 9% on the month in July, as operations resumed following planned maintenance, according to Reuters.

• A total of 7.74 million mt of LNG was exported, 43% of which went to Europe, 36% to Asia, and 10% to Latam, according to Refinitiv data.
• Shipments to Europe have continued to decline at the expense of exports to Asia, whose exports hit an 18-month high in July of 2.43m mt.
• Subdued prices in Europe have kept the arbitrage to the Pacific open, leaving Asia as the premium market. This is despite many Asian buyers holding out on acquiring cargoes due to healthy storage levels.
• US liquefaction facilities are now expected to run at near full utilization for the rest of the summer, according to Rystad Energy, following the end of the maintenance season.
• Export levels from US terminals stood at 11.95 bcf/day Aug. 2 according to Bloomberg.