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04 Sep 2024

US LNG Exports Rebound in August on Higher Output From Freeport LNG

04 Sep 2024  by reuters   

A child plays at Surfside Beach as France-flagged vessel LNG Adventure departs from Freeport, Texas, bound for the Panama Canal, in Freeport, Texas, U.S. July 28, 2023. REUTERS/Marianna Parraga/ File Photo Purchase Licensing Rights
Exports of U.S. liquefied natural gas bounced higher in August as output from the country's second-largest export facility rose following an outage and maintenance activities at other plants wound down, preliminary data from financial firm LSEG showed on Tuesday.

Exports of the superchilled gas rose to 7.48 million metric tons (MT) in August, up from the 6.69 MT in July, which marked the second-lowest monthly exports of the year, the LSEG data showed.

The U.S. last year was the world's largest LNG exporter.

In August, Freeport LNG at times operated above nameplate capacity as it began to benefit from its debottlenecking work to add output beyond the plant's 15.3 MTPA capacity following an outage in July.

The Texas company's operations were offline for a time last month after a shutdown ahead of Hurricane Beryl, which hit the Texas coast near Freeport as a Category 1 hurricane on July 8. The plant remained down for eight days and resumed operations on a phased basis.

U.S LNG producers continued to favor exports to Asia. A heat wave was driving Asian LNG prices while a well-supplied Europe was putting downward pressure on prices on the continent, Masanori Odaka, senior analyst at Rystad Energy, said last month.

In August, 3.19 MT, or just under 43%, was supplied to Asia, a similar percentage but a slightly higher volume compared to the 2.9 MT shipped in July, LSEG ship tracking data showed.

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