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US LNG exports dip in September on plant upkeep

U.S. exports of melted natural gas fell somewhat in September as plant maintenance cut output, while Europe stayed the leading destination, data from financial firm LSEG showed.

Gulf Coast plants got away any significant impact from hurricanes last month, helping the U.S. to keep its status as the world's. largest LNG exporter.

Exports of the superchilled gas fell to 7.26 million metric. heaps in September, simply down from August, when the U.S. offered. 7.48 MT, LSEG information revealed.

U.S. energy business Berkshire Hathaway Energy's. Cove Point plant that closed in Maryland for fall upkeep,. according to a notification to customers, caused most of the. decrease.

Natural gas flowing to the plant fell to almost absolutely no from an. average of around 0.7 billion cubic feet daily (bcfd),. according to LSEG data.

Hurricanes Helene and Francine caused significant damage to. numerous parts of the U.S., but Gulf Coast LNG centers got away. any direct impact.

Europe was once again the preferred location for U.S. LNG with. 3.2 MT or just under 42% of overall exports delivered to the. continent, compared to 2.92 MT, or 39%, in August.

LNG for Europe priced at the Dutch Title Transfer Center. balanced $11.75 per mmBtu throughout September, down. from $12.40 in August. In Asia, the Japan-Korea Marker index. balanced $13.41 per mmBtu, up from $13.30 in August.

An arbitrage in theory preferred Asia, but according to a 2023. S&P research study, it costs two times as much to send an LNG tanker from the. U.S. to Asia as to Europe, making the arbitrage less lucrative.

A minimum of 2 cargoes initially headed for Asia in September. were diverted to Europe, LSEG's ship tracking information showed.

Exports of LNG to Asia reduced in September to 2.96 MT,. below 3.19 MT in August, according to LSEG data.

The figures also showed India imported a minimum of 11 freights,. or 25% of all the LNG Asia purchased.

U.S. LNG exporters also increased sales to Latin America. with the area taking 1.07 MT, or almost 15%. Brazil and. Colombia were the primary locations, with other sales to. Jamaica, Panama and the Dominican Republic, the information revealed.

It also revealed 2 cargoes were delivered to Jordan for a. overall of.14 MT and one to Egypt for.07 MT.

(source: Reuters)