Refinitiv Eikon data showed U.S. liquefied natural gas exports fell for the second month in a row in July due to the shutdown of a Texas LNG plant following a fire, but Europe accounted for a large share of the total. .
The Freeport plant, the US’s second-largest LNG exporter, is expected to partially reopen on October 22, but its temporary shutdown has reduced US LNG exports by about 1.9 billion cubic feet per day.
The fire has limited US LNG exports amid strong demand in Europe as buyers seek to replace Russian supplies. Prices rose to $57 per million BTU last week from $33 in March. Higher prices weakened demand in Asia and Latin America.
According to Eikon data, 86 cargoes were shipped from US ports in July, carrying a total of 6.12 million tons of LNG, up from 6.3 million tons the previous month and the lowest level of exports since September.
Source: El Iktisad
