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United States October LNG exports climb up 4% from September

U.S. exports of liquefied natural gas in October increased to the third greatest level this year as cooler weather, one extra day of shipments and no major blackouts boosted output, data from monetary firm LSEG showed.

Output struck almost 7.56 million metric tons (MT) in October, up 4% from September's 7.26 MT. September's exports were hurt by the closure of Berkshire Hathaway Energy's Cove Point for fall maintenance.

The U.S. shale gas transformation has made the nation the world's largest exporter of LNG, generating 10s of billions of dollars in yearly trade. Plants originally created to import LNG have actually been converted to significant export facilities and more are prepared.

Cheniere Energy, the largest U.S. exporter of the superchilled gas, this week said production in the 4th and initially quarters are normally its biggest as cooler weather permits plants to run more effectively.

Feedgas streaming to the seven huge U.S. LNG export plants increased to an average of 13.1 billion cubic feet daily (bcfd) in October, up from 12.7 bcfd in September, the LSEG information revealed.

Europe was again the favored location for U.S. LNG with 3.65 MT, or just under 48% of overall exports, as prices increased in Europe. In September, 3.2 MT, or about 42% of U.S. exports, shipped to the continent.

Gas prices at the European criteria Title Transfer Center rose to approximately $12.89 per million British thermal units (mmBtu) in October, up from $11.75 in September, LSEG data showed.

LNG exports to Asia moved to 2.67 MT, or 35% of overall exports, compared to 2.96 MT in September, according to LSEG information. The drop came as the Japan Korea Marker standard eased to approximately $13.34 per mmBtu in October, below $ 13.41 in September.

The U.S. last month exported 900,000 tons, or practically 12%, to Latin America with the significant purchasers being Colombia, Brazil, Jamaica and the Dominican Republic. This was down 15% from 1.07 MT in September, according to LSEG information.

Egypt continued to be active in the market, buying 4 U.S. freights or 300,000 tons of LNG. There was also one cargo that was out for orders, LSEG information revealed.

(source: Reuters)