US starts to increase gas supplies to Europe

Thanks to the completion of summer preventive maintenance and the commissioning of new capacities, US enterprises began to increase LNG supplies to Europe, reported from Kommersant newspaper.

US liquefaction plant utilization peaked since late June, with LNG use reaching 325 million cubic meters per day (11.5 billion cubic feet), according to Platts data.

The growth is associated with the gradual commissioning of the capacity of the new Calcasieu Pass plant, owned by Venture Global, with a capacity of 12 million tons of LNG per year.

So, US LNG production is rebounding as summer repairs are completed, though still short of the record 13.5 billion cubic feet per day (382 million cubic feet per day) hit in the spring: Freeport accident (23% of all liquefaction capacity in the country) put it out of action until at least mid-November.

The cost of gas in the US at the Henry hub is about $9.3 per MBTU. Although prices have nearly tripled since the start of the year, they are still ten times lower than in Europe.

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