(Bloomberg) Right now there are no liquefied natural gas tankers docked and loading at any of the six U.S. export terminals. That’s a highly unusual situation for the world’s third-largest shipper of the fuel and an indication of how far LNG trade flows have been upended by the recent freeze.
By Sergio Chapa and Michael Tobin (Bloomberg)
Right now there are no liquefied natural gas tankers docked and loading at any of the six U.S. export terminals for the first time since global demand for the superchilled power-plant fuel crashed in August.
That’s a highly unusual situation for the world’s third-largest shipper and an indication of how far LNG trade flows have been upended by the recent freeze.
Shipping data compiled by Bloomberg shows the absence of vessels after two tankers left U.S. terminals Thursday. The last time no vessels were at any U.S. port was in late August, according to Reid I’Anson, senior commodity economist at Kpler. U.S. LNG exports fell 40% in July from a year earlier as the pandemic slowed economic growth.
U.S. LNG Exports Bouncing Back as Weather Finally Shifts Along Gulf Coast
U.S. liquefied natural gas (LNG) exports were slowly recovering Friday, but the impacts of brutal cold along the Gulf Coast that nearly halted shipments altogether were lingering.
Eighteen empty LNG vessels were floating in the Gulf of Mexico Friday, up from 12 on Thursday, Kpler economist Reid I’Anson told NGI. Another two tankers were diverted away from Cheniere Energy Inc.’s Corpus Christi LNG (CCL) terminal in South Texas to its Sabine Pass LNG plant in Louisiana. Both CCL and Cameron LNG in Louisiana remained offline Friday. Freeport LNG on Quintana Island, TX, was still operating at partial capacity.
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