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    Cheniere benefits from surging LNG demand: press

Summary

European prices, new capacity create record flows at Louisiana gas export terminal

by: Maureen McCall

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Complimentary, Natural Gas & LNG News, Americas, Europe, Liquefied Natural Gas (LNG), Corporate, Market News, News By Country, EU, United States

Cheniere benefits from surging LNG demand: press

Houston’s Cheniere Energy, the second-largest global LNG operator, had record flows late last week, Bloomberg reported January 21.

Natural gas flows into Cheniere’s Sabine Pass LNG terminal in Lousiana hit a record 5.1bn ft3/day on both January 20 and January 21, according to estimates by BloombergNEF.

The large gap between US and European natural gas prices is proving to be a great arbitrage opportunity for the company as it continues commissioning the sixth train at the terminal, which is expected to be fully operational in Q1 2022.

Natural gas sold at the US benchmark Henry Hub is trading around US$3.94/mn Btu, while gas on Europe’s TTF hub is topping US$26/mn Btu, according to Bloomberg.

Equipped with two loading docks, Sabine Pass is seeing an increase in double tanker bookings so far this year, Bloomberg added.