US LNG Exports Decline in June Amid Plant Maintenance and Shifting Global Demand

US LNG exports fall in June due to plant maintenance

HOUSTON – U.S. liquefied natural gas (LNG) exports dropped to their second lowest monthly level for the year in June, as maintenance work at some of the country’s largest export facilities reduced output, according to preliminary data from financial firm LSEG.

The United States, the world’s top exporter of LNG, sold 8.4 million metric tons of the superchilled gas during the month, down from 8.9 million metric tons in May and well below April’s record of 9.3 million metric tons, LSEG data showed.

The reduction in LNG exports was primarily due to seasonal maintenance, including at Cheniere’s 4.5 billion cubic feet per day Sabine Pass facility in Louisiana and its 2.4 billion cubic feet per day Corpus Christi plant in Texas. Cameron LNG’s 2.0 billion cubic feet per day plant in Louisiana also underwent maintenance, and there were unplanned unit outages at Freeport LNG’s 2.1-billion cubic feet per day plant in Texas, according to LSEG data.

Maintenance at both Sabine Pass and Cameron LNG appeared to have ended by the last week of June, with the plants producing close to capacity, according to LSEG data.

EUROPE DOMINATES PURCHASES

Slower economic growth in Asia due to ongoing trade wars with the United States continues to impact demand for LNG, with a collective drop of 16 million metric tons in imports during the first half of the year compared to the same months in 2024, according to Reuters data.

In June, gas prices were slightly higher in Asia than in Europe, with the Asian benchmark Japan Korea Marker rising to $12.90 per million British thermal units (mmBtu) from $11.83 in May. This compares with the European benchmark Title Transfer Facility in the Netherlands, which rose to $12.38 per mmBtu in June from $11.68 in May.

Even with a slight arbitrage favoring Asian exports, U.S. producers exported 5.53 million metric tons or 66% of their LNG to Europe in June, below the 6.05 million metric tons or 68% that went to Europe in May, LSEG data showed. Exports to Asia remained relatively low with 1.56 million metric tons or 19% sold to that part of the world in June compared to 1.88 million metric tons or 21% of total exports in May, LSEG data showed.

With Train 1 of LNG Canada’s 14 million metric tons per annum (mtpa) plant exporting its first cargo on the last day of June, it is likely to compete favorably with U.S. LNG exports from the Gulf Coast due to its shorter sailing time to Asia.

US EXPORTS MORE LNG CLOSER TO HOME

With colder weather in some South American countries and problems securing enough domestic gas in Argentina, the United States stepped up its exports to Latin America with 0.81 million metric tons or 10% of all cargoes going to the region. This compares to 0.66 million metric tons or just over 7% in May, LSEG data shows.

Argentina alone bought a combined 340,000 tons of LNG in June with the U.S. supplying one third of that, and Trinidad and Tobago supplying 230,000 tons, according to LSEG data.

U.S. LNG exporters continued to show versatility, with exports to Egypt and South Africa in June, LSEG data showed. In June there were a number of deals announced between U.S. LNG developers and buyers in Asia that could result in even more LNG leaving U.S. ports over the next five years, and the country maintaining its position as the world’s largest LNG exporter.