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LNG exports gain last month on cooler weather, extra day

of

shipments

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Europe took about 48% of cargoes as benchmark prices rose

By Curtis Williams

HOUSTON, Oct 31 (Reuters) - U.S. exports of liquefied

natural gas in October rose to the third highest level this year

as cooler weather, one extra day of shipments and no major

outages boosted output, data from financial firm LSEG showed.

Output hit nearly 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 autumn maintenance.

The U.S. shale gas revolution has made the country the

world's largest exporter of LNG, generating tens of billions of

dollars in annual trade. Plants originally designed to import

LNG have been converted to major export facilities and more are

planned.

Cheniere Energy, the largest U.S. exporter of the

superchilled gas, this week said production in the fourth and

first quarters are typically its largest as cooler weather

allows plants to run more efficiently.

Feedgas flowing to the seven big U.S. LNG export plants rose

to an average of 13.1 billion cubic feet per day (bcfd) in

October, up from 12.7 bcfd in September, the LSEG data showed.

Europe was again the favored destination for U.S. LNG with

3.65 MT, or just under 48% of total exports, as prices rose in

Europe. In September, 3.2 MT, or about 42% of U.S. exports,

shipped to the continent.

Gas prices at the European benchmark Title Transfer Facility

rose to an average of $12.89 per million British

thermal units (mmBtu) in October, up from $11.75 in September,

LSEG data showed.

LNG exports to Asia slid to 2.67 MT, or 35% of total

exports, compared to 2.96 MT in September, according to LSEG

data. The drop came as the Japan Korea Marker benchmark

eased to an average of $13.34 per mmBtu in October, down from

$13.41 in September.

The U.S. last month exported 900,000 tons, or almost 12%, to

Latin America with the major buyers being Colombia, Brazil,

Jamaica and the Dominican Republic. This was down 15% from 1.07

MT in September, according to LSEG data.

Egypt continued to be active in the market, buying four U.S.

cargoes or 300,000 tons of LNG. There was also one cargo that

was out for orders, LSEG data showed.