Natural gas spot prices in the U.S. fell in most locations in the week ending April 12 with the Henry Hub price dropping 22˘ from last Wednesday.
The Henry Hub spot price dropped from $3.21/MMBtu last Wednesday to $2.99/MMBtu two days ago, according to the weekly report by the Energy Information Administration released on Thursday.
EIA’s recently released energy outlook forecasts that Henry Hub spot prices will average $3.04/MMBtu for the second quarter of 2017, and $3.10/MMBtu for the full-year.
At the Chicago Citygate, prices decreased 28˘ from $3.24/MMBtu last Wednesday to $2.96/MMBtu two days ago while prices at PG&E Citygate in Northern California fell 7˘ to $3.32/MMBtu.
Four Sabine Pass cargoes
Natural gas pipeline flows to Cheniere’s Sabine Pass liquefaction terminal in Louisiana averaged 2.3 Bcf/d for the report week, 9% higher than the previous week.
Four vessels with a total LNG-carrying capacity of 14.3 billion cubic feet (Bcf) departed Sabine Pass departed Sabine Pass in the week under review, EIA said in the report.
Cheniere recently received authorization from the Federal Energy Regulatory Commission (FERC) to commence liquefaction and export activities from Train 3.
The Houston-based company also filed a request with FERC to begin commissioning of Train 4.
Once the fourth train at Sabine Pass becomes operational, the total baseload nameplate capacity of the facility will reach 2.6 Bcf/d, with a maximum operating capacity of 2.9 Bcf/d, according to EIA.
The fifth train at the Sabine Pass facility, currently under construction, is expected to begin service in mid-2019.
Cheniere is developing up to six trains at Sabine Pass with each train expected to have a nominal production capacity of approximately 4.5 million tons per annum.