en.Wedoany.com Reported - U.S. liquefied natural gas (LNG) exports fell to 10.2 million metric tons in May, the lowest monthly level this year except for February, primarily due to reduced output at multiple export plants undergoing seasonal maintenance. Preliminary data from financial firm LSEG indicated this decline.

The drop in exports resulted from operators scheduling concentrated maintenance shutdowns in the spring after delaying early-year maintenance to capitalize on strong demand. U.S. exporters such as Cheniere Energy postponed maintenance in March to prioritize shipments to Asia, amid a global production loss of nearly 20% related to reduced supply from Qatar.

In Texas, one of Freeport LNG's three liquefaction trains began planned maintenance in mid-May; in Louisiana, Cameron LNG reduced feedgas demand, indicating annual maintenance on its Train 2, while pipelines supplying the plant also underwent construction. Golden Pass LNG saw near-zero gas intake for several days in early May as it continued plant commissioning; at Cheniere's Sabine Pass facility in Louisiana, feedgas flows dropped sharply in mid-May due to maintenance.

Despite the overall export decline, shipments to Asia rose to a one-year high. LSEG vessel tracking data showed that the U.S. exported 3.68 million metric tons to Asia in May, accounting for nearly 36% of total shipments, up from 2.71 million metric tons in April. This increase was driven by pricing arbitrage—the Asian JKM benchmark price commanded a premium over the European TTF. Asian spot LNG prices edged lower in May, with the JKM average at $17.75 per million British thermal units, slightly down from $17.92 in April; the benchmark still maintained a roughly 10% premium over the European TTF, which averaged $16.11 per million British thermal units, up from $15.34 in April.

Europe remained the largest destination for U.S. LNG exports, receiving 5.13 million metric tons, slightly over 50% of total shipments, but down from 6.14 million metric tons (nearly 56%) in April. According to LSEG vessel tracking data, exports to Latin America increased to 600,000 metric tons, about 6% of the total, the highest level since the outbreak of the Israel-Iran war; exports to the region had previously declined since the conflict began. Egypt reduced its imports to about 300,000 metric tons, roughly half its usual monthly intake of 600,000 metric tons.

In other regions, two cargoes were shipped to African countries, and slightly over 3% of U.S. LNG cargoes remained at sea at the end of the month, indicating available supply for spot buyers. Despite the decline in U.S. production, preliminary LSEG data showed that global LNG exports remained relatively stable in May at 33.8 million metric tons, slightly down from 33.99 million metric tons in April and below 35.66 million metric tons in March.

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