Analysts estimated that the US exports of liquefied natural gas (LNG) will rise in August after six months of declines.
So far in August, the volume of gas getting into the country’s LNG averaged at 4 bcfd, said Refinitiv. The data embarks expectation that LNG exports would post the first monthly gain since February this month, also compared with July’s lowest level in 21 months.
LNG inventories in the US and Europe are estimated to hit a record high at the end of the injection season, even when they were not as high as previously predicted as the US is experiencing a hot summer and climbing US LNG exports.
Analyst Daniel Myers of Gelber & Associates commented that demand LNG feedgas has gotten into the highest level since late June. “The market is optimistic that export demand will start to recover this fall after bottoming out in July,” he said.
