Not one but two U.S. LNG exports pending

LNG gurus Waterborne Energy noted last week it looked like the Freeport LNG facility about an hour south of Houston was set to re-export a shipment back overseas.
Now it looks like they’ll make it a double.

“Waterborne believes that Citibank has recently struck a deal with ConocoPhillips for the re-export of one 3 bcf cargo by mid December. To transport the cargo Citibank has chartered in the tanker “Clean Force” which is currently steaming towards the Freeport LNG facility on the Texas Gulf Coast.”

Where’s that shipment going? Likely the Far East sometime in January where it can fetch closer to $8/mmbtu. (NYMEX Henry Hub closed at $4.48 yesterday).

“To help facilitate the transaction it is being rumored that Dynacom, the tanker owner, presented a lower freight rate in exchange for some profit share on the back side of the deal.”

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