US LNG exports to Latin America more than double in February

US LNG exports to Latin America and the Caribbean rose more than 110% in February from the previous month, S&P Global Commodity Insights data showed on March 6.

The US exported around 22.67 Bcf of LNG to the region in February, up from 10.74 Bcf in January. February exports were nearly 8% lower than the 24.63 Bcf exported in February 2024 but 326% higher than the 5.32 Bcf exported in the same month in 2023—the lowest level of US exports to the region recorded by Commodity Insights since data collection began in 2016.

The exports were destined for four countries: the Dominican Republic, Brazil, Panama, and Colombia.

Brazil was the primary destination for US LNG exports, a spot the country last held in November 2024, with 10.3 Bcf. No US LNG was shipped to Brazil in January. The US LNG exported to Brazil in February was the highest since October, when around 13.35 Bcf of US LNG were exported to Brazil. The February exports to Brazil were shipped on three cargoes, already delivered to import terminals in Sergipe, Acu port, Sepetiba Bay, and Barcarena.

The second-largest volume of US LNG exports went to the Dominican Republic, totaling 7.15 Bcf, up from 5.27 Bcf in January. February marked the 27th consecutive month that the US has shipped LNG to the Dominican Republic, a streak unmatched by any other February destination. The exports to the island nation were shipped in two cargoes, which have already been delivered.

Panama ranked third with 3.33 Bcf, up from 1.89 Bcf in January. This was the highest volume of US LNG exported to Panama since June 2024, when 3.42 Bcf were exported. The volumes exported to Panama were also shipped on one cargo, which was delivered to the AES-operated Costa Norte import terminal earlier this month.

Colombia was fourth in export volume, with 1.89 Bcf. No US LNG volumes were shipped to Colombia in January. The February exports to Colombia were shipped on one cargo, delivered to Cartagena's SPEC LNG terminal in the last week of February.

No US LNG volumes were exported to Chile in February, which had been a destination for US LNG exports in January.

In February, LNG volumes exported from the US to terminals in Latin America and the Caribbean totaled seven cargoes, up from four in January. All of these February cargoes have been delivered. The Corpus Christi and Freeport LNG terminals, both located in Texas, sourced two cargoes each, while the Cameron, Cove Point, and Sabine Pass export facilities each sourced one cargo.

The Platts Gulf Coast Marker for US FOB cargoes loading 30- to 60-days forward was assessed at $10.85/MMBtu on March 6, down $1.09 day over day.