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Natural gas plays an important role in energy supply, and its fields of application are diverse. However, the world’s largest growth potential among fossil fuels is attributed to liquefied natural gas (LNG). In the last few years, the U.S. rapidly increased LNG exports, and it is expected that they will further increase the liquefaction capacities. The cost of the LNG value chain is composed of the natural gas price in the country of origin, and the LNG process costs for liquefaction, transportation, storage, and regasification. Thus, the Henry Hub (HH) price in the U.S. is important for U.S. LNG exports to Western Europe. In this paper, gas flows in Western Europe at the beginning of the 2030s are analyzed if the price at HH is higher or lower than expected. Furthermore, the effect of the HH price on monthly U.S. LNG exports are studied. For the calculations, the global gas market model WEGA is used. The results reveal that the price at HH has a significant effect on annual gas flows in Western Europe and also on U.S. LNG exports during the summer. Furthermore, it is shown that pipeline gas in Western Europe will absorb fluctuations of U.S. LNG exports between the presented scenarios.

Effects of the Henry Hub Price on U.S. LNG Exports and on Gas Flows in Western Europe