Jan 11 (Reuters) - The biggest divergence between U.S. andAsian gas prices in a year has created an opportunity fortankers delivering liquefied natural gas, with most departuresfrom a key Louisiana terminal in the last month-and-a-halfheading toward East Asia, shipping data released on Wednesdayshow.
The facility, Sabine Pass, owned by Cheniere Energy Inc, opened last year as the first LNG export terminal inthe U.S. Lower 48 states. The United States has been exportinggas out of Alaska since 1969.
U.S. gas prices at the Henry Hub
Spot gas in Asia
The premium of Asia over U.S. gas has reached its highestlevel since January 2015, presenting an arbitrage opportunitythat LNG traders have rushed to fill.
"China is experiencing colder-than-normal conditions, demandhas kicked higher and prices have followed," said Matt Smith,director of commodity research at energy data providerClipperData in Louisville, Kentucky.
In addition, China is looking to avoid previous gasshortages that the country has experienced in the past, Smithsaid.
Of the 17 LNG vessels that left Sabine Pass in Louisianasince the start of December, at least 10 have either deliveredtheir cargoes in East Asia or were moving in that directionacross the Pacific Ocean, data from Reuters and ClipperDatashow.
Those 10 ships have the capacity to carry about 33.2 billioncubic feet (bcf) of gas, worth about $120.6 million, based onthe Henry Hub average. The United States consumes about 75 bcfper day (bcfd) of gas on average.
Those 10 included the first shipments from Sabine to bothJapan and South Korea.
Royal Dutch Shell Plc's BG Group has the contractfor the part of the capacity for parts of the first and second0.65-bcfd liquefaction trains at Sabine Pass. Gas Natural Fenosa also has a contract for part of the capacity of thesecond train.
Since February, 61 vessels have taken cargos from Sabine,but just three vessels delivered LNG to East Asia betweenFebruary and the end of November. Another 27 went to eitherSouth America or Mexico and five to India; the rest werescattered around the Middle East and Europe. (Reporting by Scott DiSavino; Editing by Richard Chang)
