Natural gas futures gained on Thursday, supported by colder forecasts for next week and a government inventory report that showed supplies did not grow faster than expected. At A Glance: EIA reports 50 Bcf injection Forecasts colder for next week Production at 97.8 Bcf/d Coming off two days of price volatility caused in part by…
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May Natural Gas Futures Jump After Storage Print Lands Near Expectations
Utilities injected 50 Bcf of natural gas into storage for the week ended April 12, the U.S. Energy Information Administration (EIA) reported on Thursday. The result, near market expectations and avoiding the previous week’s bearish print, sent futures higher. Ahead of the 10:30 a.m. ET government report, May Nymex futures were trading 4.9 cents higher…
From LNG to Data Centers, Kinder Morgan Bullish on Natural Gas Growth
Producers of natural gas may be struggling with low prices, but for pipeline operators like Kinder Morgan Inc. (KMI), the outlook is anything but bearish. The Houston-based midstreamer, which transports about 40% of the natural gas consumed in the United States, kicked off the first quarter earnings season with stellar results and a positive message…
Eyes on West Texas Natural Gas as Negative Prices Persist – Mexico Spotlight
North American natural gas prices got short-lived support through a Canadian maintenance event on Tuesday but overall continued to languish at well below $2.000/MMbtu. On Wednesday, the May New York Mercantile Exchange natural gas contract slipped 2.0 cents day/day to settle at $1.712. NGI’s U.S. Spot Gas National Avg. rose 12.5 cents to $1.165. TC…
Alberta Pipeline Incident Sends Natural Gas Futures Higher
Natural gas futures jumped higher Tuesday afternoon after reports of a pipeline incident in Alberta broke up an otherwise quiet shoulder season day of trading. At A Glance: TC Energy responds to NGTL incident Production at 97.4 Bcf/d National Avg. back above $1 The May Nymex contract rose 4.1 cents day/day to settle at $1.732/MMBtu.…
Natural Gas Would Still Form Base of Mexico Power System Under Sheinbaum Presidency
Mexico’s presidential frontrunner Claudia Sheinbaum of the ruling Morena party would continue the nation’s buildout of natural gas-fired power if she were to win the June 2 election. Speaking to business leaders in Mexico City on Monday evening, Sheinbaum highlighted that 3.250 GW of new generation, 91% of which was natural-gas fired combined cycle, were…
As Temperatures Climb and Heating Demand Fades, May Natural Gas Futures Slump
Lighter shoulder season demand and soft export data overshadowed bullish production estimates and weighed down natural gas futures to kick off trading this week. At A Glance: Weak near-term demand Production remains softer NGI models injection of 55 Bcf The May Nymex gas futures contract on Monday settled at $1.691/MMBtu, down 7.9 cents day/day. Cash…
West Texas Natural Gas Exports to Mexico Surged in 2023 as U.S. Cemented Role as Top Global Supplier
Natural gas pipeline exports from the United States to Mexico via West Texas rose 20% year/year to average 1.6 Bcf/d in 2023, according to the latest data from the U.S. Energy Information Administration (EIA). Gas flows from West Texas to Mexico “have grown steadily since 2017 as more connecting pipelines in Central and Southwest Mexico…
Weak LNG Volumes, Mild Weather Sink Natural Gas Futures Early
As weaker export numbers and a mild spring forecast hampered the near-term demand outlook, natural gas futures sank in early trading Monday. After eking out a modest day/day gain on Friday, the May Nymex contract was down 4.8 cents to $1.722/MMBtu at around 8:45 a.m. ET. June was off 5.1 cents to $1.978. The natural…
Mexico’s Amigo LNG Project Benefiting From U.S. Permit Pause, CEO Says
The Amigo liquefaction project planned in western Mexico has been positively impacted by the Biden administration’s pause on new U.S. LNG export permits, according to LNG Alliance CEO Mutthu Chezhian. LNG Alliance is developing the Amigo LNG project at the port of Guaymas in Sonora on Mexico’s Pacific coast. The Amigo project would include a…