Story of the day
Natural Gas Futures Eke Out Gain; Spot Prices Advance Third Straight Day
LNG
Freeport LNG Ready to Introduce Feed Gas to Train 3 For First Time in Months
Freeport LNG Development LP has requested FERC’s approval to reintroduce feed gas to one of its three trains more than seven months after a fire and explosion knocked the Texas plant offline. In a filing on Monday, Freeport also said that it has successfully cooled down its Loop 1 transfer piping so it can move…
January 31, 2023
Earnings
ExxonMobil Gains on Higher Natural Gas Realizations, ‘Favorable Market’ in Late 2022
ExxonMobil leaned in when some competitors leaned out, and the supermajor has used the advantage to capture the upside, CEO Darren Woods said Tuesday. Woods and his executive team shared 4Q2022 and full-year results during a wide-ranging conference call. “Our results clearly benefited from a favorable market,” Woods told investors. “But to take full advantage…
January 31, 2023
Natural Gas Prices
Slide in JKM Prices Brings Some Asian LNG Buyers Back to Spot Market
South Asian natural gas buyers including India, Pakistan, Thailand and Bangladesh could return to the spot market as Asian LNG prices fell in January to their lowest levels since 2021. Although prices have strengthened somewhat, they are “now low enough to be within the comfort zone of price-sensitive buyers in South Asia,” said Rystad Energy…
January 31, 2023
Regulatory
API Urges Congress to Address Permitting Reform Amid ‘Far-Reaching’ NEPA Guidance
The American Petroleum Institute (API) called on the White House’s Council on Environmental Quality (CEQ) to rescind its proposal to mitigate both upstream and downstream greenhouse gas (GHG) emissions under the National Environmental Policy Act (NEPA). Directed by President Biden’s Executive Order 13990, NEPA reviews for oil and natural gas projects “should quantify proposed GHG…
January 31, 2023
Infrastructure
Initial Expansion of TAP Natural Gas System Launches Bid to Double Azerbaijan Exports to Europe
An initial capacity expansion of 1.2 billion cubic meters/year (Bcm/y) is underway on the Trans Adriatic Pipeline (TAP), the western connection bridging Azerbaijan’s natural gas production to Europe, as the European Union (EU) seeks to double imports through the system by 2027. TAP AG, the transmission operator for the 546-mile system, disclosed Monday natural gas…
January 31, 2023
Infrastructure
Mexico’s CFE Eyeing 2024 In-Service for Yucatán Natural Gas Power Plants
Mexico’s state power company Comisión Federal de Electricidad (CFE) is aiming to bring online 1.5 GW of natural gas-fired power generation capacity on the Yucatán Peninsula by summer 2024, CEO Manuel Bartlett said Monday. The combined-cycle plants in Mérida and Valladolid would have capacities of 499 MW and 1,020 MW, respectively, and run primarily on…
January 31, 2023
E&P
EnCap, Double Eagle Tout $2.3B in Commitments to Accelerate Permian Drilling Program
A private equity (PE)-backed oil and gas partnership formed last year has secured about $600 million in additional capital commitments to acquire and develop drilling opportunities in the Permian Basin. EnCap Investments LP, Double Eagle Energy Holdings IV and Tumbleweed Royalty IV LLC on Sunday announced a “successful equity commitment upsize” to $2.3 billion, and…
January 30, 2023
Permian Basin
Texas Broke Natural Gas Production Record in 2022, with Further Growth Expected
Texas produced 11.2 Tcf of natural gas last year, a new record, according to the Texas Independent Producers and Royalty Owners Association (TIPRO). Natural gas production in Texas dwarfed other states. Pennsylvania at 7.6 Tcf was the second highest producer in 2022, followed by Alaska (3.6 Tcf), Louisiana (3.6 Tcf) and Oklahoma (2.7 Tcf). In…
January 30, 2023
LNG
Natural Gas Demand and LNG Exports Growing, but Longer Term Outlook ‘Uncertain,’ Says BP
Global oil demand is falling, but natural gas prospects, including for LNG, will depend on the speed of the energy transition, with rising consumption in emerging economies expected to be offset by the developed world’s lower carbon resources, according to BP plc. The BP Energy Outlook 2023, the annual report by the supermajor, focuses on…
January 30, 2023Recent News
Infrastructure
Mexico’s CFE Eyeing 2024 In-Service for Yucatán Natural Gas Power Plants
Jan 31, 2023
Infrastructure
Initial Expansion of TAP Natural Gas System Launches Bid to Double Azerbaijan Exports to Europe
Jan 31, 2023
Earnings
ExxonMobil Gains on Higher Natural Gas Realizations, ‘Favorable Market’ in Late 2022
Jan 31, 2023
Natural Gas Prices
Slide in JKM Prices Brings Some Asian LNG Buyers Back to Spot Market
Jan 31, 2023
Regulatory
API Urges Congress to Address Permitting Reform Amid ‘Far-Reaching’ NEPA Guidance
Jan 31, 2023
Daily Gas Price Index
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Markets
Natural Gas Futures Eke Out Gain; Spot Prices Advance Third Straight Day
Natural gas futures stabilized on Tuesday, supported by a cold front, eased production and strength in cash markets Coming off a 17.2-cent drop in its debut as the front month a day earlier, the March Nymex gas futures contract on Tuesday settled at $2.684/MMBtu, up seven-tenths of a cent day/day. April rose 1.0 cent to…
January 31, 2023Infrastructure
Initial Expansion of TAP Natural Gas System Launches Bid to Double Azerbaijan Exports to Europe
January 31, 2023Mexico Gas Price Index
Daily news and natural gas pricing information service focused on price transparency in Mexico.
• Experienced insight into Mexican regulatory requirements, process guidelines and governmental oversight
• Regular interviews with Mexico natural gas subject matter experts
• NGI-calculated cost-plus-transport pricing, as well as official IPGN pricing
Infrastructure
Mexico’s CFE Eyeing 2024 In-Service for Yucatán Natural Gas Power Plants
Mexico’s state power company Comisión Federal de Electricidad (CFE) is aiming to bring online 1.5 GW of natural gas-fired power generation capacity on the Yucatán Peninsula by summer 2024, CEO Manuel Bartlett said Monday. The combined-cycle plants in Mérida and Valladolid would have capacities of 499 MW and 1,020 MW, respectively, and run primarily on…
January 31, 2023Markets
CFE Planning Natural Gas Capacity Auction in U.S. and Mexico, says Top Official
January 30, 2023Shale Daily
Impactful news and transparent pricing for shale and unconventional plays across the U.S. and Canada.
• Natural gas prices at 20+ North American shale basins and unconventional plays
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LNG
Alaska Governor Ready to ‘Unlock’ North Slope Natural Gas to Strengthen Energy Supplies
Alaska Gov. Mike Dunleavy sees the state’s future connected to its role as a global energy supplier, which means utilizing more natural gas resources and developing LNG exports to Asia, he said during the annual State of the State address. The Republican governor, who is beginning his second term, said he intended to build on…
January 31, 2023Regulatory