A roundup of news and commentary from NGI’s LNG Insight
- Freeport LNG is working through a backlog of tankers this week. The vessel Prism Brilliance was loading at the terminal Thursday. Five vessels are waiting in the Gulf of Mexico to load at Freeport and three more are on their way, according to Kpler. No vessels departed the terminal for a week after power was knocked out by Tropical Storm Nicholas on Sept. 14. Feed gas deliveries have returned to normal levels of about 2 Bcf/d.
- UK Business Secretary Kwasi Kwarteng warned the House of Commons Thursday that even more energy suppliers could go bankrupt in the coming weeks amid an energy crisis in Europe that’s sent carbon, coal, natural gas and power prices soaring. Seven smaller energy suppliers have folded since August, forcing about 1.5 million customers onto the rolls of other companies.
- RBN Energy said “a confluence of bullish factors” is behind the rise in natural gas prices, including demand, low storage inventories, weather and supply outages.
- “While many of these are near-term drivers and will eventually flip in the other direction, there is one bullish driver of global gas demand — European carbon prices — that will remain a constant in the years to come,” the firm said. “That is by design because the carbon market is meant to serve as an incentive for the industry to seek greener solutions over fossil fuels.”
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