Northeast Prices

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…

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

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

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

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