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Natural Gas Futures’ Rally Continues Driven by Demand-Side Fundamentals, Spot Surges
LNG
Asian Spot Buying Increases Amid Hot Weather, Supply Disruptions – LNG Recap
Hot weather, maintenance at power generation facilities and LNG production outages have combined to push Asian natural gas prices higher. The July Japan-Korea Marker futures contract was trading above $11/MMBtu after climbing 7% last week. One of three trains at Chevron Corp.’s Gorgon liquefied natural gas export facility in Western Australia, which mainly serves Asia,…
May 20, 2024Canada
Canadian Fires Present Wildcard for Natural Gas Production, Imports to Western U.S. and Prices
Following a record-setting outbreak in 2023, a fast start to the wildfire season is already threatening interruptions to Canada’s largest crude oil production region. Blazes in the western reaches of the country, if not contained, could also hamper natural gas output in a potential replay of last summer. Impacts to either would present possible implications…
May 20, 2024LNG
Adnoc Lands 1.9 MMty Offtake Agreement, Equity in Rio Grande LNG
Abu Dhabi National Oil Co. (Adnoc) has invested in the first phase of Rio Grande LNG and secured offtake from a future expansion as it looks to boost its international natural gas portfolio. Adnoc disclosed Monday it has acquired an 11.7% stake in the first three trains of NextDecade Corp.’s 17.6 million metric tons/year (mmty)…
May 20, 2024Regulatory
Mexico Natural Gas Potential Said ‘Massive’ with Right Policy Changes
Mexico’s recent widespread blackouts serve as a warning in failed policies for the current and incoming governments, but solutions are available, experts said Thursday. Speaking in San Antonio, TX, at the 10th Mexico Gas Summit organized by Industry Exchange, Grupo Alfa’s Rodolfo Gamboa, vice president for Energy said, “The impending energy crisis that we are…
May 20, 2024Recent News
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