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)…

Natural Gas Prices

Natural gas forwards rallied during the May 9-15 trading period as the market keyed in on the upside potential of summer power burns. Front month fixed prices at Henry Hub climbed 22.8 cents to finish the period at $2.422/MMBtu, Forward Look data show. Interestingly, near-month basis differentials weakened at numerous other Lower 48 trading points…

Markets

With bullish optimism continuing to build around summer cooling demand potential against a backdrop of leaner daily production numbers, natural gas futures were climbing again in early trading Monday. Coming off a 13.1-cent rally to close out last week’s trading, the June Nymex contract was up another 6.7 cents to $2.693/MMBtu at around 8:40 a.m.…

Energy Transition

Australia’s government has included initiatives for substantial natural gas development with the launch of its Future Gas Strategy plan intended to help the country transition to cleaner energy by 2050. The latest plan assures global energy partners and foreign investors that the Australian government is a committed, reliable supplier of liquified natural gas. “It is…