ExxonMobil Affiliate Signs Binding Offtake Deals With Mexico LNG Project

Mexico Pacific Limited LLC (MPL) and ExxonMobil LNG Asia Pacific have signed two long-term offtake agreements for MPL’s Saguaro Energía liquefied natural gas export terminal proposed for Puerto Libertad in Mexico’s Sonora State. Under the 20-year sales and purchase agreements (SPA), the ExxonMobil subsidiary would purchase a combined 2.0 million metric tons/year (mmty) of LNG…

Natural Gas Futures Up Again; Chilly Weather Lifts West Coast Cash as Key Pipeline’s Return Imminent

Natural gas futures churned out another price gain on Tuesday, with analysts largely seeing the move higher as technically driven rather than fueled by any significant change in the supply/demand balance. The March Nymex gas futures contract climbed 12.7 cents  on the day to $2.584/MMBtu, while April futures picked up 12.9 cents to $2.664. Spot…

February 8, 2023

Natural Gas Futures Recover Slightly, but Bearish Headwinds Persist

Coming off a week in which natural gas futures tumbled nearly 30 cents at the front of the curve, the Nymex March contract appears to be trying to find a bottom. The prompt month traded mostly range bound throughout Monday’s session before ultimately settling 4.7 cents higher at $2.457/MMBtu. Spot gas prices continued to decline,…

February 7, 2023

U.S. Natural Gas Exports to Mexico Dipped in 3Q2022, But Fetched Higher Prices, Says DOE 

Exports of U.S. natural gas to Mexico by pipeline and truck totaled 536.9 Bcf in the third quarter of 2022, averaging about 5.9 Bcf/d, according to the U.S. Department of Energy (DOE). This was down from 570.7 Bcf or 6.27 Bcf/d during 3Q2021. DOE publishes a quarterly report on U.S. natural gas imports and exports.…

February 6, 2023

Modest Gains for Natural Gas Futures Early as Market Searches for Support

Natural gas futures climbed modestly in early trading Monday as recent weather model runs teased colder temperatures developing later this month, albeit with extremely mild conditions in the interim.  Paring losses from Friday’s session, the March Nymex contract was up 3.3 cents to $2.443/MMBtu at around 8:40 a.m. ET. Models over the weekend maintained “exceptionally…

February 6, 2023