U.S. Natural Gas Said Not Enough to Backstop Thirsty and Desperate Global Markets

The global natural gas squeeze has been festering, but U.S. cargoes to overseas markets are unlikely to save the day as winter draws near, according to a group of industry experts. In a series of webinars hosted Tuesday by Raymond James & Associates Inc., executives offered their views on the risks facing the gas markets…

Natural Gas Prices Continue Hot Streak as Uncertain Winter Looms – Mexico Spotlight

U.S. natural gas forward prices for November stayed in the range between $5.00 and $6.00/MMBtu this week as European and Asian energy markets continued to pressure the global benchmarks. “Despite these prices, natural gas demand is high,” a Mexico City-based gas buyer told NGI’s Mexico GPI. Imports from the United States rose week/week. On Thursday,…

October 14, 2021

Natural Gas Forwards Retreat on Shrinking U.S. Storage Deficit; Global Market Raises Stakes

A narrowing Lower 48 storage deficit saw natural gas forwards ease lower during the Oct. 7-13 trading period, even as global supply anxieties continued to ripple through the domestic market. Front-month forwards at benchmark Henry Hub closed out the trading period 8.7 cents lower week/week amid continued volatility in the market ahead of winter. The…

October 14, 2021

Biden Administration Aiming for Coast-to-Coast Offshore Wind Sales by 2025

The United States is looking to hold up to seven lease sales by 2025 to expand offshore wind energy capacity from coast to coast. The Biden administration has set a goal to expand U.S. offshore wind capacity to 30,000 MW by 2030, which could power more than 10 million homes. The United States now has…

October 14, 2021

Phillips 66, Plug Power Team Up to Develop Low Carbon Hydrogen Businesses

Houston-based energy manufacturing and logistics firm Phillips 66 and fuel cell manufacturer Plug Power Inc. have signed a memorandum of understanding (MOU) to collaborate on the development of low-carbon hydrogen business opportunities. Phillips 66 already owns hydrogen-related infrastructure and uses hydrogen in the manufacturing of transportation fuels. Plug Power, meanwhile, is developing green hydrogen production…

October 14, 2021