Earnings

Canada’s largest natural gas producer, Tourmaline Oil Corp., is using hedging and a diversified marketing strategy to counteract low prices for the commodity in Western Canada, management said.  CEO Michael Rose hosted a conference call to discuss first quarter earnings for Tourmaline, which operates in the Alberta Deep Basin, the Montney Shale and the Peace…

Regulatory

The European Commission (EC) this week is considering a ban on transshipments or re-exports of Russian LNG through European Union (EU) ports as part of Brussels’ latest sanctions package.  The UK, Poland, Estonia, Latvia, Lithuania, and Germany have banned Russian liquified natural gas imports, but an EU-wide ban on Russian LNG imports is not included…

Natural Gas Prices

The U.S. Energy Information Administration (EIA) is projecting a Henry Hub natural gas spot price average at $2.20/MMBtu for 2024, unchanged from the average price the agency modeled a month earlier.  In the May release of its Short-Term Energy Outlook (STEO), published Tuesday, EIA said it expects Henry Hub spot prices to average $3.10 for…

Mexico

Mexico’s dependency on the United States for natural gas supplies is expected to continue to rise and hit record levels during the country’s next presidential administration from 2024-2030, according to Adrián Duhalt, a research scholar at Columbia University’s Center on Global Energy Policy. Mexico’s natural gas imports via pipeline have averaged 6.08 Bcf/d year-to-date through…