Asia

The United States accounted for all of the world’s new liquefied natural gas (LNG) production capacity last year, as exports grew despite challenges created by the Covid-19 pandemic, according to the 12th annual World LNG Report by the  International Gas Union (IGU). Cameron, Freeport and Elba Island LNG added 20 million tons (Mt) of annual…

Natural gas prices in Europe and Asia pressed higher last week, topping multi-month highs and continuing a bull run that has persisted for much of the spring.  In Europe, prompt prices notched their third straight week of gains. The Title Transfer Facility contract broke through $9.00/MMBtu and closed well beyond that mark most of the…

Plans to develop a liquefied natural gas (LNG) export facility on Mexico’s west coast are moving steadily forward as the project is garnering more interest from potential offtakers in Asia. Mexico Pacific Ltd. LLC, the Houston-based company developing the project, signed a fifth memorandum of understanding (MOU) with a potential buyer in December, CEO Doug…

A rally in Asian and European natural gas prices lost steam last week, but fundamentals remain unchanged as the coming months are still expected to be tight.  European futures closed higher on Tuesday, recovering some of last week’s losses as the near-term curve was lifted by lingering cold, weak Russian pipeline imports and ongoing strength…

It’s shaping up to be a drastically different summer for U.S. liquefied natural gas (LNG) exporters as the global market has unexpectedly tightened and demand has spiked in a reversal of fortunes from last year when trade slumped to historic lows.  “Things changed a lot,” said Rystad Energy’s Carlos Torres Diaz, head of gas and…

Resilient demand in Asia and colder weather in Europe supported global natural gas prices at the start of the week, further strengthening the outlook for U.S. liquefied natural gas (LNG) exports.  Both near-curve Title Transfer Facility and National Balancing Point contracts in Europe closed higher Monday. Temperatures across the continent are expected to trend cooler…

Global liquefied natural gas (LNG) supplies are expected to rise by 43 million metric tons/year (mmty) this summer with the United States in the lead, according to Goldman Sachs Group Inc. The investment bank’s analysts projected domestic LNG exports could grow by 35 mmty this summer from 2020 levels, as flows normalize. By comparison, leading…

European Union (EU) natural gas storage inventories are trending below the 5-year average, setting the stage for a potential boost for U.S. exporters in the coming weeks and months. “Low EU gas stocks are good news for U.S. LNG exporters, notably as U.S. LNG netbacks are relatively high for both Asia and Europe, which should…

Global natural gas prices retreated Tuesday, pushed lower by varying factors including warmer weather in Asia and a stronger supply outlook in Europe.  Japan Korea Marker spot prices for late April delivery were assessed at nearly $7.00/MMBtu Tuesday, up from less than $6.00 about a week ago when prices started climbing on stronger buying activity.…