EQT Corp. is in discussions with multiple liquefied natural gas (LNG) end-users across the world and may invest in liquefaction capacity as the call for U.S. exports grows. The country’s largest natural gas producer already sells volumes to U.S. export terminals. It moves 1 Bcf/d from the Appalachian Basin to the Gulf Coast. However, the…
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Mexico’s CFE in Dispute with WhiteWater Midstream Over Natural Gas Contracts
Mexican state utility Comisión Federal de Electricidad (CFE) said it is looking into possible corruption related to natural gas contracts with WhiteWater Midstream LLC. CFE said that natural gas contracts signed in 2016 and 2017 under the previous Mexican administration are under investigation on both sides of the border for potential corrupt practices including influence…

Global LNG Buyers Said Looking to ‘Bridge’ Current Supply Crunch with Short-Term Contracts
Global liquefied natural gas (LNG) buyers, hammered by high spot prices in Asia, are increasingly looking to short-term “bridge” contracts to ensure ample supply until demand is expected to cool down later this decade, according to an analysis by Wood Mackenzie. Asian spot prices are hovering around $12/MMBtu for June and July delivery as demand…

Era of Long-term LNG Contracts in India Over, Says Gail Exec
India’s liquefied natural gas (LNG) buyers have grown frustrated with the long-term offtake contract model and are pressing U.S. sellers for more flexible terms, a Gail India Ltd. executive said Wednesday. Since prices cratered last year amid weak demand driven by the pandemic, customers have grown used to paying lower prices for delivered gas, said…

Freeport LNG CEO Questions Growing Reliance on Spot Cargoes After Volatile Winter
The cold snap earlier this winter in Asia and Europe that sent prices skyrocketing and buyers scrambling for liquefied natural gas (LNG) cargoes was an indication that the global market is becoming too reliant on spot deliveries, said Freeport LNG CEO Michael Smith. “There’s been an overreliance on spot cargoes in our industry,” he said…

ICE to Launch LNG Freight Futures Contracts in Another Effort to Manage Increasing Market Volatility
Intercontinental Exchange Inc. (ICE) said Wednesday it plans to launch two liquefied natural gas (LNG) freight futures contracts next month, giving traders, vessel charterers and other market participants another tool to manage increasingly volatile shipping costs in the space. ICE said the contracts would be based on LNG freight spot price assessments by Spark Commodities,…

Commonwealth LNG Launches Competitive Bidding to Jumpstart Louisiana Export Project
Commonwealth Liquefied Natural Gas (LNG) has launched a tender soliciting bids from potential offtakers that could acquire supply from the proposed project in Louisiana at volumes, pricing and durations of their choosing. The company is aiming to accelerate the supply contracting process by offering more flexibility. Offtakers could buy on a tolling, free-on-board (FOB) or…

Williams Given Approval to Resolve Chesapeake Midstream Contracts
Natural gas pipeline giant Williams has received a past-due payment of $112 million from Chesapeake Energy Corp. after a court approved a resolution between the two companies last month as part of the producer’s bankruptcy proceedings. The Tulsa-based pipeliner reached a global resolution in November to continue treating and moving Chesapeake’s natural gas in the…

LNG 101: The Thorny Process of Renegotiating LNG Supply Contracts
Naturgy, one of Spain’s major natural gas buyers, said last week it has negotiated new terms for two contracts with one of its primary LNG suppliers in a dual symbol of how the global gas trade is evolving and how such discussions can have varying outcomes. A supply glut and weak market made weaker by…

NGI The Weekly Gas Market Report
ICE Reports Steep Gains in Trading of Worldwide Natural Gas Contracts
The Intercontinental Exchange (ICE) said Wednesday that it continues to see record levels of open interest across its Asian, European and North American natural gas benchmarks as worldwide trade of the fuel has liberalized.