Asian LNG prices remain higher than those in Europe as weak demand, high storage inventories and mild weather on parts of the continent are keeping a lid on the cost of natural gas. The August Title Transfer Facility (TTF) contract fell by 12% last week and the Japan-Korea Marker (JKM) prompt futures contract followed suit…
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Europe Looks Set for Summer, but Upside Risk Looms in Tight Global Natural Gas Market – Column
Editor’s Note: This column is part of a regular series by industry veteran Brad Hitch for NGI’s LNG Insight dedicated to addressing the complexities of the global natural gas market. One of the themes that has been touched upon is the increasing integration of the global gas market. This means U.S. integration with the rest…
Strengthening Cash Prices Reflect Arrival of Summer Heat, Propel Natural Gas Futures
Natural gas futures eked out a narrow gain on Monday despite shifts in weather forecasts and continued reminders of robust supplies. Following a 9.8-cent loss Friday, the July Nymex gas futures contract picked up 1.2 cents day/day and settled at $2.266/MMBtu, bolstered by strength in cash markets. August advanced a half-cent to $2.336. At A…
LNG Exports Seen Boosting North American Natural Gas Demand Through Next Decade and Beyond
North American natural gas demand is likely to grow by roughly 25% over the next 10 years and stay resilient through 2050 as the world shifts to lower-carbon energy, according to new projections from Wood Mackenzie. LNG exports are expected to drive the incremental demand, which will largely be supplied through continued growth in associated…
Opal Fuels Sees Heavy-Duty Trucking Bulking RNG Demand
Renewable natural gas (RNG) producer and distributor Opal Fuels Inc. is advancing production projects as “more and more fleets switch over and demand continues to build for RNG as transportation fuel,” co-CEO Adam Comora said during the first quarter update. Opal, the second-largest U.S. RNG fuel station operator, according to company estimates, is building up…
G7 Leaders Leave Door Open to New Natural Gas Investments
Energy and environment ministers from the Group of Seven (G7) economically advanced nations, including the United States, agreed to ramp up electricity generated by renewable energy sources to accelerate the transition away from fossil fuels. Yet the ministers, recognizing global demand shifts amid Russia’s war in Ukraine and the particular energy needs of meeting host…
Winter Natural Gas Consumption Falls to Multiyear Lows in 2023, EIA Says
Mild winter temperatures across much of the central and eastern United States reduced heating demand and dropped domestic natural gas consumption to the lowest levels in years. Following a cold start to winter last December, benign weather prevailed over the first two months of this year. As a result, in January, U.S. natural gas consumption…
Natural Gas Futures Prices Bounce Higher on Cooler Late April Forecast, Short-Covering
Still on a sugar high from too many Cadbury eggs over the Easter holiday weekend, natural gas futures prices soared as weather data showed cool weather returning to the Lower 48 in about a week’s time. With some short-covering likely aiding the rally, the May Nymex natural gas contract settled Monday’s regular session at $2.172/MMBtu,…
Natural Gas Futures Struggle Amid Looming Expiry, Shifting Weather; Spot Prices Climb
Natural gas futures kicked off the new week on a low note, slumping alongside warmer trends in weather forecasts, lighter LNG demand and continued robust production levels. At A Glance: Front month sheds 12.8 cents Weather outlook adds warmth Production holds at 100 Bcf/d The April Nymex gas futures contract settled at $2.088/MMBtu, down 12.8…
American E&Ps Maintain Pandemic-Era Peak Oil Production; Inventories Mount
U.S. crude output last week held at robust levels as American exploration and production (E&P) companies remained active to bolster domestic supplies and help meet global demand. E&Ps generated 12.3 million b/d for the week ended Feb. 24. That was on par with the highest level since March 2020, when the pandemic was declared. U.S.…