Europe

Natural Gas Forward Prices Starting to Crack, but Supply Concerns Still Festering

Natural Gas Forward Prices Starting to Crack, but Supply Concerns Still Festering

After four solid weeks of steep increases, natural gas forward prices buckled during the trading period ending Tuesday as the start of the fall season ushered in cooler weather and a decline in demand. October prices plunged an average of 54.0 cents from Sept. 16-21, while November tumbled 55.0 cents on average, according to NGI’s…

September 23, 2021

Freeport LNG Working Through Tanker Backlog — The Offtake

A roundup of news and commentary from NGI’s LNG Insight Freeport LNG is working through a backlog of tankers this week. The vessel Prism Brilliance was loading at the terminal Thursday. Five vessels are waiting in the Gulf of Mexico to load at Freeport and three more are on their way, according to Kpler. No…

September 23, 2021
Tribes Partnering on Proposed Canadian LNG Export Terminal in Newfoundland

Tribes Partnering on Proposed Canadian LNG Export Terminal in Newfoundland

A Newfoundland candidate to launch liquefied natural gas (LNG) exports from Canada’s Atlantic coast stepped forward Tuesday with a prospective native partner and support from the provincial government. LNG Newfoundland & Labrador Ltd., Miawpukek First Nation, the First Nations Major Projects Coalition and provincial Premier Andrew Furey unveiled a “framework agreement” for a C$10 billion…

September 22, 2021
Latin American LNG Demand Booming Amid Tight Global Natural Gas Market

Latin American LNG Demand Booming Amid Tight Global Natural Gas Market

Latin American liquefied natural gas (LNG) demand has had a record year in 2021 and it is not letting up, tightening a global gas market that has sent prices spiking around the world. Imports of LNG into Latin America for the first eight months of the year added up to 10.44 million tons, according to…

September 21, 2021
Russia Pressured by IEA to Ease Europe’s Natural Gas Crisis

Russia Pressured by IEA to Ease Europe’s Natural Gas Crisis

The International Energy Agency (IEA) said Tuesday market fundamentals rather than the energy transition are to blame for record natural gas prices in Europe, but it stressed that Russia could be doing more to help ease the crisis.  European natural gas prices increased by nearly 16% Monday, with the front-month UK benchmark finishing close to…

September 21, 2021
Cove Point, Freeport Production Curbed as Energy Crisis Deepens in Europe — LNG Recap

Cove Point, Freeport Production Curbed as Energy Crisis Deepens in Europe — LNG Recap

Natural gas prices continued to rise in Asia and Europe on Monday as competition intensified for limited liquefied natural gas (LNG) cargoes on the spot market with two U.S. facilities down.  Freeport LNG in Texas continues to experience production issues after Tropical Storm Nicholas knocked out power last week. The facility has not fully restarted…

September 20, 2021
‘Return of North American LNG FIDs’ Seen in 2022 — LNG Spotlight

‘Return of North American LNG FIDs’ Seen in 2022 — LNG Spotlight

The environment for North American liquefied natural gas (LNG) final investment decisions is looking brighter in 2022, with buyer interest in long-term contracts on the rise amid record-high spot prices. While the Covid-19 pandemic caused global demand to soften and resulted in project delays in 2020 and 2021, a handful of North American projects are…

September 17, 2021

European Manufacturers Halt Production, Citing Natural Gas Prices; Freeport LNG Still Offline — The Offtake

A roundup of news and commentary from NGI’s LNG Insight  U.S. manufacturer CF Industries Holdings Inc. and Norwegian chemical producer Yara International ASA announced closures of their facilities because of extraordinarily high European natural gas prices, which neared $30/MMBtu this week. Yara said 40% of its European ammonia production capacity would be shut down next…

September 17, 2021
European Industrial Blackouts Said Possible This Winter Amid Soaring Natural Gas Prices

European Industrial Blackouts Said Possible This Winter Amid Soaring Natural Gas Prices

Some of Europe’s industrial power consumers could face blackouts this winter if natural gas prices climb any higher, analysts with Goldman Sachs Commodities Research warned this week.  European benchmarks have soared to new heights as storage inventories remain short with colder weather approaching and traders baking in a winter risk premium. Goldman analysts led by…

September 16, 2021
No End in Sight for Surging October Natural Gas Futures, Spot Prices

No End in Sight for Surging October Natural Gas Futures, Spot Prices

Natural gas futures on Wednesday rallied for a third consecutive session, again touching a new high for the year as traders fixated on potentially sparse supplies in the United States and Europe ahead of the peak winter demand season.  At A Glance: Futures rally a third straight day Storage worries weigh on markets Cash prices…

September 15, 2021
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