Global natural gas prices oscillated on Monday as the market reacted to supply outages in the United States and Europe. Feed gas deliveries to the Freeport LNG export terminal on the upper Texas coast sank over the weekend. The facility is scheduled this week to restart a train that went offline in January. NGI data…
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South, Southeast Asian Importers Poised to Drive Growth in New Normal for Global LNG Market – Column
The last few months have seen the European natural gas market enter a new phase of its post-Ukraine invasion existence.
U.S. Production Cuts Help Lift European Natural Gas Prices – LNG Recap
European natural gas prices continued climbing higher on Tuesday, lifted partly by the largest U.S. gas producer’s decision to curb output significantly this quarter. The Title Transfer Facility (TTF) gained across the curve, with the prompt month adding another 4% to finish about a quarter shy of $9/MMBtu on Tuesday. EQT Corp.’s announcement on Monday…
Ongoing Freeport LNG Outage Helps Lift European Natural Gas Prices – LNG Recap
Freeport LNG Development LP said Tuesday the third train at its export facility on the upper Texas coast would be offline for another two weeks, extending a month-long outage and providing support for European natural gas prices. Spokesperson Heather Browne told NGI on Tuesday that the company is working to finish motor repair work after…
Flows Return to Freeport LNG After Train 1 Compressor Issue – The Offtake
A roundup of news and commentary from NGI’s LNG Insight Feed gas nominations to Freeport LNG started to tick up again Wednesday after being curtailed over the holiday weekend, according to Wood Mackenzie pipeline data. The Texas facility reported an outage at Train 1 on Feb. 16 caused by a compressor issue, according to a…
BP, Adnoc East Mediterranean Partnership to Advance Egyptian Natural Gas
Abu Dhabi National Oil Co. (Adnoc) and BP plc are creating a joint venture (JV) focused on Egyptian natural gas production as conflict in Israel and Palestine continues to pressure Eastern Mediterranean energy exports. The new JV, majority-owned by BP (51%), would include the London-based major’s interest in three offshore development concessions, as well as…
Global Natural Gas Prices Continue Freefall Amid Spiraling Demand, Warm Weather – LNG Recap
Warm weather across the Northern Hemisphere continues to drag down global natural gas prices as demand remains weak and supplies are healthy. Title Transfer Facility (TTF) and Japan-Korea Marker (JKM) futures have fallen by over 30% since the start of winter. “The key drivers behind falling prices have been a mild winter, ongoing demand weakness…
DOE’s LNG Pause Fogs Long-term LNG Supply Outlook for Asian, European Natural Gas Buyers
The Biden administration’s temporary pause on new U.S LNG export permits has for now derailed an anticipated wave of new volumes that was expected to hit the market later this decade, prompting major global gas buyers to explore other options. Asia and Europe have increasingly relied on the United States for a large portion of…
Norwegian Production Outage Fails to Lift TTF Higher – LNG Recap
European natural gas prices gave up last week’s gains on Monday, despite an unplanned outage at a top field in Norway and ongoing conflict in the Middle East. Norwegian natural gas exports to the continent were nominated at 286 million cubic meters (MMcm) on Monday, down from recent levels of 340 MMcm/d due to unplanned…
A New Normal Has Settled in for the Global Natural Gas Market – Column
The global natural gas market has traveled quite a long distance over the last 12 months.