March Nymex natural gas futures sank another 8.0 cents as the market searched for a low that would coax producers to trim output amid dashed hopes for enough cold weather to tighten supplies ahead of the shoulder season. At A Glance: March futures crumble 8.0 cents No demand support from weather Producer signals strong output…
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Asia Could Drive 50% Rise in Global LNG Demand By 2040, Shell Says
Shell plc has tempered its expectations for peak LNG demand over the next two decades, but the top natural gas trader still expects the current buildout of export capacity led by the United States to fall short of rising global consumption driven by Asia. In its latest liquefied natural gas market outlook, the London-based integrated…
U.S. LNG Contracting Slowed in 2023 as Global Natural Gas Prices Stabilized, EIA Says
While LNG export capacity in the United States is set to continue ballooning through the end of the decade, the pace of supply contracts could be cooling for terminal projects still in development, according to the Energy Information Administration (EIA). Last year marked another leap forward for U.S. liquefied natural gas export expansions, with three…
EIA Forecasts ‘Balanced’ Global LNG Market This Winter, Aided by More U.S. Exports
As the Northern Hemisphere nears what could be a milder winter compared to last year, Energy Information Administration (EIA) researchers expect U.S. LNG exporters to further expand their role as a balancing force in the global spot market. In EIA’s latest winter liquefied natural gas market outlook, researchers wrote that most key natural gas markets…
EU Regulator Calls for Natural Gas Demand Cuts Over ‘Subsidizing’ LNG
The European Union’s (EU) energy regulatory agency has recommended bloc members continue reducing natural gas consumption in the short-term and prioritize energy projects that cut future demand. Since European natural gas prices rose to peak levels last summer, the region’s supply and demand balance has found an uneasy equilibrium thanks to demand reduction policies and…
Gazprom’s Natural Gas Export Woes Bode Well for Growing American LNG Complex
Citing fallout from the war in Ukraine, Russian natural gas behemoth Gazprom PJSC said its net income for the first half of 2023 plummeted. The steep drop came after Russia cut off most exports to Europe last year after it invaded Ukraine. The continent has also reduced its reliance on Russian natural gas, turning instead…
Production Hit, Heat Not Enough to Propel Natural Gas Futures, Spot Prices
Natural gas futures lost momentum on Wednesday, despite intense near-term heat and lower production estimates. Coming off an 11.7-cent gain, the August Nymex gas futures contract shed 2.6 cents day/day and settled at $2.603/MMBtu. September fell 3.3 cents to $2.585. At A Glance: 40s Bcf injection expected Production slides further Signs of strong LNG demand…
EU, Japan Agree to Natural Gas Cooperation Amid Deep Structural Market Changes
The European Union (EU) and Japan, two of the world’s largest importers of natural gas, agreed this week to strengthen energy cooperation by establishing an EU-Japan energy security dialogue focused on global LNG flows. The partnership will work to improve global security of supply, transparency of markets and reduction of methane emissions in the liquefied…
Europe’s Reliance on Diverse Pool of LNG Sources Continues Year After Ukraine Invasion
A year after Russia’s invasion of Ukraine splintered the energy landscape in Europe, the region is continuing to diversify its natural gas supply, thanks in part to a wave of LNG imports. However, it still faces years of possible shortages as global export capacity remains tight. Since last February, liquefied natural gas imports have taken…
U.S. Agrees to Boost UK’s LNG Imports Via ‘Energy Security’ Partnership
The U.S. government has committed to exporting up to 353 Bcf of natural gas to the UK next year as part of a strategic partnership aimed at strengthening commodity markets in Europe. As a part of the initiative disclosed Wednesday, called the UK-US Energy Security and Affordability Partnership, the countries have formed a joint action…