Exports

Baker Hughes Sees Uptick in Covid-Related Remote Operations, with Longer-Term LNG Outlook Still Positive

Baker Hughes Sees Uptick in Covid-Related Remote Operations, with Longer-Term LNG Outlook Still Positive

Covid-19 has created near-term challenges, but Baker Hughes Co. has seen positives as its remote services capabilities expand to serve customers. In addition, the outlook for global natural gas continues to be solid, CEO Lorenzo Simonelli said Wednesday. Simonelli shared second quarter results and insight on the opportunities and challenges ahead during a conference call…

July 22, 2020
Cooling Demand Stays Strong Enough to Boost August Natural Gas Futures

Cooling Demand Stays Strong Enough to Boost August Natural Gas Futures

Expectations for strong near-term cooling needs buoyed gas prices New indications that U.S. exports could recover later in 2020 proved another positive Fallout from the coronavirus remains a major wildcard August natural gas futures gathered momentum on Tuesday, buoyed by expectations for strong near-term cooling demand and new indications that U.S. exports could recover later…

July 22, 2020
August Natural Gas Futures Dive Lower Following Forecasts for Easing Heat Intensity

August Natural Gas Futures Dive Lower Following Forecasts for Easing Heat Intensity

Absent other demand catalysts, a modest pullback in the intensity of heat expected by forecasters was enough to push down August natural gas futures on Monday as coronavirus concerns and worries about meager export levels lingered. The August Nymex contract declined 7.7 cents day/day and settled at $1.641/MMBtu. Futures were off more than 10 cents…

July 20, 2020
Natural Gas Forward Prices Steady as Bulls, Bears Fight for Control Amid Depressed Export Demand

Natural Gas Forward Prices Steady as Bulls, Bears Fight for Control Amid Depressed Export Demand

Coming off a sharp surge from the prior week, natural gas forwards sputtered a bit during the July 9-15 period as spiking coronavirus cases across the United States threatened continued economic and energy demand recovery, according to NGI’s Forward Look. Meanwhile, higher oil prices have incentivized producers to return to the oil patch, resulting in…

July 17, 2020
U.S.-Mexico Natural Gas Pipeline Exports Showing Resilience Despite Pandemic Complications

U.S.-Mexico Natural Gas Pipeline Exports Showing Resilience Despite Pandemic Complications

Even as the coronavirus rages on, impacting both natural gas demand and production, pipeline natural gas exports from the United States to Mexico continue to show strength. On July 8, U.S. piped exports to Mexico hit the 6.2 Bcf/d mark, the highest level ever reached in cross-border flows in a single gas day, according to…

July 14, 2020
Argentina Fetches Lowest Price in 12 Years for Full Complement of Winter LNG Cargoes

Argentina Fetches Lowest Price in 12 Years for Full Complement of Winter LNG Cargoes

Argentina’s state-owned Integración Energética Argentina (Ieasa) has purchased 28 liquefied natural gas (LNG) cargoes for the Southern Cone winter at a record price of $2.87/MMBtu on average, the company said on Monday. Despite growing domestic gas production from the Vaca Muerta formation and plans to develop large-scale LNG facilities, Argentina continues to import LNG in…

July 14, 2020

LNG Recap: Lack of Export Demand has U.S. Storage on Track to Fill by Fall

Feed gas deliveries to U.S. LNG terminals hit a new low last week as global prices are still weighed down by a supply glut and demand for American exports remains subdued given high storage inventories in Asia and Europe.  Genscape Inc. noted that feed gas volumes fell to 2.8 Bcf on Thursday, while NGI’s export…

July 13, 2020
Slumping Demand to Hold Henry Hub Price to $1.93 in 2020, Says EIA

Slumping Demand to Hold Henry Hub Price to $1.93 in 2020, Says EIA

Continuing economic sluggishness brought on by Covid-19 mitigation efforts is weighing down demand for natural gas, but there could be a price uptick on the horizon, according to the U.S. Energy Information Administration (EIA). Henry Hub spot prices are expected to average $2.46/MMBtu in 4Q2020, bringing the 2020 average to $1.93/MMBtu, EIA said in its…

July 7, 2020
Report Warns Weak Global Market Has Created a ‘Gas Bubble’

Report Warns Weak Global Market Has Created a ‘Gas Bubble’

A “perfect storm” of oversupply, low prices and the Covid-19 pandemic has snarled billions of dollars worth of liquefied natural gas (LNG) projects, creating a bubble that could burst if the outlook doesn’t improve on multiple fronts, according to a report by Global Energy Monitor. GEM said Monday that the landscape for LNG has drastically…

July 7, 2020
EIA Sees Ramp-Up of U.S. Natural Gas Exports to Mexico, Strengthening Waha Prices

EIA Sees Ramp-Up of U.S. Natural Gas Exports to Mexico, Strengthening Waha Prices

The United States Energy Information Agency (EIA) said in a note on Monday that it expects Mexico natural gas exports to rise quickly with the entry into operation of the Villa de Reyes-Aguascalientes-Guadalajara (VAG) pipeline. The 890 MMcf/d VAG pipeline is the final stretch of a system that runs from the Permian Basin in West…

July 6, 2020