Weather dominated natural gas forward price action for a third consecutive week, sending prices through the winter lower despite record export demand and cuts to production, according to NGI’s Forward Look. However, losses were less severe than the prior two weeks, and prices stabilized a bit for the summer 2021 strip (April-October) and beyond, with…
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New Jersey LNG Export Terminal Wins Key Regulatory Approval
A small-scale liquefied natural gas (LNG) export terminal proposed for New Jersey has cleared another regulatory hurdle after the Delaware River Basin Commission (DRBC) this week voted to uphold a decision approving a key part of the project. DRBC, a quasi-regulatory agency involving four states and the U.S. government that oversees the Delaware River watershed,…
Costa Azul Natural Gas Export Project in Mexico Gathers Steam With Total Signing
France’s Total SE has joined Sempra Energy subsidiaries Sempra LNG and Infraestructura Energética Nova (IEnova) in developing Mexico’s first natural gas export project. Total management said Tuesday the company now holds a 16.6% equity share of the Energía Costa Azul (ECA) liquefied natural gas (LNG) project set for Ensenada in Baja California on Mexico’s Pacific…
TruMarx CEO Sees Digitalization as Key to Meeting Growing LNG Trading Requirements
Jon Olson, co-founder of TruMarx Data Partners Inc., believes the liquefied natural gas (LNG) business is “hamstrung” by antiquated processes to buy and sell the super-chilled fuel, but his company is among many that are racing to digitalize the space and boost liquidity with a modern trading platform. NGI: Can you briefly explain TruMarx’s business…
LNG Recap: U.S. Feed Gas Deliveries Hit High Gear as Spreads to Asia, Europe Remain Strong
Feed gas deliveries to U.S. export terminals hit new highs over the weekend, peaking Saturday at 11.48 Bcf as spreads between the Gulf Coast, Asia and Europe remain strong, according to NGI data. Pipeline shipments to liquefied natural gas terminals were near 11 Bcf/d throughout last week, flowing at some of their strongest levels since…
Natural Gas Longs Scurry for Exits, Send Forward Prices Crashing Lower
Wrapping up one of the warmest Novembers in U.S. history, natural gas winter forward prices plunged during the Nov. 25-Dec. 2 period as the weather outlook for December grew milder, according to NGI’s Forward Look. January prices averaged 18.0 cents lower over the period, which included the extended Thanksgiving holiday, while the balance of winter…
Sempra to Unify U.S., Mexican LNG Subsidiaries
Sempra Energy on Wednesday unveiled a plan to unify its U.S. and Mexico subsidiaries that own liquefied natural gas (LNG) assets. The move to combine Sempra LNG and Mexican firm Infraestructura Energética Nova (IEnova) comes after the San Diego-based operator last month funded construction of the $2 billion Energia Costa Azul (ECA) LNG export terminal,…
LNG Recap: Cold Weather Extends Global Natural Gas Price Gains
Global natural gas prices on Monday extended gains made last week as colder weather has settled in key markets across the world, driving demand for liquefied natural gas (LNG) exports. Henry Hub for January delivery continued to climb Monday on colder temperatures forecast for parts of the southern and eastern United States. U.S. natural gas…
U.S. Natural Gas Prices to Average $3.30 in 2021, with Summer Even Higher, Says BofA
U.S. natural gas prices are forecast to average $3.30/MMBtu in 2021, with even higher prices predicted next summer, according to BofA Securities. The analyst team led by Francisco Blanch, head of commodities and derivatives research, discussed the outlook for energy overall during a webcast on Tuesday. “The bottom line is that higher prices are needed…
MPL Chief Sees Room for Three LNG Export Projects on Mexico’s Pacific Coast
Mexico’s Pacific Coast could see more than one natural gas export project being developed in the coming years as Asian markets increase their appetite for imports of cheap and reliable U.S. gas via the shortest transport route possible. Mexico Pacific Ltd. LLC’s (MPL) CEO Doug Shanda thinks his company’s liquefied natural gas (LNG) export project…