As the United States works toward casting a wider net on the global natural gas market via exports, key domestic markets could be turned upside down in 2023 as midstream bottlenecks leave gas stranded in producing basins. LNG developers on the Gulf Coast are in a race to boost liquefied natural gas exports to capitalize…
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Upward Momentum Stalls on Moderating Forecasts as Natural Gas Futures Slide; Cash Discounts Widespread
Natural gas futures reversed lower Wednesday as the intensity of frigid temperatures expected into the back half of December moderated somewhat in the latest forecasts. The January Nymex contract plunged 50.5 cents to settle at $6.430/MMBtu. At A Glance: Profit-taking driven by milder temps, Freeport ‘Potent Arctic blast’ still seen next week Cash plummets as…
December 14, 2022
Natural Gas Futures Flop Following Production Bump, Mixed Weather Outlook; Cash Prices Climb
Natural gas futures gave up ground Wednesday as traders absorbed reports of increased production, uneven weather-driven demand and the potential to avert a railroad strike. At A Glance: Gas production bounces back Markets mull evolving weather Analysts see storage pull in 80s Bcf The January Nymex natural gas futures contract, a day after edging ahead…
November 30, 2022
Freeport LNG Delays Possible Restart to December, Aims for 2 Bcf/d by January
Freeport LNG Development LP is aiming to restart its Texas natural gas export facility in mid-December, spending the rest of the month finishing reconstruction work and fulfilling regulatory requirements. The operator of the 2.38 Bcf/d liquefied natural gas export terminal previously guided that it could repair the damage from a June explosion and restart sometime…
November 18, 2022
Natural Gas Futures Extend Win Streak as Freezing Weather Overshadows Bearish Risks, Supports Prices
Natural gas futures edged higher again on Wednesday, extending a rally to three days, as traders ultimately paid more attention to robust heating demand than the protracted shutdown of a key export facility and the likelihood of a relatively robust storage injection. At A Glance: Cold weather remains at forefront Analysts expect large storage build…
November 16, 2022
Review Ties Freeport LNG Explosion to Possible Human Error, Worker Fatigue
Freeport LNG Development LP is developing new testing protocols and expanding its staff at the export facility after a third-party review highlighted process failures and human error as possible factors in a summer explosion. The operator of the 2.38 Bcf/d liquefied natural gas export terminal on the upper Texas coast has been reviewing the cause…
November 16, 2022
Freeport LNG Still Aiming for Restart This Month as it Prepares Site, Documentation
Freeport LNG Development LP is still planning to meet its previous guidance of a partial restart of its liquefaction facility later this month, according to representatives with the company, while regulators await final documentation. The 2.38 Bcf/d liquefied natural gas export terminal on the upper Texas coast has been offline since a June explosion attributed…
November 2, 2022
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