Freeport

U.S. Natural Gas Price Volatility at All-Time High in 2022

U.S. Natural Gas Price Volatility at All-Time High in 2022

Natural gas price volatility hit an all-time record earlier this year and remains elevated on weather-driven demand and soaring LNG exports, among other factors, according to the Energy Information Administration (EIA).  EIA said volatility, a measure of how much daily prices change, reached its highest level in 20 years in February. The 30-day historical volatility…

August 16, 2022
Southeast Forward Basis Prices Surge as Heat Boosts Power Loads, Stresses Natural Gas Pipelines

Southeast Forward Basis Prices Surge as Heat Boosts Power Loads, Stresses Natural Gas Pipelines

Natural gas basis prices for August skyrocketed across the Southeast during the trading period ending July 27 as searing heat ratcheted up cooling demand, NGI’s Forward Look data showed. The massive premiums occurred on top of surging fixed forward prices across North America. Henry Hub August fixed prices jumped 76.0 cents through the period to…

July 29, 2022
European Supply Tightness Boosts Gas Prices, While Asian LNG Demand Rises

European Supply Tightness Boosts Gas Prices, While Asian LNG Demand Rises

European gas prices remained high this week, supported by supply tightness due to low Norwegian flows caused by unplanned outages at the Sleipner field and Nyhamna plant, and maintenance work on Nord Stream 1 set to last until 21 July.

July 15, 2022
Supply Constraints Create Step Change Up for European Gas, Asian LNG

Supply Constraints Create Step Change Up for European Gas, Asian LNG

Russian pipe gas flows to Europe fell again and will likely remain heavily curtailed over the coming weeks. This was a key driver behind price rises at the ICIS TTF which in turn lifted the ICIS East Asia Index (EAX) back to prices last seen in March.

June 24, 2022
Brutal Heat Sends Natural Gas Futures Up Ahead of Potentially Disappointing Storage Report

Brutal Heat Sends Natural Gas Futures Up Ahead of Potentially Disappointing Storage Report

Natural gas futures continued to bounce around like a pogo stick, with bulls buying the early dip in Wednesday’s trading session and near-term heat fueling the rally. The July Nymex gas futures contract settled at $6.858/MMBtu, up 5.0 cents on the day. August futures climbed 8.9 cents to $6.872. Spot gas prices were mostly higher…

June 22, 2022
Freeport LNG Out for Months, Stranding 2 Bcf/d and Rattling Global Markets

Freeport LNG Out for Months, Stranding 2 Bcf/d and Rattling Global Markets

Freeport LNG Development LP said Tuesday it does not expect its Texas export facility to be fully repaired for months after an explosion knocked the plant offline last week. The company is now targeting late 2022 for a return to full service instead of the initial guidance of three weeks. Given that the explosion and…

June 14, 2022
Freeport LNG Out for Months, Stranding 2 Bcf/d and Rattling Global Markets

Freeport LNG Out for Months, Stranding 2 Bcf/d and Rattling Global Markets

Representatives with the liquefied natural gas (LNG) facility in Texas that suffered an explosion last week, Freeport LNG, said early Tuesday that the company does not expect the export facility to be fully repaired for months.  The company is now targeting late 2022 for a return to full service instead of the initial guidance of…

June 14, 2022
Natural Gas Forwards Plunge Following Freeport LNG News; Outage’s Duration Comes into Focus

Natural Gas Forwards Plunge Following Freeport LNG News; Outage’s Duration Comes into Focus

An explosion at the Freeport liquefied natural gas (LNG) export terminal left market participants contemplating weeks of potential demand destruction and caused a price shockwave that reverberated through the natural gas forwards market during the June 2-8 trading week. For the Lower 48 as a whole, fixed price moves were mixed in terms of the…

June 10, 2022
Asia-Europe Price Spread Narrows on Asian LNG Tenders

Asia-Europe Price Spread Narrows on Asian LNG Tenders

The spread between the European TTF and the East Asia Index (EAX) further narrowed in the past two weeks, as Asian demand rose, especially in south Asia and Japan. The market saw a flurry of Asian tenders for summer deliveries, narrowing the price spread.

June 10, 2022
Kogas Inks Long-Term Deal for U.S. LNG with BP

Kogas Inks Long-Term Deal for U.S. LNG with BP

Korea Gas Corp., aka Kogas, said Friday that it has signed a long-term contract to buy U.S. liquefied natural gas (LNG) from an affiliate of BP plc.  The company agreed to purchase 1.58 million tons (Mt) annually from BP Singapore Pte. Ltd. for an 18-year term at prices linked to Henry Hub. Kogas is one…

April 22, 2022
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