Freeport

A roundup of news and commentary from NGI’s LNG Insight Freeport LNG Development LP filed a certificate of compliance report at FERC late Wednesday, bringing the project one step closer to restarting after an explosion knocked the facility offline in June. The document was confidential and unavailable to the public. The company is still targeting…

TotalEnergies SE reported a 10% sequential decline in second quarter LNG sales, but stronger prices for the super-chilled fuel helped the company cruise to a record profit. The sales decline was mainly due to the outage at the Freeport liquefied natural gas terminal on the Upper Texas coast, where TotalEnergies has long-term offtake agreements in…

Forecasts for dramatic warm-up after this week’s snowy, chilly week sent natural gas futures prices tumbling on Monday. The November Nymex gas futures contract plummeted 45.4 cents to $5.999/MMBtu, while December futures dropped 34.8 cents to $6.479. At A Glance: Weather models agree on warmth’s return Production recovers above 100 Bcf/d Chilly temperatures seen through…

Freeport LNG Development LP now has until August 2028 to complete the fourth train at its export facility on the Upper Texas coast after FERC granted an authorization extension for its expansion project. In an order published Thursday, the Federal Energy Regulatory Commission agreed that the Covid-19 pandemic and resulting supply chain issues had severely…

ExxonMobil is looking to report better-than-expected profits for the third quarter, lifted by stronger natural gas prices. The Irving, TX-based supermajor previewed the quarterly results In a Securities and Exchange Commission Form 8-K filing. The filing provides a “perspective regarding market and planned factors affecting 3Q2022,” relative to sequential results, the company said. “These factors…

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…

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…

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.

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.