Shifting global gas supply and demand fundamentals have moved Kitimat LNG Inc. to revise its plans for a liquefied natural gas (LNG) import terminal to instead construct an export terminal near Kitimat, British Columbia (BC), on the Bish Cove site where it had planned to construct the import facility.
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Moderate Weather Spurs Drops at Most Points
While cooling load is due to grow in some areas Thursday and recede in others, the market saw too much overall weakness in weather fundamentals to sustain Tuesday’s general rally and fell at most points Wednesday. In addition, the screen had provided minuscule negative guidance for cash prices with a 1.9-cent drop by September futures Tuesday, and the perception of potential tropical storm threats to Gulf of Mexico production retreated somewhat.
NatGas Futures Move Higher as Crude Sets Another Record
Sparked by roaring crude prices, shaky fundamentals and summer heat and storm uncertainty, August natural gas futures jumped 15.5 cents on Monday to close at $13.353/MMBtu, a new high close for the up move.
Most Prices Fall; Midcontinent, Rockies Strongest
A day after a mostly rising cash market ignored general weakness in weather fundamentals, most points were down Wednesday in recognition of the dearth of weather-based support, even though cooling load was forecast to be growing a bit in some areas Thursday. The overall physical market also failed to get a boost in value from Tuesday’s second straight day of a 15.2-cent futures advance.
U.S. Gas Drilling Seen Up 2% in ’08, 10% in ’09
Natural gas market fundamentals suggest that U.S. drilling activity could rise by only 2% this year but increase by 10% in 2009, according to an analysis by SunTrust Robinson Humphrey/the Gerdes Group (STRH).
U.S. Gas Drilling Seen to Rise 2% in ’08, 10% in ’09
Natural gas market fundamentals suggest that U.S. drilling activity could rise by only 2% this year but increase by 10% in 2009, according to an analysis by SunTrust Robinson Humphrey/the Gerdes Group (STRH).
Fitch: Fundamentals Point to Lower Gas Prices Going Forward
Fundamentals point to lower natural gas prices in 2008, but for the near-term, gas prices will continue to be supported by high oil prices, Fitch Ratings analysts said in a report. Longer term, however, prices may fall dramatically.
Fitch: Fundamentals Point to Lower Gas Prices Going Forward
Fundamentals point to lower natural gas prices in 2008, but for the near term gas prices will continue to be supported by high oil prices, Fitch Ratings analysts said in a report Tuesday. Longer term, however, prices may fall dramatically.
If Winter Is a No-Show (Like Hurricanes), Look for a Sell-Off, Say Traders
Despite some bearish fundamentals gas prices remain strong, but unless some significant winter-like weather shows up in the next 30-45 days the gas market “has the possibility to really sell off meaningfully,” the manager of hedge fund Terra Verte Trading LP said last week.
If Winter Is a No-Show (Like Hurricanes), Look for a Sell-Off, Say Traders
Despite some bearish fundamentals gas prices remain strong, but unless some significant winter-like weather shows up in the next 30-45 days the gas market “has the possibility to really sell off meaningfully,” the manager of hedge fund Terra Verte Trading LP told conference attendees Monday.