imports

Argentina has commissioned a second floating, storage and regasification unit (FSRU) to meet higher-than-expected natural gas demand this upcoming winter in the Southern Hemisphere. The country’s natural gas buyer, Integración Energética Argentina (Ieasa), has leased an Excelerate Energy LP FSRU for the Bahía Blanca port. This will add to the existing FSRU now stationed at…

Natural gas futures crashed on Monday as production appeared to be making a quick recovery from the unrivaled Arctic blast that rocked the energy industry last week. Warming weather models also provided a headwind to prices, with the March Nymex gas futures contract tumbling 11.6 cents to settle at $2.953. April slid only 5.5 cents…

Poland’s state-owned natural gas company said its liquefied natural gas (LNG) imports totaled 3.76 billion cubic meters (Bcm) in 2020, or 10% more than in 2019.  The country has been working in recent years to cut its reliance on Russian natural gas supplies by expanding its relationships with additional pipeline suppliers and LNG exporters, particularly…

Plans to convert an Alaska liquefied natural gas (LNG) export terminal, the oldest in the United States, to allow imports moved ahead this week after clearing another regulatory hurdle.  The National Marine Fisheries Service (NMFS) found a Marathon Petroleum Corp. subsidiary’s plans to import four cargoes a year of the super-chilled fuel at the Kenai…

Cold weather and a scramble to secure natural gas supplies in Asia are impacting more than only power generators, as spot prices for trucked liquefied natural gas (LNG) in China skyrocketed last month, according to Wood Mackenzie.  The consultancy said spot prices in the LNG transport space nearly doubled in only three weeks in the…

New Fortress Energy Inc. said Wednesday it is acquiring Golar LNG Partners LP (GMLP) and Hygo Energy Transition Ltd. in a deal valued at $5 billion that expands operations in Latin America and provides liquefied natural gas (LNG) shipping assets.  Hygo is a 50-50 joint venture between Golar LNG Ltd. and a fund managed by…

U.S. crude oil stocks declined by 8 million bbl during the week ended Jan. 1, although demand for petroleum products also fell sharply for the period, according to updated statistics published Wednesday by the Energy Information Administration (EIA). EIA said in its latest Weekly Petroleum Status Report that domestic crude inventories, excluding the Strategic Petroleum…

With Old Man Winter appearing to trade in his snow boots for flip flops, natural gas forward prices ratcheted up declines during the final week of 2020. February prices tumbled an average of 11.0 cents from Dec. 24 to 30, while the balance of winter (February-March) fell an average 9.0 cents, according to NGI’s Forward…

New regulation over the permitting process involved in the importing and exporting of fuels in Mexico published in the country’s Official Gazette on Dec. 26 could prove harmful to competition in the Mexican energy sector. Mexico’s Comisión Federal de Competencia Económica (Cofece), the federal economic competition commission, published a statement last week warning the rules…