Canada’s largest natural gas producer, Tourmaline Oil Corp., said it has increased its exposure to global LNG pricing through two agreements to supply gas to units of commodity trading giant Trafigura Group Pte. Ltd. The first deal is a netback agreement linked to the Japan-Korea Marker (JKM). The deal is based on 62,500 MMBtu/d, or…
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Wintry Weather No Match from Strong Global Natural Gas Supplies – LNG Recap
A bitter cold snap gripping much of Europe wasn’t enough Monday to sustain a three-day rally in natural gas prices there as strong imports have kept the continent well supplied. Title Transfer Facility prices fell across the curve Monday, when the prompt month closed 9% lower to finish near $10/MMBtu. Prices jumped last week ahead…
JKM Prices Continue Decline Despite Earthquake in Japan
A 7.6-magnitude earthquake that hit western Japan continued to have little impact on the country’s natural gas demand and Asian natural gas prices on Wednesday. Two coal-fired power plants were closed and some gas-fired generation had been reduced in the Noto region after the quake hit Monday. The Naoetsu LNG import facility was briefly shut…
U.S. Sanctions Reportedly Prompt Exodus from Russia’s Arctic LNG 2 Project – LNG Recap
Foreign stakeholders have reportedly withdrawn from PAO Novatek’s Arctic LNG 2 project due to sanctions imposed against the facility by the United States, jeopardizing Russia’s efforts to significantly boost its liquefied natural gas trade. Kommersant cited unnamed sources who told the Russian newspaper that China National Petroleum Corp., China National Offshore Oil Corp.,TotalEnergies SE and…
Middle East Shipping Chokepoint Pushes Global Natural Gas Prices Higher – LNG Recap
Global natural gas prices bounced back Monday, lifted by escalating tensions in the Middle East, where increasing attacks in the Red Sea have impacted commercial shipping operations. BP plc joined a growing list of major shipping companies in announcing that it would halt all of its oil and natural gas cargoes in the Red Sea.…
Comfortable Balances, Mild Weather Keep Lid on Global Natural Gas Prices – LNG Recap
Global natural gas prices continued their spiral Monday as weather patterns across the Northern Hemisphere again shifted warmer, preserving ample stocks and further easing supply concerns. In Europe, the prompt Title Transfer Facility (TTF) contract slid 6.4% on Monday to close near $11/MMBtu. The contract dipped 4.3% last week despite an agreement among lawmakers late…
Chesapeake Working to Diversify LNG Supply Deals, Gain Price Exposure in Asia, Europe
While Chesapeake Energy Corp. works to finalize its natural gas supply deals with LNG buyers, management says it’s narrowing down opportunities to link more of its Haynesville and Marcellus shale supply to international benchmarks in the months to come. Chesapeake currently has tentative agreements with liquefied natural gas traders that could link up to 3…
Natural Gas Prices ‘Under Significant Pressure’ Across Northern Hemisphere – LNG Recap
Mild weather and ample natural gas supplies again combined Monday to drag down natural gas prices across the northern hemisphere. “Natural gas prices are under significant pressure to open the week with global benchmarks tumbling across U.S. and European markets,” said Schneider Electric analyst Robbie Frasier. “Much of that weakness can be attributed to continually…
Ample Supplies Outweigh Cold Snap in Europe to Drag Down Natural Gas Prices – LNG Recap
A shot of cold weather that settled in over the weekend across parts of Europe did little to lift natural gas prices in the region, where concerns about the winter heating season have continued to ease amid a surplus of supplies. The December Title Transfer Facility (TTF) contract fell 6% from its close on Friday…
Growing Conflict in the Middle East, Cooler Temperatures Spike Global Natural Gas Prices – LNG Recap
Global natural gas prices edged upward despite limited activity on the market as traders weighed the potential winter supply risk from a widening war in the Middle East and colder forecasts. European and East Asian benchmark prices jumped Monday, reversing last week’s downward slope as hefty storage levels and mild weather continued to drag on…