Liquefied Natural Gas

May natural gas futures stumbled into expiration Wednesday as production held strong, mostly benign weather prevailed in forecasts, and analysts looked for an injection that would sustain storage surpluses. At A Glance: Analysts see 70s Bcf storage injection Production holds strong into spring Demand mixed by region and light overall The May contract fell 19.0…

This year has begun with some “macro volatility,” but Baker Hughes Co.’s executive team remains optimistic about the outlook for energy services, particularly for natural gas. The Houston-based oilfield services (OFS) giant kicked off the quarterly earnings season for the energy sector on Wednesday. CEO Lorenzo Simonelli led a conference call with analysts to share…

With some of the warmest weather of the past 40 years expected to continue for the next several days, natural gas futures struggled to find support and instead set their sights on the $2.00/MMBtu mark. After sliding to a $2.072 intraday low, the May Nymex natural gas futures contract settled Wednesday at $2.093, down 9.3…

Gunvor Group Ltd. has the option to terminate its deal to buy supplies from the proposed Driftwood LNG terminal after a deadline passed Tuesday for Tellurian Inc. to meet certain conditions. The sales and purchase agreement (SPA) was amended to give Gunvor the option of walking away if Tellurian failed to meet conditions, including sanctioning…

Devon Energy Corp. is planning to focus a majority of its capital on the Permian Basin’s Delaware sub-basin this year, management said Wednesday. Oklahoma City-based Devon, a leading Lower 48 independent, operates primarily in the Permian Delaware, Anadarko, Williston and Powder River basins, along with the Eagle Ford Shale. Devon has set a 2023 capital…

Despite sliding global LNG prices over the past several months, Flex LNG Ltd. management said heightened European and Asian prices compared to Henry Hub are expected to continue driving U.S. infrastructure investment through the middle of the decade. During an earnings call Tuesday, CEO Oystein Kalleklev said falling liquefied natural gas prices during the fourth…

The American Petroleum Institute (API) emphasized the U.S. role as an energy leader as it outlined steps lawmakers should take to “make, move and improve” the oil and gas industry at a recent event.  “In the past year, the global energy crisis, driven by surging post-pandemic demand outstripping supply and exacerbated by Russia’s invasion of…

Sempra Infrastructure reported the first phase of its Port Arthur LNG project has reached its required offtake subscription for a final investment decision (FID) after it inked another long-term agreement with a European firm. Polish refiner PKN Orlen SA signed a 20-year sales and purchase agreement (SPA) for 1 million metric ton/year (mmty) of liquefied…

Saudi Arabia’s Ministry of Energy has announced two discoveries by state-controlled Saudi Arabian Oil Co. (Aramco) that officials said could help it continue to build natural gas reserves for domestic use. Energy Minister Abdulaziz bin Salman Al Saud called the discoveries an important part of “increasing the kingdom’s natural gas reserves” and helping Saudi Arabia…