Soft near-term fundamentals keeping pressure on natural gas futures at the front of the curve through midday trading April Nymex contract down 3.7 cents to $1.677/MMBtu as of 1:56 p.m. ET; May off 2.9 cents at $1.794 LNG export demand down to 12.6 Bcf/d in latest Wood Mackenzie estimates Deliveries to Freeport well below capacity…
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NextDecade Looks to Ink Contract with Bechtel for Rio Grande LNG Expansion by July
As NextDecade Corp. progresses construction on the first three trains for its Rio Grande LNG project in Texas, it is working to firm up contracts for its second phase by the middle of the year. Houston-based NextDecade last year broke ground in Brownsville, TX, on the first three trains of the facility, which could add…
Natural Gas Futures Pare Gains Ahead of Expected Modest Storage Pull; Cash Advances
Natural gas futures ended a two-day run higher on Wednesday as positive vibes from this week’s latest production cuts waned ahead of an expected weak winter storage draw. At A Glance: 37 Bcf withdrawal expected Output holds above 100 Bcf/d Late-month cooldown possible The April Nymex gas futures contract settled at $1.929/MMBtu, down 2.8 cents…
Commonwealth LNG Pushes Potential FID into 2025 as DOE Pause Adds Uncertainty
A final investment decision (FID) for Commonwealth LNG will have to wait until next year, or even later, as Gulf Coast export project developers continue to adapt to the fallout of the Department of Energy’s (DOE) indefinite authorization pause. Commonwealth LNG LLC, currently developing a self-named export facility near Cameron, LA, was previously expected to…
Major Energy Trade Associations Challenge Legality of DOE’s LNG Export Pause
One of the U.S. oil and natural gas industry’s largest trade groups is pushing the Department of Energy (DOE) to reverse a pause on new LNG export licenses as the possibility of intervention from Congress slims. The American Petroleum Institute (API) and other groups representing the liquefied natural gas industry have filed a request for…
Venture Global Fighting Disclosure on Contracts, Awaiting FERC Reply on Calcasieu Pass Deadline
Long-term offtakers of Venture Global LNG Inc.’s Calcasieu Pass terminal in Louisiana are again pressing FERC to make the export project developer provide information about the facility, this time targeting a request to extend the commissioning process. Earlier this month, Venture asked the Federal Energy Regulatory Commission to extend the deadline for its 10 million…
U.S. LNG Contracting Slowed in 2023 as Global Natural Gas Prices Stabilized, EIA Says
While LNG export capacity in the United States is set to continue ballooning through the end of the decade, the pace of supply contracts could be cooling for terminal projects still in development, according to the Energy Information Administration (EIA). Last year marked another leap forward for U.S. liquefied natural gas export expansions, with three…
ConocoPhillips Says LNG Interests Not Affected by ‘Unfortunate’ Biden Export Pause
ConocoPhillips’ LNG business should not be affected in the near term by a freeze on federal approvals for new export capacity, executives said Thursday. The Biden administration’s current pause on authorizations for new liquefied natural gas exports to non-free trade agreement (FTA) countries is “unfortunate” and “clearly more politically driven than fundamental,” said CEO Ryan…
Natural Gas Futures Finish at Lowest Level Since March; Cash Prices Stumble
After several attempts in recent days, March Nymex natural gas futures finally broke through strong support at $2.000/MMBtu and settled for the first time below the mark since March 2023 at $1.967. At A Glance: Futures crash through $2 support Below-average storage draw eyed Lower 48 spot prices mostly down The prompt-month sank as low…
LNG Export Pause Facing Scrutiny as GOP Opposition Mounts
As congressional pushback against the Biden administration’s pause of LNG export permits heats up, EQT Corp. CEO Toby Rice said U.S. producers and exporters already have work ahead to abate the potential damage to project development. Rice joined a panel of witnesses Tuesday during a House Energy and Commerce subcommittee hearing. It was one of…