After two years of slumping liquefied natural gas (LNG) demand in South America’s major economies, the tide this year has shifted. Even as the first ever cargo of LNG is arriving this week in Mexico’s Baja California Sur, the country in fact has seen a sharp slowdown in LNG imports at its Manzanillo and Altamira…
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U.S. Dominated Global LNG Trade in 2020, Says IGU
The United States accounted for all of the world’s new liquefied natural gas (LNG) production capacity last year, as exports grew despite challenges created by the Covid-19 pandemic, according to the 12th annual World LNG Report by the International Gas Union (IGU). Cameron, Freeport and Elba Island LNG added 20 million tons (Mt) of annual…
June 4, 2021
Tellurian Lands Another LNG Supply Deal with Vitol
Tellurian Inc. on Thursday said it has signed a sales and purchase agreement (SPA) with Vitol Inc. to supply 3 million metric tons/year (mmty) of liquefied natural gas (LNG) from its proposed Driftwood export terminal in Louisiana. The announcement came a week after Tellurian announced a similar deal with Gunvor Group Ltd., another leading global…
June 3, 2021
TC Energy Exec Sees Yucatan Demand, Pacific LNG Exports Driving Mexico Natural Gas Growth
TC Energy Corp. sees Yucatán Peninsula demand and liquefied natural gas (LNG) exports as possible catalysts for expanding its natural gas network in Mexico, said TC’s Stan Chapman, president of U.S. and Mexico natural gas pipelines. During TC’s May 7 conference call to discuss first quarter earnings, Chapman said the firm’s primary focus in Mexico…
May 12, 2021
Warm April Sinks Natural Gas Forward Prices, but Bullish Momentum Seen Building
A major revision in the April weather forecast coming back from the Easter weekend took a big chunk out of natural gas forward prices for the period ending April 8. The short work week ended with the May contract down an average 10.0 cents and the balance of summer (May-October) off 7.0 cents, according to…
April 8, 2021
Subdued Production Should Support Oil, Natural Gas Prices in 2021, Moody’s Says
Though global oil supply is beginning to climb, it is rising gradually off of depressed levels and is not expected to exceed the anticipated demand recovery this year. The supply/demand balance should support crude prices near their current levels through 2021, though fluctuations are all but certain, Moody’s Investors Service said in a report this…
April 8, 2021
More U.S. LNG Cargo Cancellations Possible This Summer as Production Climbs
U.S. liquefied natural gas (LNG) exporters could see cargo cancellations return this summer if the current supply glut cannot be alleviated by then, analysts said Wednesday. According to IHS Markit, 2020 saw an estimated global surplus of around 24 million metric tons of LNG, or 6% of the available market, as demand weakened amid the…
March 4, 2021
‘ERCOT Failed Texas,’ says Abbott, Vowing to Reform Grid Operator Following Cold Weather Debacle
Texas Gov. Greg Abbott blasted the Electric Reliability Council of Texas (ERCOT) on Thursday, saying the independent system operator “failed the people of Texas” during an extended cold snap this week. Some 325,000 customers remained without power as of an afternoon press briefing in which Abbott pledged to reform ERCOT to prevent a repeat of…
February 18, 2021
Cheniere Seeks OK to Ramp Third Corpus Christi LNG Train
Cheniere Energy Inc. has requested FERC approval to place the third train in service next month at its Corpus Christi liquefied natural gas (LNG) export terminal in South Texas, which would ramp up capacity by 4.5 million metric tons/year (mmty). The company requested permission in a letter filed with the Federal Energy Regulatory Commission on…
February 11, 2021
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