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…
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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…
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…
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…
‘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…
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…