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ExxonMobil Grabs Golden Ring as Profits Soar, Ethane Demand Climbs

ExxonMobil Grabs Golden Ring as Profits Soar, Ethane Demand Climbs

With natural gas and liquids prices soaring, along with ethane demand, ExxonMobil hit on all cylinders during 2Q2021.  The supermajor unveiled its quarterly report on Friday, offering investors some encouraging news following a volatile run over the past few quarters. The gains were keyed to higher commodity prices and a stellar performance by the Chemicals…

July 30, 2021
TotalEnergies Gains on Rebound in 2Q, as Natural Gas Prices Climb 28%

TotalEnergies Gains on Rebound in 2Q, as Natural Gas Prices Climb 28%

TotalEnergies SE benefited from a rebound in commodity prices in the second quarter as earnings came in above pre-Covid 19 levels during the same period in 2019. The French supermajor said international oil and natural gas markets climbed 13% and 28%, respectively, sequentially in 2Q2021. The integrated gas, renewables and power segment also continued to…

July 30, 2021
Chart Industries Optimistic on U.S. LNG, Reports Record Orders for Third Straight Quarter

Chart Industries Optimistic on U.S. LNG, Reports Record Orders for Third Straight Quarter

Chart Industries Inc. CEO Jill Evanko expressed optimism on Thursday that up to four large U.S. liquefied natural gas (LNG) export projects could be sanctioned early next year following a flurry of activity in the past two months. Evanko said she was “very bullish on one to four U.S. Gulf Coast export projects that already…

July 26, 2021
August Natural Gas Futures, Cash Prices Finish Flurry of Trading on Another High Note

August Natural Gas Futures, Cash Prices Finish Flurry of Trading on Another High Note

Natural gas futures climbed even higher on Friday, extending to six days a furious demand-driven rally that sent the prompt month to a close above $4.00 for a second session. The August Nymex contract rose 5.7 cents day/day and settled at $4.060/MMBtu, its highest mark since 2018. September gained 6.0 cents to $4.042. NGI’s Spot…

July 23, 2021
Natural Gas Futures Surge a Third Straight Day; Cash Rallies

Natural Gas Futures Surge a Third Straight Day; Cash Rallies

Bolstered by favorable weather outlooks and supply concerns, natural gas futures forged higher on Tuesday, following a 10.5-cent gain the previous day. The August Nymex contract settled at $3.876/MMBtu, up 9.7 cents day/day and in the green for a third consecutive session. September rose 9.8 cents to $3.852. Tuesday’s trading lifted the prompt month to…

July 21, 2021
Sempra, BP Procure Mexico’s First Carbon Offset LNG Cargo

Sempra, BP Procure Mexico’s First Carbon Offset LNG Cargo

Mexico was set to receive its first cargo of carbon offset liquefied natural gas on Friday (July 16), according to a Thursday announcement by BP plc and Sempra.  Subsidiaries of the firms inked a contract for delivery of the cargo to Sempra’s Energía Costa Azul (ECA) terminal on Mexico’s Pacific Coast. Greenhouse gas (GHG) emissions…

July 19, 2021
As South American LNG Demand Soars, New Fortress Secures Gas Supply Through 2027

As South American LNG Demand Soars, New Fortress Secures Gas Supply Through 2027

New Fortress Energy Inc. (NFE) has reached an agreement for liquefied natural gas (LNG) supply through 2027 for most of its import terminals and power generation facilities. The company has nine import terminals in operation or under development in the Caribbean, Central America, Mexico and South America. It imports LNG in underserved markets where it’s…

July 13, 2021
Mexico Natural Gas Demand Stayed Buoyant Through Pandemic, Part of Larger Global Trend, Says BP

Mexico Natural Gas Demand Stayed Buoyant Through Pandemic, Part of Larger Global Trend, Says BP

Natural gas demand in Mexico stayed resilient through pandemic-ravaged 2020 compared to total energy demand, in line with trends seen globally, according to BP plc. Mexico’s natural gas consumption dipped only 1.9% year/year to 3.11 exajoules in 2020, while the country’s total primary energy consumption plunged 14.2% to 6.48 exajoules, according to BP’s Statistical Review…

July 12, 2021
Tellurian Terminates $700M Deal with TotalEnergies for Driftwood LNG

Tellurian Terminates $700M Deal with TotalEnergies for Driftwood LNG

A deal with French supermajor TotalEnergies SE that would have injected up to $700 million into Tellurian Inc.’s planned Driftwood liquefied natural gas (LNG) export facility in Louisiana has fallen through after the project developer failed to meet a key deadline for sanctioning the project. In a filing with the U.S. Securities and Exchange Commission,…

July 12, 2021
Freeport LNG Eyes 2022 to Sanction Fourth Train as Market Undergoes ‘Total Transformation’

Freeport LNG Eyes 2022 to Sanction Fourth Train as Market Undergoes ‘Total Transformation’

The developers of the Freeport liquefied natural gas (LNG) export facility in Texas are targeting a mid-2022 final investment decision (FID) and a 2026 startup for the plant’s fourth train as customers indicate interest for long-term contracts. However, CEO Michael Smith told NGI last week that Freeport LNG will maintain a patient approach when it…

July 9, 2021
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