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Production Declines, Impressive Heat Lift Natural Gas Futures in Early Trading

Production Declines, Impressive Heat Lift Natural Gas Futures in Early Trading

Weaker production numbers day/day and continued sweltering heat in updated forecasts helped natural gas futures extend their recent gains in early trading Tuesday. Coming off a 39.2-cent rally in the previous session, the August Nymex contract was up another 20.3 cents to $6.629/MMBtu at around 8:50 a.m. ET. Lower 48 production estimates as of early…

July 12, 2022
Philippine LNG Projects Slow Despite Strong Asian Demand

Philippine LNG Projects Slow Despite Strong Asian Demand

Only one of seven proposed liquefied natural gas (LNG) projects is due to start up this year in the Philippines despite decades of planning for imports of the super-chilled fuel in the country, demonstrating the challenges smaller Asian nations face in getting infrastructure built. “We see more progress on a wide range of projects, but…

July 8, 2022
New Fortress Aiming for Lakach Natural Gas Production Offshore Mexico by End-2023

New Fortress Aiming for Lakach Natural Gas Production Offshore Mexico by End-2023

New Fortress Energy Inc. (NFE) is targeting first natural gas production from the Lakach deepwater field offshore Mexico by the end of 2023, according to CEO Wes Edens. NFE management held a conference call on Thursday to update investors on a series of commercial agreements reached with Mexico’s state-owned energy giants, Petróleos Mexicanos (Pemex) and…

July 6, 2022
Mexico Touts Multi-Billion Dollar Public-Private Natural Gas Projects

Mexico Touts Multi-Billion Dollar Public-Private Natural Gas Projects

Amid a global energy crunch, Mexico is set to go all in on natural gas with numerous public-private projects announced over the past week. Speaking at the launch of the Olmeca refinery in Dos Bocas, Comisión Federal de Electricidad (CRE) head Manuel Bartlett said the utility would partner with the local subsidiary of Canada’s TC…

July 5, 2022
Shunning Russia, Western Europe Reviving Offshore Natural Gas Projects

Shunning Russia, Western Europe Reviving Offshore Natural Gas Projects

Germany, The Netherlands, Germany and the UK have each reversed decisions to decrease oil and natural gas development in the wake of Russia’s war on Ukraine, supporting the need to reduce dependence on fossil fuel imports. Russia’s Gazprom PJSC in late May said it planned to discontinue supplying the Netherlands with gas after Dutch wholesaler…

June 24, 2022
Freeport LNG Out for Months, Stranding 2 Bcf/d and Rattling Global Markets

Freeport LNG Out for Months, Stranding 2 Bcf/d and Rattling Global Markets

Freeport LNG Development LP said Tuesday it does not expect its Texas export facility to be fully repaired for months after an explosion knocked the plant offline last week. The company is now targeting late 2022 for a return to full service instead of the initial guidance of three weeks. Given that the explosion and…

June 14, 2022
Mexico’s AMLO Aiming for 500 MMcf/d Jaltipan-Salina Cruz Pipeline To Be Built Within a Year

Mexico’s AMLO Aiming for 500 MMcf/d Jaltipan-Salina Cruz Pipeline To Be Built Within a Year

Mexico’s president said Saturday he hopes for construction of the Jaltipán-Salina Cruz natural gas pipeline to be complete within a year at the most. The proposed 500 MMcf/d pipeline would span the Tehuantepec Isthmus, from Chinameca, Veracruz, to Salina Cruz, Oaxaca, where the government is planning a 3 million metric tons/year floating liquefied natural gas…

June 13, 2022
Montney Drilling Expansion Said Needed to Fill LNG Export Deliveries from Canada

Montney Drilling Expansion Said Needed to Fill LNG Export Deliveries from Canada

The potential Canadian entry into liquefied natural gas (LNG) markets estimated it could need 2,500 Montney Shale wells to fill export facilities on the northern Pacific coast of British Columbia (BC). In the first 20 years of exports, NorthRiver Midstream NEBC Connector GP Inc. estimated the new drilling could spawn 313 kilometers (188 miles) of…

June 10, 2022
Global Natural Gas Market Rocked by Freeport LNG Explosion – Mexico Spotlight

Global Natural Gas Market Rocked by Freeport LNG Explosion – Mexico Spotlight

A fire at the Freeport liquefied natural gas (LNG) export terminal in Texas on Wednesday shut down the facility for at least three weeks and had immediate impacts on natural gas pricing across the globe. With New York Mercantile Exchange July natural gas futures early in the week making their way to $10.00/MMBtu, the incident…

June 9, 2022
Market Said Pricing in Extended Freeport LNG Downtime as Natural Gas Futures Continue Slide

Market Said Pricing in Extended Freeport LNG Downtime as Natural Gas Futures Continue Slide

With the market continuing to assess the potential demand destruction from an explosion at a major U.S. export terminal, natural gas futures continued to tumble in early trading Thursday.  The July Nymex contract was down 34.4 cents to $8.355/MMBtu as of around 8:50 a.m. ET. The July contract had advanced beyond the $9.60 mark Wednesday…

June 9, 2022