LNG

Slumping natural gas prices offset festering high prices in other corners of the economy and helped to keep overall inflation mostly in check last month. The U.S. Department of Labor said Tuesday its Consumer Price Index (CPI) increased at a rate of 3.2% in the 12-month period through February. That was up from 3.1% the…

State-owned Saudi Arabian Oil Co., better known as Aramco, is targeting a 60% increase by 2030 in its natural gas production from 2021 levels as domestic consumption rises in the Kingdom. Speaking to investors during a conference call on Monday, CEO Amin Nasser and CFO Ziad Al-Murshed discussed an array of projects underway to boost…

Argentina’s 51% state-owned oil and gas company YPF SA is aiming to sanction a large-scale LNG export project by mid-2025, with the first 1-2 million metric tons/year (mmty) of liquefaction capacity online by 2027, the firm’s new management said.  “Our goal is to become a global LNG player through the massive monetization of our shale…

North American natural gas prices got a bump earlier in the week when top U.S. producer EQT Corp. announced it was curtailing output, but the rally was short-lived. On Thursday, the New York Mercantile Exchange contract for April settled at $1.818/MMBtu, down 11.1 cents day/day. Mexico pipeline imports of natural gas for the 10-day period…

Oneok Inc. is aiming to take a final investment decision (FID) by the middle of this year on the 2.8 Bcf/d Saguaro Connector natural gas pipeline.  The U.S. Federal Energy Regulatory Commission (FERC) approved the project’s Presidential Permit in February. Saguaro Connector would transport Permian Basin natural gas to the U.S.-Mexico border. From there, it…

Calgary-based Pembina Pipeline Corp. has secured an agreement to supply natural gas liquids (NGL) for Dow Chemical Co. and is advancing LNG pipeline expansion projects that could provide multiple opportunities and more growth following a strong year. In support of Dow’s Fort Saskatchewan Path2Zero expansion project in Canada, Pembina entered into long-term agreements to supply…

Freeport LNG Development LP’s two-week delay to finish repairs to a third train at its export terminal on the Texas coast is set to extend lower gas flows to two months, pushing the restart to mid-March. Feed gas flows to the liquefied natural gas export facility began to drop on Jan. 14 as a winter…

Mexico’s Comisión Federal de Electricidad (CFE) wants to develop natural gas storage in South Texas in time for new industrial projects in Mexico that would require stable and increased shipments from the United States. CFE’s international marketing arm, CFE International, has issued a request for proposals (RFP) from interested parties. The RFP is seeking proposals…

Coterra Energy Inc. is “throttling back on operations” in the Marcellus Shale to start 2024, but management is “highly optimistic on the 12- to 18-month outlook” for natural gas as LNG facilities come online, CEO Tom Jorden said.  The Houston-based independent plans to decrease capital expenditures (capex) in 2024 by 12% year/year to $1.75-1.95 billion…