LNG

U.S. natural gas production has recovered more vigorously than oil since the height of the pandemic and is on track to exceed pre-pandemic growth forecasts through 2024, according to researchers at Louisiana State University’s (LSU) Center for Energy Studies. The center’s executive director, David Dismukes, and associate research professor, Gregory Upton, described a transformed landscape…

Milder trending weather model runs put pressure on natural gas futures in early trading Wednesday, threatening to plunge prices back below the psychological $5 barrier. The December Nymex contract was down 17.1 cents to $5.006/MMBtu at around 8:40 a.m. ET. Forecasts shifted warmer overnight, mostly attributable to changes in the American model, according to Bespoke…

Tellurian Inc. is in no hurry to sell all of the 27 million metric tons/year (mmty) of liquefied natural gas (LNG) capacity from the proposed Driftwood export project in Louisiana even though there’s an opportunity to do so, according to CEO Octávio Simões. The company has agreed to supply 9 mmty of LNG from the…

Natural gas futures extended their recent losses in early trading Tuesday as the latest forecasts did little to change a mixed overall temperature outlook for the next two weeks. Coming off an 8.9-cent decline in the previous session, the December Nymex contract was down another 18.8 cents to $5.239/MMBtu at around 8:50 a.m. ET. Overnight…

Natural gas futures softened in early trading Monday as weekend shifts in forecasts failed to deliver the kind of intense winter cold needed to catalyze the market. The December Nymex contract was off 9.7 cents to $5.419/MMBtu at around 8:40 a.m. ET. Over the weekend, trends in the major weather models yielded a “pretty inconsequential”…

Brazilian national oil company Petróleo Brasileiro (Petrobras) reported a 43.5% year/year (y/y) increase in domestic natural gas sales volumes during the third quarter as severe drought limited hydroelectric output in the South American country. Gas sales totaled 89 MMm3/d, up from 62 MMm3/d in 3Q2020, management said in presenting the firm’s quarterly earnings. Petrobras relied…

Canada’s AltaGas Ltd. in its third quarter results said the potential engines of growth for the company include plants in the Montney Shale of British Columbia (BC). The company touted its plants in the Montney region of northern BC, which is the supply source for liquefied natural gas export facilities under construction or on the…

Mexico Pacific Ltd. LLC (MPL) continues to advance its liquefied natural gas (LNG) export project for the Pacific coast of the country. This week, the company signed a collaboration agreement with ConocoPhillips LNG Licensing LLC and Bechtel. Together, the companies plan to work with construction firm Techint SA de CV to pursue “innovative lower carbon…

Cheniere Marketing, LLC has signed a binding 13-year liquefied natural gas (LNG) sales and purchase agreement (SPA) with a unit of Glencore plc, parent company Cheniere Energy Inc. reported Monday. Glencore will purchase approximately 0.8 million metric tons/year (mmty) on a free-on-board basis under the SPA. Cheniere said the 13-year term starts in April 2023.…