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Slump Drags on for Natural Gas Prices; December Futures Falter Sixth Consecutive Day

Slump Drags on for Natural Gas Prices; December Futures Falter Sixth Consecutive Day

Expectations for near-record warmth in November overshadowed the dose of certainty injected with a presidential election result over the weekend and news of a key milestone in the search for a coronavirus vaccine, sending natural gas futures lower on Monday. The decline marked a sixth straight day of losses. The December Nymex contract fell 2.9…

November 9, 2020
Natural Gas Utilities to Play Key Role in Decarbonization, Says Sempra Chief

Natural Gas Utilities to Play Key Role in Decarbonization, Says Sempra Chief

Natural gas utilities can help lead the transition to a carbonless energy future in the United States, Sempra Energy CEO Jeffrey Martin said last week.  California, where two of Sempra’s three major U.S. utilities operate, has a regulatory proceeding to develop a strategy for a phased approach to developing a multi-decade strategy for gas. Martin…

November 9, 2020
Sempra Building ‘Strong’ LNG Franchise in North America, Says CEO

Sempra Building ‘Strong’ LNG Franchise in North America, Says CEO

Sempra Energy’s planned portfolio of liquefied natural gas (LNG) export facilities is among the most competitive in North America, according to CEO Jeffrey Martin, who on Thursday outlined progress on the three big projects in Louisiana, Texas and Mexico. “We think we have built a strong franchise in our LNG business, and to fund its…

November 6, 2020
December Natural Gas Futures Prices Fail to Find Momentum After Storage Withdrawal

December Natural Gas Futures Prices Fail to Find Momentum After Storage Withdrawal

Natural gas futures gave up more ground Thursday — a fourth consecutive daily decline — as traders focused more on weather-induced demand weakness than the first storage withdrawal of the season, a bullish print that pointed to balances tightening ahead of winter. The December Nymex contract fell 10.4 cents day/day and settled at $2.942/MMBtu. The…

November 5, 2020
Pressure Persists on Natural Gas Prices, with December Futures Down Three Straight Days

Pressure Persists on Natural Gas Prices, with December Futures Down Three Straight Days

Natural gas futures fell for a third consecutive day Wednesday as mild fall weather and its dampening effect on demand eclipsed robust liquefied natural gas (LNG) levels and overall tightened balances. The December Nymex contract settled at $3.046/MMBtu, down 1.3 cents day/day. January fell 1.8 cents to $3.177. Diminished near-term weather demand also dragged spot…

November 4, 2020
Low Commodity Prices Again Weigh on Total’s LNG Operations

Low Commodity Prices Again Weigh on Total’s LNG Operations

Total SE returned to profitability in the third quarter as the global economy recovered from lows brought on by the Covid-19 pandemic, but the company continues to face low global commodity prices and uncertainty as the year comes to a close.  The French supermajor took an $8.1 billion impairment in the second quarter when commodity…

November 3, 2020

EIA Storage Report Gives Treats, Not Tricks, to Natural Gas Bulls; Cash Creeps Lower

Natural gas traders waking up with any neck pain on Friday may have a case of whiplash after Thursday’s wild ride in the futures market. The December Nymex contract, on the first day in the prompt-month position, plunged early to a $3.151 intraday low before screaming back higher to settle at $3.301, up a penny…

October 29, 2020
Natural Gas Futures Nearly Erase Early Losses after EIA Reports Paltry 29 Bcf Storage Injection

Natural Gas Futures Nearly Erase Early Losses after EIA Reports Paltry 29 Bcf Storage Injection

The U.S. Energy Information Administration (EIA) reported a much smaller-than-expected 29 Bcf injection into natural gas storage inventories for the week ending Oct. 23, quickly trimming early losses at the front of the Nymex futures curve. The reported build compares with last year’s 89 Bcf injection and the five-year average build of 67 Bcf. The…

October 29, 2020
Natural Gas Futures Steady, but Spec Trading Behind ‘Rare’ Intraday Price Behavior; Cash Mixed

Natural Gas Futures Steady, but Spec Trading Behind ‘Rare’ Intraday Price Behavior; Cash Mixed

Natural gas futures soared to a nearly two-year high for the second time this week, but the price spike had little to do with supply or demand. Instead, analysts said options trading and massive speculative positioning ahead of the November Nymex contract’s upcoming expiration factored into Tuesday’s price behavior. The prompt month went on to…

October 27, 2020
ECA LNG Considers Moving Forward Amid Growing Momentum for Mexico Export Projects

ECA LNG Considers Moving Forward Amid Growing Momentum for Mexico Export Projects

The Energía Costa Azul (ECA) natural gas export project in Mexico’s Baja California has yet to receive an export approval from the Mexican government despite a new push to support the exports but sanctioning could happen later this year, Infraestructura Energética Nova (IEnova) executives said last Thursday. The proposed two-phase liquefied natural gas (LNG) project,…

October 27, 2020