Despite mixed signals from the weather data, evidence of tight balances in the latest government inventory data helped further bolster natural gas futures in early trading Friday. After advancing 11.1 cents in Thursday’s session, the January Nymex contract was up another 6.7 cents to $2.620/MMBtu at around 8:40 a.m. ET. Overnight, the American weather modeling…
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Costa Azul Natural Gas Export Project in Mexico Gathers Steam With Total Signing
France’s Total SE has joined Sempra Energy subsidiaries Sempra LNG and Infraestructura Energética Nova (IEnova) in developing Mexico’s first natural gas export project. Total management said Tuesday the company now holds a 16.6% equity share of the Energía Costa Azul (ECA) liquefied natural gas (LNG) project set for Ensenada in Baja California on Mexico’s Pacific…
Natural Gas Futures Slip Again and ‘Widow-Maker’ Flips Negative as Traders Losing Hope in Winter Weather
Even with a brief cold blast sneaking back into the December forecast, natural gas futures moved lower again on Tuesday. With a key spread flipping to negative, traders appeared to have closed the book on winter with weeks to go before the first verse of Auld Lang Syne is sung. The January Nymex contract settled…
Winter Weather’s Impact on LNG Markets, Prices Explored on NGI’s Hub & Flow Podcast — Listen Now
Click here to listen to a new episode of NGI’s Hub & Flow podcast. Senior Editor Jamison Cocklin, who oversees LNG Insight, offers an overview of the factors influencing the liquefied natural gas market as colder weather sets in across the Northern Hemisphere. He also discusses what could be ahead for the global gas market…
EIA Slashes January Natural Gas Spot Price Forecast to $3.10 on Lack of Withdrawals, Warm Temps
With stockpiles higher than previously expected as winter temperatures have thus far deviated to the warmer side of normal, the U.S. Energy Information Administration (EIA) is slashing its forecast for average January natural gas spot prices to $3.10/MMBtu, down from $3.42 predicted a month ago. The updated forecast for benchmark Henry Hub, published Tuesday in…
Natural Gas Poised for Continued Growth Under Biden, Experts Say
The domestic and global outlook for natural gas remains relatively bright under a Joseph R. Biden Jr. presidency, despite increasingly negative sentiment toward fossil fuels, according to experts. Although the president-elect is calling for a carbon-free power sector by 2030, gas-fired generation is needed to accommodate growing penetration of intermittent wind and solar energy in…
Machines Pull Trigger, Nymex Natural Gas Crashes After More Bearish Weather Data
As if Wednesday’s 10-cent decline wasn’t enough, another warmer shift in the latest weather models sent January natural gas futures into a freefall early Thursday. A huge bearish miss on the latest storage data hammered the final nail in the coffin, with the January Nymex contract settling the day 27.3 cents lower at $2.507. February…
In Wake of Mexico LNG Approval, Sempra to Unify Subsidiaries
Sempra Energy on Wednesday unveiled a plan to unify its U.S. and Mexico subsidiaries that own liquefied natural gas (LNG) assets. The move to combine Sempra LNG and Mexican firm Infraestructura Energética Nova (IEnova) comes after the San Diego-based operator last month funded construction of the $2 billion Energia Costa Azul (ECA) LNG export terminal,…
Weather Data Seals Fate of Sliding Nymex Natural Gas Futures; Cash Mixed as Some Cold Lingers
Natural gas futures slipped a little, and then a lot, midweek as the generally warm outlook through the middle of December remained intact. The January Nymex contract settled Wednesday at $2.780, down 10.0 cents from Tuesday’s close. February fell 9.0 cents to $2.778. Spot gas prices were mixed Wednesday, with some cold lingering in parts…
Natural Gas Dominates Second Tranche of Mexico’s Public-Private Infrastructure Plan
Energy projects fueled by natural gas dominate Mexico’s second public-private infrastructure plan announced by government and business leaders on Monday. Worth a total of 228 billion pesos, or around $11 billion, the second package includes 29 projects in energy, telecommunications, roads and water. It is part of a broader infrastructure plan aimed at jumpstarting the…