Mexico faces an election in June amid rising natural gas demand and infrastructure needs. See what NGI analysts gleaned from the recently completed 4Q2023 earnings season. SLB Corp. (SLB): CEO Olivier Le Peuch told investors on SLB’s 4Q2023 earnings conference call that “in the international markets, we expect full year revenue growth reaching the mid-teens…
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Baker Botts’ Bennett Says Question of U.S. LNG Capacity Isn’t How Much, but How Quickly
The U.S. LNG industry has appeared to emerge from a development slowdown after the Covid-19 pandemic to a boom in contracts and final investment decisions (FID) for new export projects thanks to global energy market disruptions. However, as the global market and supply chains continue adapting, rising hurdles for large-scale projects and the climate goals…
North American Natural Gas Futures Rise on Heatwave; Mexico LNG Gets Boost — Spotlight
North American natural gas futures were sluggish this week, but they got a jolt on Thursday. The August New York Mercantile Exchange gas futures contract settled at $2.757/MMBtu, up 15.4 cents day/day. September was up 14.6 cents to $2.731. Analysts at NatGasWeather attributed the jump to “the weather data not backing off on one of…
India’s Cost-Sensitive Buyers Have Important Role to Play in LNG Spot Price Formation – Column
The Indian economy was not immune to the economic slowdown caused by the global pandemic in 2020. As in many countries, lockdowns led to a spike in unemployment and quick drops in most measures of economic activity.
Public and Private Firms Alike, Mexico Natural Gas Market Suffering from Lack of Transparency — Column
Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. The natural gas market in Mexico is under development. Despite deep connectivity with North America and the existence of a legal framework…
Chevron CEO Warns Punitive Penalties for Excess Oil, Gas Profits May Discourage Investment
Any attempts by California to penalize oil and natural gas producers for what state leaders may consider to be excess profits will likely backfire, Chevron Corp. CEO Mike Wirth said Friday. During the first quarter conference call, Wirth was asked about a rulemaking process underway in the company’s home state. Spearheaded by Democratic Gov. Gavin…
Without More Natural Gas Pipelines, Return to High Prices Could Incent Consumers To Ration Energy Use
Absent a surge in natural gas pipelines and related infrastructure, companies may struggle to get ample supplies to utilities, leaving consumers grappling with either lofty prices or the difficult decision to substantially scale back their energy consumption. Such was the warning from executives and regulators alike during CERAWeek by S&P Global. But they also emphasized…
Natural Gas Futures Sink Further as Balances Still Too Loose with Winter Winding Down
Natural gas futures ended the week lower, with traders left uninspired by the arrival of chilly weather in the coming days across the Lower 48. With recent government inventory data pointing to continued looseness in supply/demand balances, the April Nymex gas futures contract settled Friday at $2.430/MMBtu, off 11.3 cents on the day. At A…
COLUMN: Mexico Needs Proper Commercial Configuration for Growing Gas Production
Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. According to the Hydrocarbons Information System (SIH), part of the Comisión Nacional de Hidrocarburos (CNH), the Quesqui field in Mexico’s southeast began…
September Baseload Natural Gas Prices Trending Higher on Lingering Supply Worries, European Energy Crisis
Natural gas prices are set to remain strong for September baseload gas amid domestic supply concerns and surging global prices ahead of the peak winter season, NGI’s Bidweek Alert (BWA) data showed. The majority of U.S. locations escaped wild swings month/month, but the hikes to already elevated prices are noteworthy given moderating weather across much…