Natural gas futures prices ended the week on firmer ground as a chillier March outlook and the continued ramp of a key export facility supported the market. The March Nymex gas futures contract expired Friday at $2.451/MMBtu, up 13.7 cents from Thursday’s close. The April contract – which moves to the front of the curve…
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Natural Gas Futures Flirt with $2.00 as Freeport OK’d to Restart
Fresh off a week of mostly steady declines, natural gas futures extended their losses on Monday as springlike weather blanketed much of the Lower 48. With production strong and a storage surplus set to grow in the coming weeks, the March Nymex gas futures contract settled at $2.073/MMBtu, down 20.2 cents from Friday’s close. At…
U.S. Natural Gas Exports to Mexico Dipped in 3Q2022, But Fetched Higher Prices, Says DOE
Exports of U.S. natural gas to Mexico by pipeline and truck totaled 536.9 Bcf in the third quarter of 2022, averaging about 5.9 Bcf/d, according to the U.S. Department of Energy (DOE). This was down from 570.7 Bcf or 6.27 Bcf/d during 3Q2021. DOE publishes a quarterly report on U.S. natural gas imports and exports.…
FortisBC Secures First Nations Partnership to Advance Tilbury LNG Expansions
FortisBC Holdings Inc. has reached an agreement with the Snuneymuxw First Nation community “to work in close collaboration” on planned expansions of the Tilbury LNG facility in Delta, British Columbia (BC). In operation since 1971, the liquefied natural gas facility added 0.25 mmty (33 MMcf/d) of liquefaction capacity and a 46,000 cubic meter (1 Bcf)…
Texas Natural Gas Production Hitting Records as Mexico Ups Supply Needs
Mexico’s demand for Texan natural gas is set to rise as new infrastructure projects come to fruition. Along with plans in Mexico to build up to 5 Bcf/d of liquefied natural gas export capacity, state utility Comisión Federal de Electricidad (CFE) also is developing over 7 GW of natural gas-fired power generation by 2025. These…
Natural Gas Futures Find Stability; Cash Prices Sustain Momentum
Natural gas futures stabilized on Tuesday, supported by a cold front, eased production and strength in cash markets. Coming off a 17.2-cent drop in its debut as the front month a day earlier, the March Nymex gas futures contract on Tuesday settled at $2.684/MMBtu, up seven-tenths of a cent day/day. April rose 1.0 cent to…
South Texas Port Caps Record Year; LNG Growth Seen Continuing Despite Recession Headwinds
Fresh off another record quarter, the Port of Corpus Christi in South Texas solidified a banner year in which tonnage reached new heights as demand soared for refined products and crude oil, along with LNG exports. The port achieved a new annual tonnage record of 187.9 million tons – a 12% increase over 2021 volumes,…
Natural Gas Futures Finish Bruising Week on Sour Note; Cash Prices Tumble
Natural gas futures traded in a narrow range much of Friday, ultimately culminating another sluggish week with a loss amid mild weather and elevated production levels. The February Nymex gas futures contract settled at $3.174/MMBtu, down 10.1 cents day/day. March lost 8.8 cents to $3.036. At A Glance: Prompt month sheds 10 cents Heating demand…
February Natural Gas Futures, Cash Prices Struggle in Wake of Weak Storage Print
February natural gas futures fell a second consecutive day after an anemic storage print – and expectations for more ahead – punctuated supply/demand imbalance concerns and weighed on prices. The February Nymex contract declined 3.6 cents day/day and settled at $3.275/MMBtu. Gas for delivery in March eked out a 1.3-cent gain to $3.124. NGI’s Spot…
North American Natural Gas Prices Slumping as Cross-Border Market ‘Gaining Dynamism’ – Mexico Spotlight
North American natural gas prices continued to be pressured lower toward the $3.00/MMBtu mark this week as U.S. production remained strong amid warmer than usual temperatures. On Thursday, the February New York Mercantile Exchange contract declined 3.6 cents day/day and settled at $3.275/MMBtu. Gas for delivery in March managed a 1.3-cent gain to $3.124. Mexico…