Natural gas futures hovered in a narrow range of modest gains and losses early Monday before cruising downward and ultimately finishing deep in negative territory, as traders assessed robust summer demand expectations against a shock last week to U.S. export capacity.
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Natural Gas Futures Resume Losses as Freeport LNG Outage Seen Benefiting U.S. Balances
After a brief reprieve, natural gas futures continued to slide Friday as traders continued to weigh the implications of a potentially prolonged outage at the Freeport liquefied natural gas (LNG) terminal. With tight balances firmly intact, the July Nymex gas futures contract slipped 11.3 cents to $8.850/MMBtu. August futures fell 11.1 cents to $8.867. Spot…
June 13, 2022
Natural Gas Futures Resume Losses as Freeport LNG Outage Seen Benefiting U.S. Balances
After a brief reprieve, natural gas futures continued to slide Friday as traders continued to weigh the implications of a potentially prolonged outage at the Freeport liquefied natural gas (LNG) terminal. With tight balances firmly intact, the July Nymex gas futures contract slipped 11.3 cents to $8.850/MMBtu. August futures fell 11.1 cents to $8.867. At…
June 10, 2022
Disappointing Storage Build Fuels Monumental Natural Gas Futures Recovery as Freeport Drama Unfolds
All it took was one little storage datapoint for natural gas futures – down another 50-plus cents early Thursday – to stage a momentous recovery and finish the day well in the green. The July Nymex gas futures contract settled at $8.963/MMBtu, up 26.4 cents from Wednesday’s close. August futures edged up 29.9 cents to…
June 10, 2022
Global Natural Gas Market Rocked by Freeport LNG Explosion – Mexico Spotlight
A fire at the Freeport liquefied natural gas (LNG) export terminal in Texas on Wednesday shut down the facility for at least three weeks and had immediate impacts on natural gas pricing across the globe. With New York Mercantile Exchange July natural gas futures early in the week making their way to $10.00/MMBtu, the incident…
June 9, 2022
Can the U.S. Answer the Global Call for More LNG? – Listen Now to NGI’s Hub & Flow
Click here to listen to the latest episode of NGI’s Hub & Flow podcast. NGI’s Patrick Rau, director of strategy and research, analyzes international efforts to boost liquefied natural gas (LNG) output and diversify energy supplies. Rau focuses on expanding U.S. and Mexico LNG export projects and whether U.S. natural gas producers can meet the…
June 9, 2022
Natural Gas Futures Gains Wiped Out After Freeport Explosion, but Blistering Heat Boosts Cash Further
Although the long-term implications were still unknown, news of an explosion at the Freeport liquefied natural gas (LNG) terminal on the Texas coast took a hatchet to natural gas futures midweek. The July Nymex gas futures contract – up about 30 cents at midday and not far off the $9.664/MMBtu intraday high – plummeted as…
June 9, 2022
Freeport LNG Shuttered for At Least Three Weeks, Tightening Global Gas Market Further
The Freeport liquefied natural gas (LNG) export terminal in Texas is expected to be offline for at least three weeks after an explosion rocked the facility Wednesday morning, dealing a blow to a global gas market already short on supplies. State and federal agencies, including the Pipeline and Hazardous Materials Safety Administration, are aiding Freeport…
June 9, 2022
Cheniere Snags 1.75 MMty Deal with Equinor to Take Supply from Corpus Expansion
Norway’s Equinor ASA plans to boost its liquefied natural gas (LNG) volumes for Europe by the end of the decade with a new sales and purchase agreement (SPA) with Cheniere Energy Inc. Houston-based Cheniere inked a 15-year contract for 1.75 million metric tons/year (mmty) to be delivered on a free-on-board basis. Deliveries would be staggered,…
June 9, 2022
LNG Imports to South America Down Sharply on Replenished Hydropower; Pipeline Flows to Mexico Hold Steady
Imports of liquefied natural gas (LNG) in South America are down sharply this year amid market volatility and a resurgence of hydropower in Brazil, while pipeline gas imports to Mexico have held relatively firm. Kpler analyst Ryhana Rasidi told NGI that around 2.6 million tons (Mt) of LNG has landed in South America this year…
June 8, 2022
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