Sempra executives on Tuesday (June 29) said bringing the initial phase of the Energía Costa Azul (ECA) liquefied natural gas (LNG) project online in Baja California, Mexico was a top priority, but also said they are already looking at ways to lower the cost of a planned expansion. “It’s an optimization game,” Sempra LNG CEO…
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NGI’s Hub & Flow Assesses Outlook in Wake of North American Natural Gas Marketers Ranking
Click here to listen to the latest episode of NGI’s Hub & Flow podcast in which the fundamentals impacting the North American natural gas market are explored. Leading natural gas marketers collectively lost ground with sales volumes in the first quarter, continuing a two-year trend of year/year declines, according to NGI’s Top North American Natural…
South America LNG Demand Rising Amid Mix of Drought, Market Factors
After two years of slumping liquefied natural gas (LNG) demand in South America’s major economies, the tide this year has shifted. Even as the first ever cargo of LNG is arriving this week in Mexico’s Baja California Sur, the country in fact has seen a sharp slowdown in LNG imports at its Manzanillo and Altamira…
July Natural Gas Futures, Cash Prices Post Gains Despite Storage Report Confusion
Natural gas futures finally found their footing in the final hour of trading Thursday after an unusual government inventory report that left traders scratching their heads. Lower export levels and forecasts pointing to less heat next week also weighed on prices, but outlooks for strong demand next month on both fronts provided a late boost.…
Natural Gas Forwards Climb Amid Further Gains at Henry Hub; Western Basis Eases Despite Heat
Aside from moderating premiums in western markets, natural gas forwards marched higher during the June 10-16 trading period. Supply risks served to push July Nymex prices higher, while technical factors and a somewhat cooler look to the weather picture toward the back half of June helped limit gains. July fixed prices at Henry Hub surged…
July Natural Gas Futures Eke Out Gain Following ‘Funky’ Storage Report; Cash Prices Advance
Natural gas futures finally found their footing in the final hour of trading Thursday after an unusual government inventory report that left traders scratching their heads. Lower export levels and forecasts pointing to less heat next week also weighed on prices, but outlooks for strong demand next month on both fronts provided a late boost.…
July Natural Gas Prices Bounce on Day/Day Changes to Supply/Demand Balances
Another change in the weather data, this time more supportive for gas demand, sparked a rebound in natural gas futures on Tuesday. Strong cash prices and a large dip in production aided in the rally, which resulted in the July Nymex futures contract jumping 5.8 cents to settle at $3.128. August climbed 5.1 cents to…
Tellurian Lands Another LNG Supply Deal with Vitol
Tellurian Inc. on Thursday said it has signed a sales and purchase agreement (SPA) with Vitol Inc. to supply 3 million metric tons/year (mmty) of liquefied natural gas (LNG) from its proposed Driftwood export terminal in Louisiana. The announcement came a week after Tellurian announced a similar deal with Gunvor Group Ltd., another leading global…
Sempra Looking to Add Second LNG Project on Mexico’s West Coast
California’s Sempra Energy is looking to develop a second liquified natural gas (LNG) project in Mexico called Vista Pacifico at Topolobampo in Sinaloa state. Sempra LNG regional vice president Brian Lloyd said last week the project would import natural gas from U.S. shale basins for re-export as LNG. Vista Pacifico would have an export capacity…
Tellurian Cuts SPA to Supply Gunvor in Potential Step Forward for Driftwood LNG
Tellurian Inc. said Thursday it has signed a deal to supply a subsidiary of global commodities trader Gunvor Group Ltd. with 3 million metric tons/year (mmty) of liquefied natural gas (LNG) from the proposed Driftwood LNG export terminal in Louisiana. The announcement was a major step forward for the 27.6 mmty facility proposed near Lake…