U.S. natural gas prices nosedived Tuesday afternoon after Freeport LNG Development LP outlined plans to restart partial operations at its export terminal on the Upper Texas Coast later than expected in November. The company had previously guided for a restart in early October. Initial production is now expected to begin in early to mid-November and…
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Perfect Storm Leading to Record Price Spikes in U.S. Southeast – Listen Now to NGI’s Hub & Flow
Click here to listen to the latest episode of NGI’s Hub & Flow, where NGI Price & Markets Editor Leticia Gonzales is joined by RBN Energy managing editor Sheetal Nasta to discuss the factors driving unprecedented price spikes in the U.S. Southeast. In the podcast, Nasta discusses how high demand, tight pipeline capacity and various…

Freeport LNG Out for Months, Stranding 2 Bcf/d and Rattling Global Markets
Representatives with the liquefied natural gas (LNG) facility in Texas that suffered an explosion last week, Freeport LNG, said early Tuesday that the company does not expect the export facility to be fully repaired for months. The company is now targeting late 2022 for a return to full service instead of the initial guidance of…

ExxonMobil, Chevron Investors Green Light Some Improved Climate Disclosures
Shareholders made demands mostly around reducing carbon emissions, but the fireworks that lit up annual meetings last year were missing for ExxonMobil and Chevron Corp. Investors overall stuck with board recommendations at the two events in late May. However, there was more support for increased climate disclosures. At the ExxonMobil annual meeting last week, 52%…

Fed Foreshadowing Rate Hikes, but Signaling Strong Conditions for Oil, Natural Gas Demand
With inflation surging, led by lofty oil and natural gas prices in 2021, Federal Reserve policymakers this week said they would hasten their drawdown of pandemic aid and signaled they could raise interest rates multiple times in 2022. While the shift presents potential downsides for energy companies in the year ahead – notably, higher borrowing…

All I Want for Christmas Is…A Natural Gas Generator! Listen Now to NGI’s Hub & Flow
Click here to listen to the latest episode of NGI’s Hub & Flow podcast. In this holiday-themed episode, NGI Thought Leaders Matthew Veazey and Leticia Gonzales discuss the natural gas standby generator backlog and how utilities are dealing with natural gas price increases. Believing that transparent markets empower businesses, economies and communities, NGI works to…

Energy Banks Forecasting Higher Natural Gas, Oil Prices in Welcome Trend for E&P Borrowers
Banks that lend to natural gas and oil producers have substantially raised their price expectations for both commodities, according to the latest biannual Energy Bank Price Deck Survey conducted by Haynes and Boone LLP. The law firm conducts spring and fall editions of the survey each year to capture the expectations of energy banks for…

Spire’s Natural Gas Pipeline Secures FERC Certificate to Keep Operating — For Now
FERC on Tuesday issued a temporary certificate of public convenience and necessity to Spire STL Pipeline LLC, keeping the 65-mile, 400,000 Dth/d Midwest natural gas conduit in service for now following a court order vacating the project’s federal authorization. Three of the four sitting members of the Federal Energy Regulatory Commission opted to support the…

NOV’s Oilfield Technologies in Demand, but Labor Shortages and Inflationary Risks Lurk
Customers are craving the conventional and alternative energy technologies proffered by Houston’s NOV Inc., with the backlog sharply higher in the second quarter. However, CEO Clay Williams told investors Wednesday that “continuing supply chain challenges” and rising costs are a concern. Williams discussed the latest results and what he sees ahead during a wide ranging…
European Natural Gas Prices Hit Record Amid Supply Crunch — The Offtake
A roundup of news and commentary from NGI’s LNG Insight European natural gas prices set records during trading Wednesday. The prompt Dutch Title Transfer Facility contract hit an all-time high and the prompt National Balancing Point hit its highest level since 2005 amid a deepening supply crunch on the continent. Japan-Korea Marker spot prices for…