Tender

Bulls took the lead this week as North American natural gas futures saw the kind of upward pressure that has been rare in 2023. The November New York Mercantile Exchange gas futures contract jumped 20.4 cents day/day on Thursday and settled at $3.166/MMBtu. December gained 19.1 cents to $3.511. Supply concerns appeared to be behind…

European Commission (EC) officials have called the bloc’s Aggregate EU joint natural gas purchasing platform a success after closing the second tender, but market participants and analysts are still calling for more information around contracts. Out of the nearly 12 Bcm matched in the second tender, liquefied natural gas accounted for 5.5 Bcm and the…

U.S. natural gas prices continued to slide Monday after hitting their lowest point since 2021 last week, following other global benchmarks lower during a warm winter. Henry Hub fell below $3/MMBtu last week for the first time since May 2021. The March contract closed at $2.677 on Monday. Warm weather, a strong rebound in U.S.…

The price spread between the ICIS East Asia Index (EAX) and Dutch TTF widened over the week, with East Asian spot prices dipping on high utility inventory levels in Japan and the latest tender cargo awards from south and southeast Asia.

Argentina’s government has launched a natural gas tender to try to shore up domestic supply starting in the Southern Hemisphere winter in 2022. The majority of the gas would come from the Neuquén Basin, home to the massive Vaca Muerta formation. Energy Secretary Darío Martínez said the objective of the tender — part of the…

A roundup of news and commentary from NGI’s LNG Insight A natural gas price rally continues overseas. European front-month prices gained for a sixth day as did contracts further down the curve, with the Title Transfer Facility trading at its highest point in over a decade.  Spot prices in North Asia also gained again Thursday,…

Commonwealth Liquefied Natural Gas (LNG) has launched a tender soliciting bids from potential offtakers that could acquire supply from the proposed project in Louisiana at volumes, pricing and durations of their choosing.  The company is aiming to accelerate the supply contracting process by offering more flexibility. Offtakers could buy on a tolling, free-on-board (FOB) or…

Mexico’s national pipeline operator Centro Nacional de Control del Gas Natural (Cenagas) has opened a second bidding for natural gas supply to ensure the Sistrangas pipeline system maintains system balance. Cenagas wants to guarantee “the balance and operation of the system to ensure the continuity of natural gas supply in the country,” it said. The…

Consol Energy Inc. is offering to buy the nearly 17% of CNX Gas Corp. common stock it does not already own. Consol’s tender offer is to begin May 5 at a price of $38.25/share. CNX shares surged nearly 24% to $38 Monday morning on the news.