United States

More rigs flocked to the oil patch during the week ended Friday (June 11), offsetting a small decrease in natural gas-directed drilling to lift the combined U.S. count five units to 461, according to the latest data published by Baker Hughes Co. (BKR). Oil-directed drilling increased by six units in the United States for the…

Energy producers and advocates in the Rockies region are looking south of the border for Pacific Coast market options as the outlook for a Western U.S. export facility appears increasingly unlikely. With development of the Jordan Cove liquefied natural gas (LNG) project in Oregon on pause following regulatory setbacks, the Sempra Energy-led Energia Costa Azul…

Natural gas futures advanced for a second straight day on Wednesday as production dipped and all indications pointed to continued strong demand for U.S. liquefied natural gas (LNG). The June Nymex contract settled at $2.969/MMBtu, up 1.4 cents day/day. July rose 1.9 cents to $3.018. NGI’s Spot Gas National Avg., however, declined 2.0 cents to…

The United States is teaming up with Canada, Norway, Qatar and Saudi Arabia to target net-zero greenhouse gas (GHG) emissions from the five countries, all of which are major oil and gas producers. The countries, which together account for about 40% of global oil and gas production, jointly said on Friday they are establishing a…

Energy stakeholders endorsed President Biden’s strengthening of U.S. climate change commitments on Thursday, but they also stressed the importance of natural gas in achieving deep decarbonization of the economy. Biden said Thursday the United States will target a 50-52% reduction in economy-wide greenhouse gas (GHG) pollution by 2030 versus 2005 levels. The announcement, made during…

U.S. liquefied natural gas (LNG) exports hit a record high in March of 6.64 million tons (Mt), according to market research firm Kpler, capping a volatile winter in which brutally cold weather across the northern hemisphere both increased demand and disrupted operations.  Kpler said U.S. exports in March finished 2.26 Mt higher than February, when…

Feed gas deliveries to U.S. liquefied natural gas (LNG) export terminals have been near capacity, flowing at almost 12 Bcf each day over the last week. The European natural gas market is helping drive U.S. export demand. Prices on the continent closed higher last week. The Dutch Title Transfer Facility finished at $6.620/MMBtu and the…

No U.S. liquefied natural gas (LNG) projects are expected to be sanctioned this year, marking the second year in a row developers may postpone moving ahead with facilities, according to Wood Mackenzie. Consultants during a webcast last week said domestic final investment decisions (FID) were unlikely as sponsors struggle to secure long-term contracts “Generally, we’ve…

European Union (EU) natural gas storage inventories are trending below the 5-year average, setting the stage for a potential boost for U.S. exporters in the coming weeks and months. “Low EU gas stocks are good news for U.S. LNG exporters, notably as U.S. LNG netbacks are relatively high for both Asia and Europe, which should…