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February Natural Gas Futures Bounce Back on Renewed Expectation of Deep Freeze

February Natural Gas Futures Bounce Back on Renewed Expectation of Deep Freeze

Natural gas prices rebounded Friday from a loss the day earlier as volatile weather forecasts shifted back to expectations for a severe winter chill in late January that could drive a surge in heating demand. The February Nymex gas futures contract climbed 7.1 cents day/day and settled at $2.737/MMBtu on Friday. The advance more than…

January 15, 2021
Volatility Abounds in Natural Gas Forwards Trading as Polar Vortex Seen Arriving Late January

Volatility Abounds in Natural Gas Forwards Trading as Polar Vortex Seen Arriving Late January

Small price gains were seen along U.S. natural gas forward curves for the Jan. 7-13 period, but they did not tell the whole story. Volatility was in full swing as weather models continued to tease the market with signals that truly frigid winter weather may loom. February prices averaged 5.0 cents higher for the period,…

January 15, 2021
North American Natural Gas Hard Hit by Covid-19, but Robust Growth Seen Through 2040

North American Natural Gas Hard Hit by Covid-19, but Robust Growth Seen Through 2040

North American natural gas production bore the brunt of the Covid-19 pandemic’s impact on global gas output in 2020, but demand fared better in the lower price environment. In its Gas Year 2020 review, Rystad Energy said North American gas production is estimated to have fallen 47 billion cubic meters (bcm) from 2019 levels to…

January 15, 2021
February Natural Gas Futures Flounder as Potential for Extreme Cold Eases; Cash Prices Fall

February Natural Gas Futures Flounder as Potential for Extreme Cold Eases; Cash Prices Fall

In a third consecutive day of topsy-turvy trading, natural gas futures ultimately finished firmly in negative territory, as markets fixated more on shifting weather patterns than a bullish storage report and rising U.S. liquefied natural gas (LNG) volumes. The February Nymex gas futures contract settled at $2.666/MMBtu, down 6.1 cents day/day. March fell 5.9 cents…

January 14, 2021
Natural Gas Forwards Mostly Steady, but Polar Vortex Driving Big Gains in Rockies, Northeast

Natural Gas Forwards Mostly Steady, but Polar Vortex Driving Big Gains in Rockies, Northeast

Small price gains were seen along U.S. natural gas forward curves for the Jan. 7-13 period, but they did not tell the whole story. Volatility was in full swing as weather models continued to tease the market with signals that truly frigid winter weather may loom. February prices averaged 5.0 cents higher for the period,…

January 14, 2021
New Fortress Expands Latin America LNG Position with Brazil Acquisition

New Fortress Expands Latin America LNG Position with Brazil Acquisition

New Fortress Energy Inc. said Wednesday it is acquiring Golar LNG Partners LP (GMLP) and Hygo Energy Transition Ltd. in a deal valued at $5 billion that expands operations in Latin America and provides liquefied natural gas (LNG) shipping assets.  Hygo is a 50-50 joint venture between Golar LNG Ltd. and a fund managed by…

January 14, 2021
Perfect Storm Driving Meteoric Rise in Asian LNG Prices Could Happen Again

Perfect Storm Driving Meteoric Rise in Asian LNG Prices Could Happen Again

James Waddell, a senior global gas analyst at London-based Energy Aspects, said severe cold, production outages, shipping constraints and a scramble to find supplies are just a few of the myriad factors that have blown into the perfect storm behind a meteoric rise in Asian liquefied natural gas (LNG) prices.  As the historic rally continues,…

January 14, 2021
Henry Hub Could Hit $3.50 in 2021 on Projected LNG Export Strength

Henry Hub Could Hit $3.50 in 2021 on Projected LNG Export Strength

An extraordinary surge in freezing temperatures across northern Asia, coupled with liquefied natural gas (LNG) delivery interruptions, are triggering a surge in prices in key U.S. export destinations such as China, Japan and South Korea. At the same time, European storage levels are drawing down quickly, and the result is mounting demand for U.S. LNG…

January 14, 2021
LNG Canada Conduit Coastal GasLink, Other BC Energy Projects Temper Labor Force on Covid Outbreak

LNG Canada Conduit Coastal GasLink, Other BC Energy Projects Temper Labor Force on Covid Outbreak

Construction schedules are under review in British Columbia (BC) for its entry into the global natural gas export market as a result of labor force limits that provincial public health authorities adopted to counter the impacts from the pandemic. “Long-term impacts to the overall schedule continue to be assessed,” said TC Energy Corp. Vice President…

January 14, 2021
Natural Gas Storage Withdrawal Eclipses Expectations but Fails to Boost Futures

Natural Gas Storage Withdrawal Eclipses Expectations but Fails to Boost Futures

The U.S. Energy Information Administration (EIA) on Thursday reported a withdrawal of 134 Bcf from natural gas storage for the week ended Jan. 8. The result exceeded both the year-earlier pull and the midpoint of analysts’ estimates, but it fell short of fueling Nymex natural gas futures. It was “a stronger draw than we estimated…reflecting…

January 14, 2021
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