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Weekly Natural Gas Spot Prices, Futures Struggle Amid Elusive Demand, Stout Production

Weekly Natural Gas Spot Prices, Futures Struggle Amid Elusive Demand, Stout Production

Weekly cash prices skidded lower amid solid production and light heating demand across much of the Lower 48. NGI’s Weekly Spot Gas National Avg. for the Jan. 23-27 period fell 61.0 cents to $4.880. As the trading week closed, Algonquin Citygate was down 45.5 cents to $3.755, while Kingsgate was off 33.5 cents to $2.960…

January 27, 2023
Natural Gas Forward Prices Continue to Soften Despite Freeport LNG’s Move Toward Restart

Natural Gas Forward Prices Continue to Soften Despite Freeport LNG’s Move Toward Restart

With February only days away, the natural gas market may be closing the book on winter – and brushing off news of Freeport LNG’s impending restart – as forward prices continued to soften through the Jan. 19-25 period, according to NGI’s Forward Look. The past week’s trading patterns continued the trends that have played out…

January 27, 2023
ICE to Launch Alternative TTF Market in Response to EU Natural Gas Price Cap

ICE to Launch Alternative TTF Market in Response to EU Natural Gas Price Cap

Intercontinental Exchange Inc. (ICE) said Friday it would launch a market for trading Title Transfer Facility (TTF) contracts in London that are subject to the European Union (EU) cap on the continent’s gas benchmark that takes effect next month. “ICE’s purpose is to create markets to allow our customers to manage their risk and we…

January 27, 2023
Algeria Makes Ambitious Plans to Nearly Double LNG, Pipeline Exports

Algeria Makes Ambitious Plans to Nearly Double LNG, Pipeline Exports

Algeria, Europe’s third largest natural gas supplier, is planning to boost LNG and pipeline exports to the continent this year as it continues to wean off Russian supplies. Nearly 85% of the country’s gas exports are already designated for Europe, making Algerian President Abdelmadjid Tebboune’s pledge to nearly double them to 100 billion cubic meters…

January 27, 2023
Chevron CEO Says European Natural Gas Outlook ‘Less Dire,’ Markets Calmer

Chevron CEO Says European Natural Gas Outlook ‘Less Dire,’ Markets Calmer

The legacy Permian Basin operations guided Chevron Corp. to record U.S. production in 2022, with natural gas and oil output from the play rising 16%, the supermajor said Friday. CEO Mike Wirth led a conference call with the executive team to discuss fourth quarter and full-year performance.  “We delivered record earnings and cash flow in…

January 27, 2023
What’s Going on With Global Gas Prices? – Listen Now to NGI’s Hub & Flow

What’s Going on With Global Gas Prices? – Listen Now to NGI’s Hub & Flow

Click here to listen to the latest episode of NGI’s Hub & Flow podcast, which explores LNG prices amid Europe’s persisting mild weather and continued high volumes of liquefied natural gas flows.  NGI Senior LNG Editor Jamison Cocklin and Associate LNG Editor Jacob Dick discuss the downward trend of European and Asian natural gas prices…

January 27, 2023
Freeport LNG Given Green Light by FERC for Preliminary Restart Work

Freeport LNG Given Green Light by FERC for Preliminary Restart Work

Federal regulators have signed off on Freeport LNG Development LP’s request to begin cooling part of its transfer equipment, an early step to eventually restarting the 2.38 Bcf/d terminal. The Federal Energy Regulatory Commission informed Freeport Thursday it would grant its request to begin cooling its Loop 1 liquefied natural gas transfer system after a…

January 26, 2023
LNG and Offshore Equipment Demand Sparks Record Orders for Baker Hughes

LNG and Offshore Equipment Demand Sparks Record Orders for Baker Hughes

Baker Hughes Co. generated record orders in the fourth quarter, driven by “multiple awards” for  LNG and offshore production equipment, CEO Lorenzo Simonelli said Monday. In a conference call to discuss quarterly and full-year earnings, the CEO noted that operationally, the Houston-based oilfield services (OFS) giant “continues to navigate challenges” in “different parts of the…

January 26, 2023
Alaska Governor Ready to ‘Unlock’ North Slope Natural Gas to Power LNG, Hydrogen Exports to Asia

Alaska Governor Ready to ‘Unlock’ North Slope Natural Gas to Power LNG, Hydrogen Exports to Asia

Alaska Gov. Mike Dunleavy sees the state’s future connected to its role as a global energy supplier, which means utilizing more natural gas resources and developing LNG exports to Asia, he said during the annual State of the State address. The Republican governor, who is beginning his second term, said he intended to build on…

January 26, 2023
South Texas Port Caps Record Year; LNG Growth Seen Continuing Despite Recession Headwinds

South Texas Port Caps Record Year; LNG Growth Seen Continuing Despite Recession Headwinds

Fresh off another record quarter, the Port of Corpus Christi in South Texas solidified a banner year in which tonnage reached new heights as demand soared for refined products and crude oil, along with LNG exports. The port achieved a new annual tonnage record of 187.9 million tons – a 12% increase over 2021 volumes,…

January 26, 2023
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