LNG

Russia’s control of global oil and natural gas supplies, and particularly LNG, has progressed with ExxonMobil’s exit from the Sakhalin-1 offshore oil project. ExxonMobil disclosed exited Sakhalin-1 after Russian President Vladimir Putin signed a decree expropriating the supermajor’s 30% stake “With its two recent decrees, the Russian government unilaterally terminated our interests in Sakhalin-1, and…

Heating demand could prove stronger this winter than last, given National Weather Service (NWS) forecasts for colder temperatures in northern markets. But robust production levels this fall should help balance prices and meet domestic market needs and increased international demand for LNG. That assessment is according to the American Gas Association’s (AGA) winter outlook, delivered…

The executive team of Houston-based Baker Hughes Co. acknowledged there were challenges during the third quarter of 2022, but overall the team remains optimistic about the emerging upcycle, with a continuing bullish view for LNG. The oilfield services (OFS) giant operates around the world in four segments: OFS, Oilfield Equipment (OFE), Turbomachinery & Process Solutions…

European natural gas prices continued to dip after the 27 European Union (EU) leaders agreed to a “roadmap” of emergency measures, including capping prices on gas sales, to help meet Europe’s energy crisis. Following many hours of negotiations, agreement was reached on several measures, including a proposal for a temporary price limit on gas transactions…

FERC is projecting elevated U.S. natural gas prices for the 2022-2023 winter, despite mild weather forecasts for most of the country and steadily rising domestic production. “Natural gas prices for the upcoming winter are expected to remain higher than recent years at major trading hubs across the U.S.,” Federal Energy Regulatory Commission staff said in…

With more mild early winter weather on tap, and with storage refilling quickly, natural gas futures added to their recent losses in early trading Monday. Coming off a 39.9-cent sell-off in the previous session, the November Nymex contract was down 6.1 cents to $4.898/MMBtu at around 8:45 a.m. ET. Plummeting futures prices reflect a market…

Buckling under the weight of one triple-digit shoulder season storage injection after another, natural gas forwards sold off sharply during the Oct. 13-19 trading period, NGI’s Forward Look data show. Regional forwards price action from coast to coast reflected a market reconsidering the extent of winter upside risks in light of a rapidly shrinking inventory…

Asia spot prices have fallen this week, with the December ‘22 ICIS East Asia Index (EAX) down more than 20% on 20 October from one week ago.

Natural gas and oil industry bellwether Schlumberger Ltd. has boosted capital spending for 2022 after posting better-than-expected results in the third quarter. The world’s largest oilfield services company issued its quarterly report on Friday, posting the highest profits in seven years as North America and international drilling climbed from ayear ago. CEO Olivier Le Peuch…