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Prelude FLNG Cancels Cargo Deliveries Amid Union Strike

Prelude FLNG Cancels Cargo Deliveries Amid Union Strike

The Prelude floating liquefied natural gas (LNG) export facility offshore Western Australia has canceled cargo deliveries through mid-July as labor unions representing workers on the vessel initiate work stoppages. Shell plc told multiple news outlets this week that it has notified customers of the cancellations, citing the impacts of a strike that started on June…

June 29, 2022
European Benchmarks Hit Fresh Highs on ICE Amid Push to Secure More Natural Gas

European Benchmarks Hit Fresh Highs on ICE Amid Push to Secure More Natural Gas

German and Italian natural gas futures listed on the Intercontinental Exchange (ICE) hit fresh highs in May amid a scramble in Europe to secure supplies in the months since Russia invaded Ukraine.  European benchmark Title Transfer Facility futures saw 2.8 million lots traded last month, up 5% from April. ICE added that German Trading Hub…

June 29, 2022
Freeport LNG Outage Proves Need to Boost Natural Gas Output, Says Huntsman CEO

Freeport LNG Outage Proves Need to Boost Natural Gas Output, Says Huntsman CEO

Barring an increase in domestic natural gas production, the United States should stay the course with regard to liquefied natural gas (LNG) export volumes, the top executive at global chemical manufacturer Huntsman Corp. told NGI. “I don’t think we should be exporting any more LNG than we are today if we’re not going to, conversely,…

June 29, 2022
Williams Sanctions 1.8 Bcf/d Louisiana Energy Gateway to Deliver Haynesville Supply to Industrial, LNG Markets

Williams Sanctions 1.8 Bcf/d Louisiana Energy Gateway to Deliver Haynesville Supply to Industrial, LNG Markets

Williams on Wednesday hit the green light for the Louisiana Energy Gateway (LEG), a 1.8 Bcf/d natural gas system designed to move Haynesville Shale supply to industrial markets and for export overseas. The LEG system, set for service by late 2024, would deliver Haynesville gas to industrial corridors and to liquefied natural gas (LNG) export…

June 29, 2022
Overnight Forecasts Maintain Strong July Heat as Natural Gas Futures Climb Early

Overnight Forecasts Maintain Strong July Heat as Natural Gas Futures Climb Early

Bolstered by continued expectations for robust July cooling demand, natural gas futures advanced in early trading Wednesday. Heading into its first session as the prompt month, the August Nymex contract was up 13.0 cents to $6.700/MMBtu at around 8:50 a.m. ET.  The overnight runs of the American and European weather models maintained hotter trends from…

June 29, 2022
July Nymex Natural Gas Contract Loses Momentum, but Still Expires Nickel Higher

July Nymex Natural Gas Contract Loses Momentum, but Still Expires Nickel Higher

Natural gas futures extended their rally as a hotter long-range forecast, a dip in production and bullish technical momentum lifted the prompt month ahead of expiration. The July Nymex contract rolled off the board at $6.551/MMBtu, up 5.0 cents on the day. The August contract, which moves to the front of the Nymex curve on…

June 28, 2022
EU Countries Face Market Realities of Restocking Natural Gas After 80% Storage Rule

EU Countries Face Market Realities of Restocking Natural Gas After 80% Storage Rule

With an official natural gas storage plan by the European Union (EU) in hand, member countries are bearing down on filling reserves while the market keeps a wary eye on volumes from Russia and U.S. liquefied natural gas (LNG) producers. The European Commission (EC) solidified on Monday a plan that directs storage facilities in member…

June 28, 2022
Bullish North American Natural Gas Marketers – Listen Now to NGI’s Hub & Flow

Bullish North American Natural Gas Marketers – Listen Now to NGI’s Hub & Flow

Click here to listen to the latest episode of NGI’s Hub & Flow podcast. In this episode, senior editor Kevin Dobbs delves into NGI’s latest NGI Top North American Natural Gas Marketers rankings. Leading marketers collectively boosted sales volumes in 1Q2022, gaining ground amid robust domestic activity and an acceleration of global demand for exports…

June 28, 2022
G7 Nations Vow to Follow Through on Russian Oil Price Cap

G7 Nations Vow to Follow Through on Russian Oil Price Cap

Leaders of the Group of Seven (G7) nations on Tuesday culminated a three-day summit emphasizing they were united in a commitment to back Ukraine for “as long as it takes” to expel Russia, though they stopped short of finalizing the centerpiece of new sanctions that would cap prices on Kremlin-backed oil. Members of the consortium…

June 28, 2022
BP Says Energy Consumption at Historic Levels in 2021 as Natural Gas, Renewables Use Climbs

BP Says Energy Consumption at Historic Levels in 2021 as Natural Gas, Renewables Use Climbs

With people back to work and on the road following the relentless Covid restrictions in 2020, energy consumption made a historic comeback last year – particularly natural gas and renewables – according to BP plc. Primary energy demand rebounded overall by 5.8%, eclipsing the pre-Covid levels in 2019, according to the 71st edition of the…

June 28, 2022