With signs of a February warm-up going a long way toward assuaging any lingering supply concerns, natural gas forwards plummeted during the Feb. 2-9 trading period, NGI’s Forward Look data show. Shedding value like a winter coat on an unseasonably warm sunny afternoon, benchmark Henry Hub fixed price trades plunged $1.492 to average $4.019/MMBtu during…
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Venture Global Gets OK to Load First LNG Commissioning Cargo
FERC has authorized Venture Global LNG Inc. to load its first liquefied natural gas (LNG) export cargo from its Calcasieu Pass terminal in Louisiana. The Federal Energy Regulatory Commission cleared the terminal’s first commissioning cargo Friday, one week after the company requested authorization to load an LNG tanker on or after February 9. The Greece-flagged…
Late February Pattern ‘Quite Bearish’ as Natural Gas Futures Grind Lower
As overnight weather model runs continued to hone in on a turn toward milder conditions for the Lower 48 in late February, natural gas futures skidded lower in early trading Friday. The March Nymex contract was off 6.7 cents to $3.892/MMBtu at around 8:50 a.m. ET. Prices popped above $4 overnight following demand gains from…
TotalEnergies Gains in LNG Sales on Rising U.S. Output
TotalEnergies SE leveraged its globally integrated liquefied natural gas (LNG) portfolio last year to capitalize on soaring commodity prices and turn in what management said were historic financial results. “We went from I would say the historic bottom in terms of results last year…to record results and cash flows in 2022,” said CEO Patrick Pouyanné.…
Southwestern, Range Expanding RSG Label for U.S. Supply; Tallgrass in CO2 Deal
Two of the top natural gas producers in the Lower 48, Southwestern Energy Co. and Range Resources Corp., are expanding their efforts to certify supply in separate agreements with Project Canary. In one agreement, Range Resources entered into an ongoing deal with Houston-based Engie Energy Marketing to market its supply under Project Canary’s responsibly sourced…
Canada Formally Rejects Energie Saguenay’s 1.4 Bcf/d LNG Export Proposal for Quebec
Canada’s federal cabinet has formally rejected the Energie Saguenay liquefied natural gas (LNG) export project in Quebec, ending an eight-year effort born in California. Canada Environment Minister Steven Guilbeault announced that the cabinet ratified a negative verdict on the $10.6 billion project following the rejection last September by the Impact Assessment Agency of Canada (IAAC).…
LNG 101: How Natural Gas Would Be Impacted If Russia Invades Ukraine
The geopolitical standoff between Russia and Ukraine has deepened turmoil in Europe’s natural gas market and laid bare its dependence on energy imports, but it remains highly unlikely that Russia would halt all natural gas flows or even significantly curb deliveries to the continent. Russia’s Gazprom PJSC “does not need to stop gas to wreak…
Researchers Shed New Light on Methane ‘Ultra-Emitters’ with Satellite Analysis
Using what they call “groundbreaking” methods, researchers in a new paper claimed to have found up to 12% of the globe’s methane emissions are coming from massive but often overlooked releases from major oil and gas producing regions. The paper, published Thursday in the peer-reviewed journal Science, used thousands of daily images from a European…
Freight Rates Dip Below Zero as More U.S. Ships Move to Europe – LNG Recap
Spark Commodities reported its first ever negative spot liquefied natural gas (LNG) freight rate on Tuesday as a glut of tankers in the Atlantic Basin that are moving cargoes faster to Europe has dragged down rates. Spark assessed Atlantic Basin rates at minus $750/day, reflecting what CEO Tim Mendelssohn said is an increase in vessel…
Cedar LNG Sets 2023 Target to Begin Terminal for BC Export Proposal
The first native contender for Canadian liquefied natural gas (LNG) exports has hired engineering contractors, entered the final stage of environmental review and confirmed a 2023 target date to start building a tanker terminal. Cedar LNG, created by the Haisla Nation at its Kitimat site on the northern Pacific coast of British Columbia (BC), on…