LNG

Repsol SA has agreed to purchase liquefied natural gas (LNG) from Venture Global LNG Inc.’s Plaquemines export project in Louisiana.  The Spanish-based energy major agreed to the deal in January. Repsol would take 18.25 Bcf of LNG over three years, according to a filing with the U.S. Department of Energy. Initial construction activities started in…

Natural gas futures were choppy Tuesday. Prices swung sharply higher early on the increasing potential for cold weather to linger into early March, but then retreated significantly as part of a broader commodities sell-off amid easing political tensions. The last half hour of trading brought another surge following the latest weather data, with the March…

Rebounding industrial activity – and energy needed to fuel it – along with continued strong demand for U.S. exports could drive natural gas consumption through 2022, according to analysts who presented during a webinar (replay available) hosted Tuesday by Natural Gas Intelligence (NGI) and Independent Commodity Intelligence Services (ICIS). An accelerating U.S. economy and manufacturing…

Europe’s recent energy shortages have laid bare the continent’s need for stable natural gas supplies as it decarbonizes its economy, according to the management team of Norway’s Equinor ASA. CEO Anders Opedal helmed a conference call earlier this month with analysts to discuss the majority state-owned energy major’s fourth quarter and full-year 2021 earnings. “The…

Australia’s Origin Energy Ltd. expects to write off $190-200 million by selling a 10% stake in the Australia Pacific liquefied natural gas (LNG) venture. Ahead of the release of its half-year results on Thursday, the integrated energy company disclosed that the completion of the sale by the end of March will likely leave the company…

A roundup of news and commentary from NGI’s LNG Insight  European natural gas prices on Tuesday tumbled to their lowest point this year after Russia said it was pulling back some troops amassed near the Ukraine border. The March Dutch Title Transfer Facility (TTF) contract shed more than $3/MMBtu and finished the day under $24.…

Natural gas spot prices at Henry Hub are set to average $4.70/MMBtu in February, according to updated projections from the Energy Information Administration (EIA), though the agency cautioned that its forecast is subject to weather uncertainty. Spot prices at the national benchmark averaged $4.38 in January, an increase above average prices of $3.76 in December,…

The growing threat of a Russian invasion of Ukraine had the energy market on edge Monday, when oil and natural gas prices again moved higher. The standoff has also upended metals markets, weighed on equities and is creating additional inflationary pressures. The U.S. warned Friday that an attack could be imminent, sending commodity prices up.…

Riding momentum from a colder shift in one of the major weather models, natural gas futures advanced in early trading Monday. The March Nymex contract was up 11.6 cents to $4.057/MMBtu at around 8:45 a.m. ET. The European weather model trended colder over the weekend, showing chillier temperatures moving into the northern part of the…