LNG

Fueled by unrelenting heat across Pacific Northwest, Western Canada and the East Coast, natural gas forwards surged in the trading period ending June 30, according to NGI’s Forward Look. August prices shot up an average 19.0 cents over the six-day period, led by an astounding C28.0-cent climb at NOVA/AECO C. The stout gains continued throughout…

Qatar Petroleum (QP) has inked another long-term sales and purchase agreement (SPA) to supply Royal Dutch Shell plc with 1 million tons (Mt) of liquefied natural gas (LNG).  Under the deal, QP would begin providing Shell with supplies from its Qatargas 1 trains beginning in January for 10 years. Shell would then deliver the cargoes…

A roundup of news and commentary from NGI’s LNG Insight A global commodity rally continued Thursday. Dutch gas futures soared to an all-time record by jumping above $12/MMBtu, while spot LNG prices in North Asia were assessed near $14. In the United States, the Henry Hub prompt contract increased by 1 cent to close at…

Morgan Stanley & Co. LLC has lifted its forecast for key natural gas benchmarks in Asia, North America and Europe amid surging demand, limited supply and low natural gas storage inventories across the world.  Morgan Stanley analysts led by Devin McDermott said global gas demand continues to “surprise to the upside,” particularly in China. Gas…

Houston, the acknowledged energy capital of the United States, can lure substantial investments and create thousands of jobs by stepping up to lead the transition to a low-carbon future, top city leaders said this week. The Greater Houston Partnership on Tuesday unveiled a bold strategy for the fourth largest city in the country. In kicking…

A roundup of news and commentary from NGI’s LNG Insight U.S. natural gas futures increased for a seventh day Tuesday, the longest stretch of gains in years amid oppressive heat and rolling blackouts in the Pacific Northwest. The August contract gained two cents to finish at $3.650.   When gas hits the upper $3/MMBtu range, the…

Sempra has scaled back plans to expand the Cameron liquefied natural gas (LNG) export facility in Louisiana, citing design innovations and the “high performance” of the existing three-train plant. The expansion originally called for two trains and two new storage tanks, adding 9.97 million metric tons per year (mmty) of capacity. However, Sempra (formerly Sempra…

Baltic Exchange CEO Mark Jackson believes the nearly 300-year-old organization “sells trust” to the maritime industry, something that has factored heavily into its entry into the liquefied natural gas (LNG) market.  Founded in 1744, the Baltic had its beginnings in the coffee houses of London where merchants and shipowners met. It provided rules for backroom…

A roundup of news and commentary from NGI’s LNG Insight Russia did not book additional interruptible pipeline transportation capacity for July through Ukraine at the Sudzha entry point at an auction Tuesday. It was the third month in a row that Gazprom PJSC elected not to take interruptible capacity to move more supplies to Europe.  …