LNG

The Group of Seven (G7) nations on Monday pursued new sanctions, notably including a potential price cap on Russian oil, in an effort to cripple the Kremlin’s vital energy complex and hamstring its ability to finance the war in Ukraine. The United States, as part of the three-day G7 gathering that started Sunday, also vowed…

After slightly cooling on an apparent price correction, European energy markets started the week with another leap upward as the European Union (EU) formalized its winter natural gas storage plan. The EU countries officially ratified a plan Monday to reach 80% of natural gas storage capacity available among the 27-country bloc by the winter heating…

In a huge reversal from last month, natural gas prices for July baseload are trending sharply lower amid weaker liquefied natural gas (LNG) demand stemming from an explosion at the Freeport export terminal. Forecasts for less extreme heat than what has been seen so far this month also were weighing on July prices, according to…

As Egypt’s role as an option for sending more natural gas to Europe solidifies, the country’s petroleum ministry has announced a new tentative partnership with Chevron Corp. to explore ways to boost its liquefied natural gas (LNG) exports. In a memorandum of understanding (MOU) announced by Egypt’s Ministry of Oil and Mineral Resources, Chevron and…

Bearish-trending fundamentals data over the weekend kept the pressure on natural gas futures in early trading Monday. The expiring July Nymex contract, scheduled to roll off the board Tuesday, was off 3.5 cents to $6.185/MMBtu at around 8:45 a.m. ET. August was down 2.8 cents to $6.253. Prices have been facing downward pressure from a…

As summer heat failed to provide the spark needed to sustain higher prices, lost demand from the Freeport liquefied natural gas (LNG) terminal outage continued to erode value in the natural gas forwards market during the June 16-22 trading period. According to NGI’s Forward Look data, benchmark Henry Hub fell 56.2 cents week/week to average…

Russian pipe gas flows to Europe fell again and will likely remain heavily curtailed over the coming weeks. This was a key driver behind price rises at the ICIS TTF which in turn lifted the ICIS East Asia Index (EAX) back to prices last seen in March.

Germany, The Netherlands, Germany and the UK have each reversed decisions to decrease oil and natural gas development in the wake of Russia’s war on Ukraine, supporting the need to reduce dependence on fossil fuel imports. Russia’s Gazprom PJSC in late May said it planned to discontinue supplying the Netherlands with gas after Dutch wholesaler…

As traders continued to assess the implications of a bearish miss in the latest government inventory data, particularly in light of missing demand from downtime at a major U.S. export terminal, natural gas futures pared some of their recent losses early Friday. Coming off a 61.9-cent walloping in the previous session, the July Nymex contract…