Natural gas isn’t going anywhere soon and overall demand for U.S. gas will keep growing on the back of rising exports, according to Mercuria Energy Co.’s Charles Blanchard. Blanchard, head of North American natural gas research, recently published an exhaustive study on the history of natural gas in the United States called, “The Extraction State.”…
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Near-Record Export Demand Fuels More Gains for Natural Gas Futures, Cold Snap Boosts Cash
Natural gas futures resumed their climb on Monday, buoyed by near-record export demand and the arrival of chilly weather. With the latest forecast extending and intensifying the cooler temperatures, the May Nymex contract settled 6.9 cents higher at $2.749. June climbed 6.4 cents to $2.818. Spot gas prices also moved higher in most areas outside…
NextDecade, Project Canary Launch GHG Monitoring Pilot for Rio Grande LNG
U.S. liquefied natural gas (LNG) developer NextDecade Corp. is teaming up with Project Canary to measure greenhouse gas (GHG) emissions associated with cargoes from the planned Rio Grande export facility in Texas, an effort the companies said is the first of its kind in the global LNG industry. The joint pilot project would focus on…
Chillier Forecast, ‘Elevated’ Exports Send Natural Gas Futures Higher Early
Riding momentum from strong export levels and continued colder trends from forecasts over the weekend, natural gas futures probed several cents higher in early trading Monday. The May Nymex contract was up 3.9 cents to $2.719/MMBtu at around 8:40 a.m. ET. In its latest 15-day forecast Monday Bespoke Weather Services added nine gas-weighted degree days…
Natural Gas Prices, Demand Likely to Stay Resilient in Low-Carbon World, Analysts Find
Natural gas prices and demand are likely to stay resilient even if human-induced global warming is contained to 2 degrees celsius or less, according to new analysis by Wood Mackenzie. The 2-degree goal was established under the 2015 United Nations global climate agreement, aka the Paris Agreement. Replacement of coal with gas-fired power generation in…
With Spring Chill and Export Momentum, May Natural Gas Futures Close Week on High Note
Natural gas futures forged higher on Friday, marking the fourth time during the week the prompt month finished in the green. Robust liquefied natural gas (LNG) volumes, coupled with seasonally strong weather-driven demand, fueled the rally. The May Nymex contract settled at $2.680/MMBtu Friday, up 2.2 cents day/day. June advanced 2.4 cents to $2.754. NGI’s…
ICE Again Reports Record TTF Trading Activity in March as LNG Market Braces for Tight Summer
Intercontinental Exchange Inc. (ICE) again saw record activity in March across its European Title Transfer Facility (TTF) benchmark as the global liquefied natural gas (LNG) market is seen tightening. Open interest on TTF hit an unprecedented 18,184 lots on March 30, nearly 8% higher than the record previously reported in February, ICE said in a…
Natural Gas Forwards Rally as LNG, Mexican Exports Firing on All Cylinders; Further Momentum Likely
April chills brought higher futures prices and modest shoulder season gains for natural gas forwards throughout the Lower 48 during the trading week ending April 14, according to NGI’s Forward Look. For the April 8-14 period, fixed prompt-month prices at Henry Hub added 10 cents to average $2.619/MMBtu. Stronger prices at the national benchmark, which…
Euro Model Seen Colder Overnight as May Natural Gas Futures Advance
Colder overnight trends for late April from one of the major weather models saw natural gas futures climb several cents in early trading Friday. The May Nymex contract was up 3.1 cents to $2.689/MMBtu at around 8:50 a.m. ET. The European weather model added 12 heating degree days (HDD) overnight, with colder trends impacting the…
Pressure Eases on Natural Gas Prices, with May Futures Up After Storage Report
Natural gas futures prices rebounded Thursday as the government’s weekly inventory report proved bullish, and both weather forecasts and demand for U.S. exports remained favorable. The May Nymex contract settled at $2.658/MMBtu, up 4.0 cents day/day. June gained 3.7 cents to $2.730. NGI’s Spot Gas National Avg. rose 4.5 cents to $2.565, continuing a weeklong…