LNG

Utility FortisBC Energy Inc. plans to double the truck loading capacity at its Tilbury Liquefied Natural Gas (LNG) Facility in Delta, British Columbia (BC), to meet growing customer demand. Tilbury has selected Clough as the general contractor to build two new loading bays at the terminal. The facility currently fills more than 1,000 LNG containers…

A roundup of news and commentary from NGI’s LNG Insight  European LNG imports were down 42% year/year over the last seven days, Tudor, Pickering, Holt & Co. said Wednesday. North Asian prices are pulling cargoes away from the continent, while warmer weather has dented demand. The forecast is growing chillier.  Vitol has reportedly sold an…

Natural gas futures plummeted Wednesday as weather models continued to seesaw, production increased, export cargoes were reportedly cancelled, and the latest government inventory print fell shy of market expectations. The January Nymex contract settled at $2.608/MMBtu, down 17.2 cents day/day. February fell 16.1 cents to $2.588. NGI’s Spot Gas National Avg., meanwhile, dropped 18.0 cents…

The UK would end government-funded financial support for overseas oil, natural gas and coal projects under a plan announced this month by Prime Minister Boris Johnson as the country continues to jockey for position in the global fight against climate change.  The policy would end taxpayer support for export finance, aid funding and trade promotion…

Global natural gas prices are soaring as the week gets underway amid increasing demand in Asia and colder weather in Europe. The Dutch Title Transfer Facility, the dominant price marker in Europe, hit its highest point in nearly two years during Tuesday trading. TTF is moving higher after falling last week amid lackluster heating demand,…

Royal Dutch Shell plc expects to write down between $3.5 billion to $4.5 billion during the fourth quarter because of impairments, asset restructuring and onerous contracts. It would be the third time this year the Anglo-Dutch supermajor has written down assets. In a fourth quarter update, Shell said it expects to take a partial impairment…

Despite favorable weather news, natural gas futures traded sideways Monday as worries mounted over a still-surging coronavirus pandemic and its potential impacts on economies and energy demand. The January Nymex contract settled at $2.705/MMBtu, up a half-cent day/day. February ticked up eight-tenths of a cent to $2.689. NGI’s Spot Gas National Avg., meanwhile, declined 19.5…

Royal Dutch Shell plc is simplifying its portfolio with an agreement to sell a minority interest in the Queensland Curtis liquefied natural gas (QCLNG) common facilities to Global Infrastructure Partners Australia for $2.5 billion. Shell subsidiary QGC Common Facilities Company Pty Ltd. is selling a 26.25% stake in the QCLNG facility, which includes LNG storage…

As the pandemic eases and the global economy recovers, $11 billion of Australian natural gas projects could be sanctioned as soon as next year, according to a report released this month by consultancy Wood Mackenzie. The country has helped drive growth in global liquefied natural gas (LNG) supplies in recent years and exports are expected…