European liquefied natural gas (LNG) imports are on track to beat last year’s levels, driven in part by strong deliveries from the United States earlier in 2020, according to data intelligence firm Kpler. The firm said this week domestic gas exports to Europe have nearly doubled this year, thanks in large part to a particularly…
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Potential Mid-December Cold Offers Hope for Bulls as Natural Gas Futures Called Higher
Natural gas futures were trading slightly higher early Tuesday as forecasters continued to point to a potential shift toward colder temperatures around the middle of the month. The January Nymex contract was up 1.1 cents to $2.893/MMBtu at around 8:45 a.m. ET. The European weather model trended milder overnight by showing less cold moving into…
January Natural Gas Futures Advance on Signs of Stronger Heating Demand; Spot Prices Spike
Natural gas futures climbed Monday as more intense winter weather loomed and forecasters predicted colder temperatures over the first half of December, increasing the likelihood of greater heating demand. The January Nymex contract rose 3.9 cents day/day to settle at $2.882/MMBtu after taking over as the prompt month following the Thanksgiving holiday. February advanced 3.3…
LNG Recap: Cold Weather Extends Global Natural Gas Price Gains
Global natural gas prices on Monday extended gains made last week as colder weather has settled in key markets across the world, driving demand for liquefied natural gas (LNG) exports. Henry Hub for January delivery continued to climb Monday on colder temperatures forecast for parts of the southern and eastern United States. U.S. natural gas…
Global Oil, Gas Demand Seen Peaking Sooner, Lower Because of Covid-19
Concerns about peak oil demand and stranded assets may curtail the energy industry’s appetite for sanctioning projects with long lead times, according to Raymond James & Associates Inc. The analyst team led by Pavel Molchanov in a note to clients on Monday said forecasting the peak of global oil demand is unsure “but suffice it…
Canada Said to Need Low-Carbon Tech, Policy Changes to Meet Net-Zero Emissions Goal
Canadian oil and gas production will climb for another 20 years without policy changes to help meet the federal government’s new target for net-zero carbon emissions by 2050, the Canada Energy Regulator (CER) said. In the report “Canada’s Energy Future 2020” issued on Tuesday, a CER reference scenario of business as usual forecasts a 47%…
Venture Global Selects KBR to Lead Construction on Phase One of Plaquemines LNG
Venture Global LNG Inc. has selected KBR Inc. to lead the first phase of construction for its Plaquemines liquefied natural gas (LNG) export project in a surprise announcement just months after KBR said it would exit the energy business. Venture Global said as the engineering, procurement and construction (EPC) contractor KBR would “integrate highly modularized,…
U.S. Natural Gas Prices to Average $3.30 in 2021, with Summer Even Higher, Says BofA
U.S. natural gas prices are forecast to average $3.30/MMBtu in 2021, with even higher prices predicted next summer, according to BofA Securities. The analyst team led by Francisco Blanch, head of commodities and derivatives research, discussed the outlook for energy overall during a webcast on Tuesday. “The bottom line is that higher prices are needed…
Biden Names Kerry as Climate Change Envoy, Says Domestic Policy Coordinator to Follow
President-elect Joseph R. Biden Jr. on Tuesday introduced several potential cabinet-level members of his foreign policy and national security team, including former Secretary of State John Kerry as the first-ever climate change czar. In addition to proposing Kerry as special presidential envoy for climate, Biden’s nominees as of Tuesday included National Security Advisor Jake Sullivan,…
MPL Chief Sees Room for Three LNG Export Projects on Mexico’s Pacific Coast
Mexico’s Pacific Coast could see more than one natural gas export project being developed in the coming years as Asian markets increase their appetite for imports of cheap and reliable U.S. gas via the shortest transport route possible. Mexico Pacific Ltd. LLC’s (MPL) CEO Doug Shanda thinks his company’s liquefied natural gas (LNG) export project…