LNG

Natural gas futures on Monday dropped as mid-range weather worries overshadowed continued strong liquefied natural gas (LNG) levels. The December Nymex contract shed 11.0 cents day/day and settled at $3.244/MMBtu. January lost 9.4 cents to $3.375. Spot gas prices, meanwhile, dipped lower despite a chilly start to the week. NGI’s Spot Gas National Avg. fell…

A spike in Covid-19 cases and renewed lockdowns in Europe are pressuring global commodity prices as the week gets underway. European natural gas prices declined last week, halting the recent gains of the continent’s key benchmarks. Warmer weather combined with new lockdowns announced in France, Germany and the UK have pushed down prices. The prompt…

Despite an expected rise in liquefied natural gas (LNG) prices this winter, Italian supermajor Eni SpA does not expect to earn a profit in the fourth quarter from its global gas and power business because it already optimized trading in the first three quarters of the year, management said during a third quarter earnings call…

ExxonMobil, which gave oomph to the North American natural gas revolution a decade ago, warned Friday its assets are facing a writedown of $25-30 billion and could be for sale.  An internal assessment is underway to determine the fate of the dry gas assets, principal financial officer Andrew Swiger said during the quarterly conference call.…

Chevron Corp. continues to see lower demand for oil and natural gas from Covid-19, but it is focusing on what it can control, CEO Michael Wirth said. The San Ramon, CA-based major issued its third quarter results Friday, highlighting the completion of its takeover of Noble Energy Inc. and the startup of some alternative energy…

Natural gas forward markets were lower for the Oct. 22-28 period as lackluster demand in key demand regions of the Lower 48 tempered prices, according to NGI’s Forward Look. Losses were mostly pronounced in the Northeast and in the Permian Basin, where pipeline work sparked increased volatility this week. Most of the price action was…

The Energía Costa Azul (ECA) natural gas export project in Mexico’s Baja California has yet to receive an export approval from the Mexican government despite a new push to support the exports but sanctioning could happen later this year, Infraestructura Energética Nova (IEnova) executives said last week. The proposed two-phase liquefied natural gas (LNG) project,…

Belgium-based Exmar recently reached a settlement agreement with Argentina state oil and gas firm YPF SA over the Tango floating liquefied natural gas (FLNG) vessel docked at the Bahía Blanca port. YPF issued a force majeure notice in June claiming it couldn’t meet the terms of its charter agreement for the Tango vessel because of…

Royal Dutch Shell plc CEO Ben van Beurden acknowledged Thursday there may be some pain associated with the share price in constricting oil and gas activities as it moves toward a carbon-free goal, but customers “increasingly” are embracing the global energy transition. Customers are calling for more carbon-neutral fuel, oil and natural gas, including for…