Daily GPI

Natural Gas Futures Rise, but Supply Side Chatter Ramps Up Given Uninspiring Demand Outlook

Natural Gas Futures Rise, but Supply Side Chatter Ramps Up Given Uninspiring Demand Outlook

Natural gas futures churned out another price gain on Tuesday, with analysts largely seeing the move higher as technically driven rather than fueled by any significant change in the supply/demand balance. The March Nymex gas futures contract climbed 12.7 cents  on the day to $2.584/MMBtu, while April futures picked up 12.9 cents to $2.664. Spot…

February 7, 2023
NextDecade Urges FERC to Act on Rio Grande LNG Approval

NextDecade Urges FERC to Act on Rio Grande LNG Approval

NextDecade Corp. has requested FERC respond to a court’s 18-month-old order to revisit the approval of Rio Grande LNG as it seeks to move the Texas export terminal project forward. In a letter to the Federal Energy Regulatory Commission, NextDecade CEO Matthew Schatzman urged Acting Chairman Willie Phillips to act on the remand issued by…

February 7, 2023
ExxonMobil Affiliate Signs Binding Offtake Deals With Mexico LNG Project

ExxonMobil Affiliate Signs Binding Offtake Deals With Mexico LNG Project

Mexico Pacific Limited LLC (MPL) and ExxonMobil LNG Asia Pacific have signed two long-term offtake agreements for MPL’s Saguaro Energía liquefied natural gas export terminal proposed for Puerto Libertad in Mexico’s Sonora State. Under the 20-year sales and purchase agreements (SPA), the ExxonMobil subsidiary would purchase a combined 2.0 million metric tons/year (mmty) of LNG…

February 7, 2023
EIA Slashes 2023 Henry Hub Forecast as Supply Growth Seen Outpacing Demand

EIA Slashes 2023 Henry Hub Forecast as Supply Growth Seen Outpacing Demand

In a nod to the steep decline in natural gas prices following mild weather this winter, the Energy Information Administration (EIA) is slashing its 2023 Henry Hub forecast, with the agency now modeling a 50% discount versus 2022 prices. The “significantly warmer-than-normal” weather in January depressed space heating demand and padded storage inventories, EIA said…

February 7, 2023
BP Prioritizing Oil and Natural Gas Output, Reducing Climate Targets

BP Prioritizing Oil and Natural Gas Output, Reducing Climate Targets

BP plc, one of the first majors committed to reducing oil and natural gas production in the transition to net-zero carbon, has reversed course to ensure global energy security. The goal to cut fossil fuels output to net-zero carbon by 2050 remains in place. However, Russia’s invasion of Ukraine and other global events have reduced…

February 7, 2023
Repsol Wins Extension for European Exports From Saint John LNG

Repsol Wins Extension for European Exports From Saint John LNG

Repsol SA has moved closer to providing LNG to Europe from the east coast of Canada after securing an export license amendment despite objections from a Nova Scotia natural gas distributor. The Canada Energy Regulator (CER) granted Repsol’s Saint John LNG Development Co. (SJLNG) a six-year extension, giving the company until May 2032 to begin…

February 7, 2023
Wärtsilä Tapped for 190 MW Natural Gas Peaker in Central Texas

Wärtsilä Tapped for 190 MW Natural Gas Peaker in Central Texas

The Lower Colorado River Authority (LCRA) has enlisted Wärtsilä Energy to construct a new natural gas-fired peaker plant in Central Texas to support the region’s increased electricity demand amid a booming population. The plant, expected to come online in 2025, could be called on in minutes to be used for brief periods of time when…

February 7, 2023
Natural Gas Futures Advance Early as ‘Muted’ Relief Rally Said Possible

Natural Gas Futures Advance Early as ‘Muted’ Relief Rally Said Possible

Helped along by colder trends in the forecast for later this month, natural gas futures advanced in early trading Tuesday as analysts saw potential for a modest rebound in prices in the wake of relentless selling. After eking out a 4.7 cent gain in the previous session, the March Nymex contract was up 7.1 cents…

February 7, 2023
Oversold Natural Gas Futures Eke Out Small Price Gain, but Cash Continues to Retreat

Oversold Natural Gas Futures Eke Out Small Price Gain, but Cash Continues to Retreat

Coming off a week in which natural gas futures tumbled nearly 30 cents at the front of the curve, the Nymex March contract appears to be trying to find a bottom. The prompt month traded mostly range bound throughout Monday’s session before ultimately settling 4.7 cents higher at $2.457/MMBtu. At A Glance: Production recovering Weather…

February 6, 2023
New Fortress Planning FLNG Stake Sale to Golar as Focus Turns Inward

New Fortress Planning FLNG Stake Sale to Golar as Focus Turns Inward

New Fortress Energy Inc. (NFE) has agreed to sell its stake in Golar LNG Ltd.’s floating liquefied natural gas (FLNG) production platform in Cameroon as it focuses on increasing utilization of its fleet and strengthening returns to investors. New York-based NFE will sell its stake in the 2.4 million metric ton/year platform Hilli Episeyo for…

February 6, 2023
‹ Previous 1 2 3 6,527