Daily GPI

Biden Order to Pause Federal Oil, Natural Gas Leasing Amid ‘Comprehensive Review’

Biden Order to Pause Federal Oil, Natural Gas Leasing Amid ‘Comprehensive Review’

President Biden on Wednesday was readying an executive order (EO) to direct the Department of the Interior (DOI) to pause new oil and natural gas leasing on federal lands and offshore waters as part of a “comprehensive review” of the program. “The targeted pause does not impact existing operations or permits for valid, existing leases,…

January 27, 2021
INGAA Decarbonizing Gas Transmission, Storage, Aiming to Hit Net Zero Emissions by 2050

INGAA Decarbonizing Gas Transmission, Storage, Aiming to Hit Net Zero Emissions by 2050

The Interstate Natural Gas Association of America (INGAA) on Tuesday made a bold commitment to work toward achieving net zero carbon emissions from their members’ domestic gas transmission and storage assets by 2050. The work, which builds on other efforts by INGAA’s members to combat climate change, is not tied to President Biden’s ambitious climate…

January 27, 2021
Natural Gas Futures Continue Climbing After More Cold Trends Overnight

Natural Gas Futures Continue Climbing After More Cold Trends Overnight

Overnight weather models extended a recent cold shift in the forecasts, giving natural gas futures continued upward momentum in early trading Wednesday. The expiring February Nymex contract was up 6.2 cents to $2.718/MMBtu at around 8:40 a.m. ET, while the March contract was trading 6.0 cents higher to $2.696. Another round of colder-trending weather data…

January 27, 2021
Natural Gas Futures Build Momentum as ‘Dead of Winter’ Arrives; Spot Prices Sail Higher

Natural Gas Futures Build Momentum as ‘Dead of Winter’ Arrives; Spot Prices Sail Higher

Natural gas futures extended gains on Tuesday, as traders absorbed news of weather forecasts shifting even colder after a similar change in models over the weekend. The weather outlooks increased the likelihood of robust heating demand the rest of January and into early February, fueling futures. The February Nymex gas futures contract settled at $2.656…

January 26, 2021
Venture Global Considering Fourth Gulf Coast LNG Export Project

Venture Global Considering Fourth Gulf Coast LNG Export Project

A pair of Venture Global subsidiaries is seeking federal approval to start the pre-filing process for a fourth liquefied natural gas (LNG) export terminal and associated pipeline along the Gulf Coast. In a filing last week, Venture Global CP2 LNG LLC and Venture Global CP Express LLC requested approval to initiate FERC’s pre-filing review process…

January 26, 2021
CME to Launch Global Emissions Offset Futures Contract

CME to Launch Global Emissions Offset Futures Contract

CME Group plans to launch a futures contract in March that would provide a regulated, market-based solution to manage global emissions risk. The Global Emissions Offset (GEO) futures contract, which is pending relevant regulatory reviews before a launch on March 1, was jointly developed with Xpansiv CBL Holding Group, a data and technology firm focused…

January 26, 2021
MVP Seeking Alternatives to Stalled Waterbody Crossing Permits for Natural Gas System

MVP Seeking Alternatives to Stalled Waterbody Crossing Permits for Natural Gas System

Seeking to wrap up construction on a project long ensnared in a tangle of legal and regulatory complications, Mountain Valley Pipeline LLC (MVP) will pursue a new strategy to obtain the waterbody and wetlands crossing approvals that represent the natural gas conduit’s final permitting hurdle. Instead of waiting out the legal process on its stayed…

January 26, 2021
BP Giving Chinese Customers Direct Link to LNG Imports

BP Giving Chinese Customers Direct Link to LNG Imports

BP plc has started to link downstream customers in China with liquefied natural gas (LNG) imports, creating a fully integrated supply chain in a country that continues to lead the world in energy consumption growth.  The first LNG cargo delivered under BP’s new terminal usage agreement arrived over the weekend at the Guangdong Dapeng LNG…

January 26, 2021
Natural Gas Futures Extend Rally Early on Heating Demand Gains Overnight

Natural Gas Futures Extend Rally Early on Heating Demand Gains Overnight

An increase in demand projections overnight from one of the major weather models helped natural gas futures extend their recent gains in early trading Tuesday. After surging 15.6 cents in Monday’s session, the February Nymex contract was up 4.7 cents to $2.649/MMBtu at around 8:40 a.m. ET. March was up 2.7 cents to $2.625. The…

January 26, 2021
February Natural Gas Futures Fly Higher on Expectations for Stronger Demand; Cash Prices Advance

February Natural Gas Futures Fly Higher on Expectations for Stronger Demand; Cash Prices Advance

After a bruising run a week earlier, natural gas futures rebounded Monday on substantial increases in expected heating demand over the weekend and a fresh bout of winter weather settling in across parts of the Midwest on Monday. The February Nymex gas futures contract jumped 15.6 cents day/day and settled at $2.602. The prompt month…

January 25, 2021
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