EQT Corp. said it would continue cutting 1 Bcf/d of production as U.S. natural gas prices remain near four-year lows, but management anticipates strong power generation demand in the coming years that has it planning an expansion of the Mountain Valley Pipeline (MVP). After a seven-year battle and a congressional mandate rescued the system from…
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EU Energy Watchdog Says LNG Demand Could Peak This Year
The European Union’s (EU) LNG demand is likely to peak this year and buyers on the continent are likely to be over-contracted by 2030 as efforts to displace Russian natural gas over the last two years have been successful, according to the bloc’s energy watchdog. Since 2022, when Russia invaded Ukraine and cut off gas…
Scorching Summer Forecast Sets Stage for Strong Natural Gas Demand, Price Recovery
From Texas to both corners of the North, the National Weather Service (NWS) now expects above-average summer heat across the vast majority of the country this summer – a welcome development for natural gas bulls. If the outlook proved accurate, it would drive sustained elevated gas demand for the first time in 2024, helping to…
Eagle Ford, SCOOP/STACK Said Ripe for Consolidation While Natural Gas Prices Low
Privately held exploration and production (E&P) firms in the Eagle Ford Shale and Midcontinent regions could prove attractive targets for public producers seeking exposure to future strengthening of natural gas prices, according to Enverus Intelligence Research (EIR). EIR’s Andrew Dittmar, principal analyst, highlighted the Eagle Ford, the South Central Oklahoma Oil Province (SCOOP) and the…
Natural Gas Futures Pull Back Early as Market Continues to Mull Mild Temps, Weak Production
After advancing over the previous two sessions, natural gas futures pulled back in early trading Wednesday as mild shoulder season weather continued to dampen the outlook despite continued production restraint. The May Nymex contract, set to expire later this week, was down 5.3 cents to $1.759/MMBtu at around 8:45 a.m. ET. June was down to…
Natural Gas Futures Climb for Second Day as Maintenance Sends Output Lower
Natural gas futures finished higher Tuesday after a choppy session that began in the red, supported by a rebound in U.S. LNG exports and a blitz of pipeline maintenance that sent gas production estimates lower. At A Glance: West Texas prices flip positive MVP pipeline ready to start in May Production falls below 97 Bcf/d…
Texas LNG Plans to Start Construction This Year After EQT Tolling Deal Expanded
EQT Corp. has expanded an agreement to ultimately give it 2 million metric tons/year (mmty) of natural gas liquefaction capacity at Glenfarne Energy Transition LLC’s proposed export plant in Brownsville, TX. EQT, the largest U.S. natural gas producer, has signed another heads of agreement with Glenfarne for 1.5 mmty of tolling capacity at Texas LNG…
Mountain Valley Pipeline Submits In-Service Request as Project ‘Nearing Completion’
Nearly seven years after receiving federal certification to build its 303-mile, 2 million Dth/d natural gas conduit, Mountain Valley Pipeline LLC (MVP) has requested FERC authorization to place the project into service. MVP in a written request filed by its legal counsel Monday asked the Federal Energy Regulatory Commission to approve its in-service request by…
Planning Said Essential for Natural Gas Utilities Lacking Pipeline Capacity to Move Supply to Market
In a natural gas market where abundant supplies and a lack of demand have depressed prices, the scarcity of pipeline capacity has added to the complexity for buyers who must ensure daily deliverability to customers, a panel of executives said recently. “When you talk about supply and demand in pricing, I have been in the…
Don’t Look Now but North American Natural Gas Demand to Soar in ‘25 and Beyond, Says Halliburton CEO
The timing for the next leg of growth in North America remains uncertain, but there’s “no question” that natural gas output will drive the market into 2025 and beyond because of LNG exports and rising electricity demand, Halliburton Co. CEO Jeff Miller said. Speaking to analysts during the first quarter conference call, Miller was asked…