A possible fourth train for Freeport LNG is expected to remain in the development phase for now, but the facility could export an additional 1.5 million metric tons/year (mmty) to the spot market by this summer, CEO Michael Smith said Wednesday. One train at the Texas facility is currently offline and another could have intermittent…
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Natural Gas Prices, Infrastructure Investments Await Fed Action on High Interest Rates
Federal Reserve (Fed) policymakers left their benchmark interest rate unchanged and near the highest level of this century – where it has held since mid-2023 – amid lingering inflation worries. However, Fed officials on Wednesday hinted that costs are nearing a healthy level. That could open the door for rate reductions and lower borrowing costs…
Early Storage Injection Sends April Natural Gas Futures Lower
The U.S. Energy Information Administration (EIA) on Thursday reported a 7 Bcf injection into natural gas storage facilities for the week ended March 15, heaping additional pressure on natural gas futures. Ahead of the 10:30 a.m. ET storage print, April Nymex futures were trading down 2.1 cents day/day at $1.678/MMBtu. After the data was released,…
How Would a Gálvez Presidency Impact Mexico’s Natural Gas Sector? – Listen Now to NGI’s Hub & Flow
Click here to listen to the latest episode of NGI’s Hub and Flow, in which NGI’s Chris Lenton, senior editor of Mexico and Latin America, sits down with Rosanety Barrios, who heads the energy team for Mexican presidential candidate Xóchitl Gálvez. Barrios details how Mexico’s energy sector, including state companies Comisión Federal de Electricidad (CFE)…
Next Big Thing for U.S. Natural Gas Demand? Power-Hungry Data Centers, Say Williams Execs
The U.S. natural gas demand story has been geared to LNG growth, but there’s another story that could become even bigger: fueling a proliferation of computer data centers. The power-intensive artificial intelligence (AI) computer warehouses are to be fueled mostly by abundant and reliable domestic natural gas. It’s the next big thing, according to Williams…
Jones Cowboys Up Another $100M to Gain Two-Thirds Control of Haynesville Giant Comstock
Dallas Cowboys owner Jerry Jones, already majority shareholder in Haynesville Shale pure-play Comstock Resources Inc., has agreed to invest an additional $100.5 million into the company. Two Jones entities agreed to acquire 12.5 million shares of common stock in the private placement at $8.036/share. The price represents the average closing prices for the five trading…
Early Injection Expected from EIA as Natural Gas Futures Slide
With the latest government inventory data expected to further expand the storage surplus and potentially reveal an unseasonably early net injection, natural gas futures fell in early trading Thursday. The April Nymex contract was off 0.8 cents to $1.691/MMBtu as of 8:47 a.m. ET. May was down 1.4 cents to $1.831. Estimates for the U.S.…
April Natural Gas Price Rally Stifled by Weather Outlook, Possible Storage Build; Cash Prices Mixed
April Nymex natural gas futures’ advance was cut short after two days as weather outlooks that supported gains early in the week shifted warmer midweek. Pressure was added while the market braces for a possible small storage injection in the U.S. Energy Information Administration (EIA) storage data that would further widen the inventory overhang. At…
Natural Gas, Advanced Technology Essential for Successful Transition to Low Carbon, Say Execs
The call to cut the carbon from natural gas and oil, versus eliminating fossil fuels from the energy mix, is gaining supporters, as top energy executives in Houston this week pushed for stakeholders to acknowledge that global demand is growing, while a renewables-only future is unattainable in the near term. In the unofficial energy capital…
Freeport LNG Confirms More Maintenance, Possible Outages On Two Trains Until May
Two of Freeport LNG’s trains at its Texas export facility could be offline intermittently through at least May, the company confirmed Wednesday, after the end of months-long maintenance on Train 3 last week. Feed gas demand and liquefied natural gas production capacity at Freeport has been limited since January after the company disclosed freezing cold…