Daily GPI

Natural gas production held near all-time highs through the first quarter in Canada, even as prices slumped following a mild winter that left supplies in storage at robust levels. That’s because producers are looking beyond near-term weakness and toward an anticipated jump in export demand, according to analysts. LNG Canada is slated to begin operations…

U.S. natural gas trade groups this week unveiled a study to demonstrate that American LNG is mostly better for the environment than competing fossil fuels in overseas markets as they continue to push back against the Biden administration’s pause on export project authorizations. “American natural gas is not only critical to our economy, but it…

Flows of natural gas to Freeport LNG have remained at a trickle for a week, fueling market concern that possibly all three trains at the facility could be offline after a reported issue with Train 3 last week. Nominations for natural gas to the liquefied natural gas facility had been reduced to about one-fourth of…

Activist investor Kimmeridge Energy Management Co. LLC has withdrawn its proposal to merge its natural gas-focused subsidiary with Eagle Ford Shale producer SilverBow Resources Inc.  The New York-based investment firm, which holds a 12.9% stake in SilverBow, in March proposed a tie-up between Kimmeridge Texas Gas LLC (KTG) and the Eagle Ford producer along with…

Natural gas futures declined in early trading Wednesday, giving back the gains recorded after an incident on the Nova Gas Transmission Ltd. (NGTL) in Alberta rattled markets and briefly sent prices soaring. The May Nymex contract was down 5.5 cents to $1.677/MMBtu at around 8:40 a.m. ET. Operator TC Energy Corp. on Tuesday said it…

Natural gas futures jumped higher Tuesday afternoon after reports of a pipeline incident in Alberta broke up an otherwise quiet shoulder season day of trading. At A Glance: Production at 97.4 Bcf/d Weak spring season demand National Avg. back above $1 The May Nymex contract rose 4.1 cents day/day to settle at $1.732/MMBtu. Futures spiked…

Pieridae Energy Ltd. could be looking to sell its abandoned Goldboro LNG project in Nova Scotia to an Irish energy firm, according to a recently published regulatory filing. Calgary-based Pieridae asked Nova Scotia’s utility and review board for permission to transfer its approvals for the potentially 1.3 Bcf/d export project to Simply Blue Group, a…

Equinor ASA is phasing out gas-fired generation in one of its most prolific natural gas production hubs in favor of electricity as it looks to increase both the sustainability and the lifespan of its North Sea operations. Norway’s Equinor disclosed that its offshore facilities at the Sleipner field and the adjacent Gudrun platform had been…

Prompt-month natural gas futures on the New York Mercantile Exchange (Nymex) neared $2.00/MMBtu last week but failed to push beyond a $1.943 Wednesday intraday high. With technical and fundamental support lacking, the front month headed lower on Monday, slipping 7.9 cents to settle at $1.691, and was trading marginally flat Tuesday morning. “The May Nymex…