International

U.S. LNG Export Prices Jumped 41% in First Half of 2021, DOE Says

U.S. LNG Export Prices Jumped 41% in First Half of 2021, DOE Says

Increased prices persisted as a fixture for international natural gas sales through the first half of this year, according to the latest trade scorecard by the U.S. Department of Energy (DOE). U.S. exports to Mexico led the gains with a 230% jump in prices to average $6.11/MMBtu for the first half of 2021 (1H2021), up…

November 10, 2021
Pressure Intensifies on Natural Gas Prices, with December Futures Slumping Third Straight Day

Pressure Intensifies on Natural Gas Prices, with December Futures Slumping Third Straight Day

Natural gas futures plummeted on Tuesday as domestic production held strong and storage levels were projected to prove ample for winter, while forecasts pointed to soft weather-driven demand in both the United States and Europe. At A Glance: Production hovers near 95 Bcf Markets expect modest storage increase Demand steady for U.S. exports The December…

November 9, 2021
Everything’s Bigger in Texas, as Sempra Budgets $15B for Oncor Growth

Everything’s Bigger in Texas, as Sempra Budgets $15B for Oncor Growth

Sempra is budgeting a record high $15 billion five-year capital plan for its Texas electric utility as it works to meet projected load growth in “one of the fastest growing markets in the country,” CEO Jeff Martin said late last week. The San Diego-based company’s Oncor Electric Delivery Co. LLC subsidiary had boosted capital expenditures…

November 9, 2021
Xebec Eyes 500% RNG, Hydrogen Tech Output Jump with UEC Acquisition

Xebec Eyes 500% RNG, Hydrogen Tech Output Jump with UEC Acquisition

Canada-based Xebec Adsorption, Inc. aims to expand production capacity 500% in North America for its renewable natural gas (RNG) and hydrogen technologies. By closing on its acquisition of Colorado-based UEC Compression, Xebec said last week it has established a “cost-effective and timely pathway” toward reaching the five-fold increase in output.   UEC, based in the Denver…

November 9, 2021
Keyera Riding Tailwinds on Rising Demand, Pricing for NGLs

Keyera Riding Tailwinds on Rising Demand, Pricing for NGLs

Strong demand and rising prices for natural gas liquids (NGL) led to a surge in profits and capacity growth in British Columbia (BC) during the third quarter, Calgary-based Keyera Corp. said. “With more tailwinds than we’ve seen in quite some time, we’re feeling encouraged and optimistic about the future,” said President Dean Segoguchi of the…

November 9, 2021
December Natural Gas Futures Flounder Amid Demand Uncertainty, Rising Output

December Natural Gas Futures Flounder Amid Demand Uncertainty, Rising Output

Natural gas futures teetered between gains and losses much of Monday as traders contrasted rising production and mild fall weather forecasts against strong demand for U.S. exports of liquefied natural gas (LNG). The December Nymex contract, however, ultimately settled at $5.427/MMBtu, down 8.9 cents day/day amid domestic demand weakness. January fell 12.1 cents to $5.505.…

November 8, 2021
New Fortress Energy Sees Significant Gap in Global LNG Supply

New Fortress Energy Sees Significant Gap in Global LNG Supply

Management for New Fortress Energy Inc. expects liquefied natural gas (LNG) demand to “materially” exceed supply through 2039, saying in the third quarter 2021 earnings report that underinvestment in fossil fuels has left the global market vulnerable. Investment in oil and gas projects, according to NFE, has dropped sharply in recent years, going from $800…

November 8, 2021
China Cuts Another Long-Term Deal for U.S. LNG Supply from Cheniere

China Cuts Another Long-Term Deal for U.S. LNG Supply from Cheniere

Cheniere Energy Inc. said Friday it has reached a deal with China’s Sinochem Group Co. Ltd. to supply 0.9 million metric tons/year (mmty) of liquefied natural gas (LNG) beginning in July 2022.  The state-owned chemical conglomerate would buy LNG under the sales and purchase agreement (SPA) for a term of 17.5 years. Its purchases would…

November 5, 2021
Cheniere Reports Record LNG Exports, but Steep Loss on Volatile Natural Gas Prices

Cheniere Reports Record LNG Exports, but Steep Loss on Volatile Natural Gas Prices

Cheniere Energy Inc. loaded a record 141 liquefied natural gas (LNG) cargoes in the third quarter as prices skyrocketed and global demand increased ahead of the winter. Management expects more of the same in the coming months.  “In the short term, we have witnessed significant volatility and record prices for LNG and natural gas across…

November 4, 2021
Venture Global Signs Largest U.S. LNG Supply Deal on Record with Sinopec

Venture Global Signs Largest U.S. LNG Supply Deal on Record with Sinopec

Venture Global LNG Inc. has reached a deal to sell nearly 8 million metric tons/year (mmty) of liquefied natural gas (LNG) to China Petroleum & Chemical Corp., aka Sinopec, in deals representing the largest supply agreement ever signed by a U.S. gas exporter.  The 20-year deals, publicly announced on Thursday, also represent the largest supply…

November 4, 2021