International

Natural Gas Futures Crumble; Bears Emboldened by European Price Drop, Mild Weather Outlook

Natural Gas Futures Crumble; Bears Emboldened by European Price Drop, Mild Weather Outlook

There was no getting off the world’s scariest roller coaster on Wednesday. After blasting to a $6.466/MMBtu intraday high, November natural gas prices plummeted all the way back down to $5.663. The prompt Nymex contract ultimately settled at $5.675, off 63.7 cents from Tuesday’s close. December plunged to $5.803. Spot gas prices also tumbled from…

October 6, 2021
‘Panic-Driven’ Market Sends Global Natural Gas Swinging Through Another Chaotic Day

‘Panic-Driven’ Market Sends Global Natural Gas Swinging Through Another Chaotic Day

Wednesday marked another chaotic swing for global energy markets as prices in Europe slid from astronomical highs to finish lower on the day and liquefied natural gas (LNG) spot prices in Asia were assessed at a record of nearly $60/MMBtu.  In Europe this week, wrangling has continued over how to best regulate the start-up of…

October 6, 2021
Oil, Gas to Continue Growing to Meet Rising Global Energy Demand Through 2050, Says EIA

Oil, Gas to Continue Growing to Meet Rising Global Energy Demand Through 2050, Says EIA

Under current policies, oil and natural gas production will continue growing through 2050 amid rising global energy consumption driven by developing Asian economies, according to the latest long-term projections from the U.S. Energy Information Administration (EIA). In its International Energy Outlook 2021(IEO2021) report published Wednesday, the agency predicted a nearly 50% increase in global energy…

October 6, 2021
Natural Gas Futures Surge to $6.39 in Latest ‘Extremely Dangerous/Volatile’ Price Swing

Natural Gas Futures Surge to $6.39 in Latest ‘Extremely Dangerous/Volatile’ Price Swing

Natural gas futures broke through $6.000/MMBtu for the second time this week as U.S. production took a notable step down on Tuesday at the same time global supply concerns roiled the domestic market. The November Nymex gas futures contract surged 54.6 cents to settle at $6.312. December gas finished at $6.432, up 52.6 cents on…

October 5, 2021
OPEC, Allies Face Balancing Act Between Measured Crude Output, Driving Prices Too High

OPEC, Allies Face Balancing Act Between Measured Crude Output, Driving Prices Too High

Energy shortages and price spikes suggest the world needs more oil to meet global needs in the near term. Just how much more – and how quickly – remains a moving target. With Lower 48 producers hesitant to boost output in the pandemic’s wake, the Organization of the Petroleum Exporting Countries (OPEC) and its allies,…

October 5, 2021
Nord Stream 2 Begins Accepting Natural Gas on First String as Commissioning Ramps Up

Nord Stream 2 Begins Accepting Natural Gas on First String as Commissioning Ramps Up

Natural gas is flowing on the Nord Stream 2 (NS2) pipeline that runs from Russia to Germany, with volumes expected to ramp up as the system is commissioned.  Gazprom PJSC affiliate Nord Stream 2 AG this week said gas filling has started on the first string of the 5.3 Bcf/d, two-leg system that stretches 764…

October 5, 2021
Enbridge Escalates Fight with Michigan to Save Line 5 Oil Conduit

Enbridge Escalates Fight with Michigan to Save Line 5 Oil Conduit

The environmental fight over Enbridge Inc.’s dual-pipe oil Line 5 across Michigan escalated Monday into the first-ever use of a 44-year-old energy traffic treaty between Canada and the United States. Canadian Foreign Affairs Minister Marc Garneau announced that a formal request has been made to save the 540,000 b/d conduit with a dispute resolution and…

October 5, 2021
Global Natural Gas Market Braces for Energy Shortages, Sending Prices Higher — LNG Recap

Global Natural Gas Market Braces for Energy Shortages, Sending Prices Higher — LNG Recap

Natural gas prices across the world jumped again Monday as fundamentals remain unchanged and the global market braces for energy shortages this winter.  In Europe, prices bounced back from a technical correction on Friday, a day after Dutch and British futures settled well above $33/MMBtu and set new records. The Title Transfer Facility (TTF) finished…

October 4, 2021
Decarbonization Costs Squeeze LNG Suppliers

Decarbonization Costs Squeeze LNG Suppliers

Suppliers of liquefied natural gas (LNG) are under increasing pressure to lower the carbon footprints of their cargoes. But the question of who pays for the costs of decarbonization is a tricky one, Poten & Partners analysts said Wednesday. With more LNG supply expected to come online by the middle of the decade, sellers are…

September 30, 2021
Enbridge’s Line 3 Replacement Set to Flow Oil Oct. 1

Enbridge’s Line 3 Replacement Set to Flow Oil Oct. 1

The Alberta government and Canadian oil exporters celebrated Wednesday after Enbridge Inc. confirmed that its Line 3 pipe replacement project had been completed and would start deliveries Friday (Oct. 1). “It’s fantastic news for our province’s economic recovery,” said Premier Jason Kenney. “Our government will continue to fight for all projects that help bring our…

September 30, 2021