International

Pressure Persists on Natural Gas Prices, with December Futures Down a Third Straight Day

Pressure Persists on Natural Gas Prices, with December Futures Down a Third Straight Day

Natural gas futures fell again Monday as forecasts for more mild fall weather and light demand eclipsed robust liquefied natural gas (LNG) levels. The December Nymex contract settled at $5.186/MMBtu, down 24.0 cents day/day. January fell 22.4 cents to $5.305. Trading Monday extended a steep downward trend. Futures shed more than 75 cents over the…

November 1, 2021
Global Oil, Natural Gas Demand Strong into ‘Foreseeable Future,’ Says Aramco CEO

Global Oil, Natural Gas Demand Strong into ‘Foreseeable Future,’ Says Aramco CEO

The Saudi Arabian Oil Co., better known as Aramco, recorded a substantial increase in profits during the third quarter on rebounding global energy demand, which is likely to “remain healthy for the foreseeable future,” CEO Amin H. Nasser said. Higher oil volumes sales and prices, combined with stronger refining and chemicals margins, were underpinned by…

November 1, 2021
European Natural Gas Prices Jump as Flows Reverse on Key Russian Pipeline — LNG Recap

European Natural Gas Prices Jump as Flows Reverse on Key Russian Pipeline — LNG Recap

European natural gas prices jumped on Monday after flows reversed on a key pipeline that moves Russian supplies to the continent.  Monday’s price action was the latest to demonstrate how mixed signals from Russia have the European market seesawing. The Dutch Title Transfer Facility and National Balancing Point benchmarks dropped sharply last week, falling from…

November 1, 2021
Asia Said Likely to Strand Assets as Natural Gas Buildout Continues

Asia Said Likely to Strand Assets as Natural Gas Buildout Continues

Plans to expand natural gas infrastructure across Asia could prove harmful to the region as the world transitions from fossil fuels, according to a new report by environmental advocate Global Energy Monitor (GEM).  GEM said the $379 billion of planned gas-fired power plants, natural gas pipelines and liquefied natural gas (LNG) terminals across Asia could…

October 28, 2021
Raymond James Raises Natural Gas Price Forecast as LNG, Mexico Demand Outlook Remains Bullish

Raymond James Raises Natural Gas Price Forecast as LNG, Mexico Demand Outlook Remains Bullish

With limited global supplies and robust demand entering the peak winter season, Raymond James analysts this week boosted their already bullish natural gas price forecasts for this year and 2022. Analysts J.R. Weston and John Freeman said they raised their full-year 2021 Henry Hub average price forecast 6% to $3.70/MMBtu and their expectation for next…

October 27, 2021
Energy Trader Gunvor Locks in LNG Vessels to Advance Climate Goals

Energy Trader Gunvor Locks in LNG Vessels to Advance Climate Goals

Gunvor Group Ltd. has agreed to employ four newbuild liquefied natural gas (LNG) carriers as the trading house looks to cut emissions tied to its operations.  Subsidiary Clearlake Shipping is securing long-term time charters with Monaco-based shipowner Celsius Tankers. Celsius expects to take delivery of the new vessels from Samsung Heavy Industries Co. Ltd. (SHI)…

October 27, 2021
QatarEnergy Dips Toe in Canadian Offshore Through ExxonMobil Deal

QatarEnergy Dips Toe in Canadian Offshore Through ExxonMobil Deal

Qatar’s state-owned oil and natural gas company has announced entry into the Canadian energy patch by picking up a 40% share in a suspended ExxonMobil Canada Ltd. drilling project 270 miles offshore of the Newfoundland capital, St. John’s. QatarEnergy, formerly Qatar Petroleum, described the deal as gaining a foothold in an established producing region by…

October 26, 2021
EIG Strikes Nearly $1.6B Deal for Stake in Australian LNG Project

EIG Strikes Nearly $1.6B Deal for Stake in Australian LNG Project

EIG Global Energy Partners, a private equity firm that specializes in investments in energy infrastructure, agreed on Monday to pay Origin Energy Ltd $1.59 billion for a minority stake in Australia Pacific LNG Pty Limited, a joint venture with ConocoPhillips and Sinopec.   The liquefied natural gas (LNG) project is the largest by liquefaction capacity on…

October 26, 2021
LNG 101: Russia’s Role in a Flailing European Natural Gas Market

LNG 101: Russia’s Role in a Flailing European Natural Gas Market

Russia has factored heavily into the global dialogue surrounding this year’s energy shortages, particularly as it relates to the country’s role as the leading supplier of natural gas to Europe. Weather patterns, supply chain issues, production outages and the pandemic, among other things, have collided to create shortages of everything from coal and natural gas…

October 26, 2021
Natural Gas Futures Flirt with $6 Again as Early November Seen Much Cooler; Cash Strong

Natural Gas Futures Flirt with $6 Again as Early November Seen Much Cooler; Cash Strong

Natural gas futures aimed for the sky on Monday as a much colder turn in the weekend weather models catapulted prices. Aided by a sharp increase in liquefied natural gas (LNG) demand, as well as upcoming contract expirations, the November Nymex gas futures contract jumped 61.8 cents to $5.898. December shot up 59.5 cents to…

October 25, 2021