International

Flex LNG Chief Sees Tight Freight Markets, Volatility Ahead for Global Natural Gas Trade

Flex LNG Chief Sees Tight Freight Markets, Volatility Ahead for Global Natural Gas Trade

The last year has been a chaotic one for the liquefied natural gas (LNG) trade, and it could be a preview of what’s to come in the years ahead as the super-chilled fuel is further commoditized, according to Flex LNG Ltd. CEO Oystein Kalleklev.  Flex owns a fleet of 13 LNG carriers. Like others in…

December 17, 2021
Panama Canal Congestion Easing as Europe Drawing More LNG Cargoes

Panama Canal Congestion Easing as Europe Drawing More LNG Cargoes

Shipping congestion that has slowed passage through the Panama Canal since last year amid strong demand for liquefied natural gas (LNG) and other goods between Asia and the United States has finally eased, after wait times peaked at 16 days for vessels with unreserved slots.  The historic cold that left Asian inventories depleted last winter…

December 16, 2021
Mexico Natural Gas Market Year in Review: From Winter Storm to Pricing Surge

Mexico Natural Gas Market Year in Review: From Winter Storm to Pricing Surge

NGI’s Mexico GPI has narrowed down an eventful year to the five key stories that defined Mexico’s natural gas market in 2021. These stories are:

December 14, 2021
Surging Coronavirus Cases Expected to Slow Global Oil Demand

Surging Coronavirus Cases Expected to Slow Global Oil Demand

Rising coronavirus cases driven by the new Omicron variant are expected to curb but not derail a global recovery in oil demand, the International Energy Agency (IEA) said Tuesday in its latest Oil Market Report for December.   IEA noted that cases are climbing across many regions of the world in the wake of Omicron outbreaks…

December 14, 2021
Egypt Aims to Meet Growing Global LNG Demand as Output Ramps Up

Egypt Aims to Meet Growing Global LNG Demand as Output Ramps Up

Egypt is moving forward with its plans to become a regional natural gas hub as its two liquefied natural gas (LNG) plants are running at full capacity for the first time in more than a decade.   Egypt’s Petroleum Minister Tarek El Molla told news media at the East Mediterranean Gas Forum last month that the…

December 14, 2021
British Columbia Could Bypass Alberta As Canada’s Top Natural Gas Supplier By 2028

British Columbia Could Bypass Alberta As Canada’s Top Natural Gas Supplier By 2028

British Columbia (BC) is poised to overtake Alberta and become the top source of Canadian natural gas as of 2028, the Canada Energy Regulator (CER) said in its latest annual industry review. The liquids-rich Montney Shale deposit, which fuels all drilling in BC and extends east into Alberta, could account for three-quarters of Canadian gas…

December 14, 2021
Natural Gas Futures Tumble as Weather Data Backs off Upcoming Cold, Adds Warmth

Natural Gas Futures Tumble as Weather Data Backs off Upcoming Cold, Adds Warmth

A chillier weekend forecast lifted natural gas futures back above $4.000/MMBtu early in Monday’s session. The gains, however, were not to last as subsequent weather data backed off the cold and sent the January Nymex gas futures contract tumbling 13.1 cents to $3.794. February slid 12.8 cents to $3.761. Spot gas prices were higher to…

December 13, 2021
Global E&P Capex in 2022 Led by U.S. E&Ps, with Privates Playing ‘Outsized Role’

Global E&P Capex in 2022 Led by U.S. E&Ps, with Privates Playing ‘Outsized Role’

The U.S. exploration and production (E&P) sector is increasing its capital spending in 2022 for the first time in four years, while Canada is set to remain near multi-decades lows, according to Evercore ISI. Global E&P capital expenditures (capex) are poised to climb by 16% year/year (y/y) in 2022, extending 5.5% growth in 2021 “for…

December 13, 2021
Global Natural Gas Prices Soar as Supply Fears Amplify — LNG Recap

Global Natural Gas Prices Soar as Supply Fears Amplify — LNG Recap

Natural gas prices in Europe and Asia soared Monday as supply concerns deepened and the regions are seen competing for liquefied natural gas (LNG) cargoes beyond the winter. British and Dutch front-month futures gained nearly $3 each to finish above $38/MMBtu, hitting levels not seen in months. Asian spot prices, meanwhile, gained almost $2 to…

December 13, 2021
Excelerate Starts LNG Operations in Bahia as Brazil Imports Boom

Excelerate Starts LNG Operations in Bahia as Brazil Imports Boom

Floating specialist Excelerate Energy has started delivering natural gas to the Brazilian market at the Bahia regasification terminal in Salvador, Bahia. Excelerate’s floating, storage and regasification unit (FSRU) Excelerate Sequoia has an LNG storage capacity of 173,400 cubic meters. Excelerate and Brazilian state oil company Petróleo Brasileiro (Petrobras) signed the lease contract at the end…

December 13, 2021