International

Nymex Natural Gas Futures Crumble on Warming April Forecast; Cash Weakens Further

Nymex Natural Gas Futures Crumble on Warming April Forecast; Cash Weakens Further

Natural gas futures took a dramatic fall after the Easter holiday weekend as weather forecasts shifted much warmer for the next couple of weeks. With April on pace to be warmer than normal, the May Nymex gas futures contract plunged 12.8 cents Monday to settle at $2.511/MMBtu. June fell 11.5 cents to $2.582. Spot gas…

April 5, 2021
Santos Sanctions $3.5B Australian Project to Extend Darwin LNG Exports

Santos Sanctions $3.5B Australian Project to Extend Darwin LNG Exports

Santos Ltd. has sanctioned a $3.6 billion development in the Timor Sea to extend the life of the Darwin gas export facility in Australia. Australia-based Santos said Tuesday the final investment decision (FID) would also kick off a separate $600 million investment to extend the life of the 3.7 million metric tons/year Darwin liquefied natural…

March 30, 2021
Canada Natural Gas Exports in U.S. Fall Sharply in 2020 on Lower Prices, Demand

Canada Natural Gas Exports in U.S. Fall Sharply in 2020 on Lower Prices, Demand

Canadian natural gas export volumes and revenues both shrank last year, according to trade records compiled by the Canada Energy Regulator (CER). Pipeline deliveries to the United States dropped by 8% to 6.8 Bcf/from 7.4 Bcf/d in 2019. Canadian gas export revenues plunged by 24% to C$6.9 billion ($5.5 billion) last year from C$9.1 billion…

March 30, 2021
Natural Gas Futures Forge Ahead as April Contract Rolls Off Board; Cash Prices Climb

Natural Gas Futures Forge Ahead as April Contract Rolls Off Board; Cash Prices Climb

Natural gas futures gained ground Monday. April closed out its run as the prompt month amid forecasts for light domestic demand but robust export volumes. The April Nymex contract settled at $2.586/MMBtu, up 2.9 cents day/day. May, which becomes the prompt month on Tuesday, advanced 3.4 cents to $2.653. NGI’s Spot Gas National Avg. gained…

March 29, 2021
Chevron Ends Funding for Kitimat LNG; Woodside Looks to Move Ahead

Chevron Ends Funding for Kitimat LNG; Woodside Looks to Move Ahead

The first British Columbia (BC) project in Kitimat to move liquefied natural gas (LNG) exports overseas is no longer on the funding list for Chevron Corp., which has been partnering in the proposal with Australia’s Woodside Energy Ltd. The Kitimat LNG project owner and would-be operator announced a halt to all of its spending on…

March 23, 2021
Hydraulic Fracturing Absolved of Methane Leaks in Review of 25,000 Northern BC Wells

Hydraulic Fracturing Absolved of Methane Leaks in Review of 25,000 Northern BC Wells

Hydraulic fracturing undertaken in British Columbia (BC) has been absolved of causing methane leaks that contribute to climate change and create safety hazards, according to peer-reviewed research. The University of British Columbia’s Energy and Environment Research Initiative reached its verdict in a review of 25,000 northern BC wells. “Overall, there appear to be no characteristics…

March 16, 2021
Canada’s Propane Exports Up 19% in 2020, with More Growth Said Likely

Canada’s Propane Exports Up 19% in 2020, with More Growth Said Likely

Propane exports from Canada to overseas markets jumped by 19% in 2020, with international sales poised to increase again this year, according to the Canada Energy Regulator (CER). A terminal location on the northern Pacific coast of British Columbia (BC) at Prince Rupert lived up to expectations of giving a competitive advantage to the Alberta-based…

March 16, 2021
Chevron Says Gorgon, Wheatstone LNG Facilities Producing Above Capacity, with More Opportunities in Eastern Med

Chevron Says Gorgon, Wheatstone LNG Facilities Producing Above Capacity, with More Opportunities in Eastern Med

Chevron Corp. disclosed this week that both of its liquefied natural gas (LNG) facilities in Australia are producing above their nameplate capacity. The San Ramon, CA-based supermajor has increased the initial capacity of the three-train Gorgon development by 5%, while the capacity at the two-train Wheatstone project has grown to 9% above nameplate. Upstream chief…

March 11, 2021
‘Unique’ Circumstances Bode Well for Improving U.S., Mexico Trade Relationship

‘Unique’ Circumstances Bode Well for Improving U.S., Mexico Trade Relationship

There has been considerable friction between Mexico’s government and U.S. investors in the energy sector recently, but conditions are in place for booming trade between the two nations according to a new analysis by Washington, DC, think tank Center for Strategic and International Studies (CSIS). “The next four years present a once-in-a-generation opportunity for the…

March 9, 2021
Shell Takes Delivery of Europe’s First Carbon-Neutral LNG Cargo

Shell Takes Delivery of Europe’s First Carbon-Neutral LNG Cargo

Russian state-owned Gazprom Group recently delivered to partner Royal Dutch Shell plc what the companies said is the first-ever carbon-neutral liquefied natural gas (LNG) cargo in Europe. Shell said Monday the cargo was unloaded at the Dragon LNG terminal in the UK, which would enable the supermajor to supply more carbon-neutral gas to the domestic…

March 9, 2021