Asia is attracting more LNG cargoes as spot prices remain low and Europe enters the injection season with a plump storage cushion. While Europe’s liquefied natural gas imports dropped 20% to 9.05 million tons (Mt) last month, Asia’s jumped 12% to 24.3 Mt, according to Kpler data. China, Japan and South Korea led the region’s…
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Natural Gas Forwards Continue to Struggle as Market Wrestles with Storage Glut
As an outsized storage surplus continued to hang over the outlook, regional natural gas forward prices shed value during the March 21-27 trading period, NGI’s Forward Look data show. Front month fixed prices at benchmark Henry Hub fell 12.7 cents for the period to end at $1.577/MMBtu. However, the benchmark also saw double-digit losses for…
Japan’s Low LNG Inventories Could Spur Spot Buying – Three Things to Know About the LNG Market
NO. 1: Japan’s LNG inventories have hit the lowest level in years. Stocks fell 5% week-over-week on March 24 to 1.52 million tons (Mt), according to the Ministry of Economy, Trade and Industry. Stockpiles are below the five-year average of 2.14 Mt. Jera Co. Inc. was reportedly implementing planned outages at four gas-fired power plants…
Attack on Ukrainian Storage Site Pushes European Natural Gas Prices Higher
Ukrainian natural gas storage operator Ukrtransgaz JSC said a Russian attack on its infrastructure caused no major damage, but withdrawal capacities at the facility would be limited until repairs are completed. Natural gas withdrawals were halted after the strike on Sunday (March 24). However, the company was able to compensate for the limited withdrawals with…
Vitol Sees LNG Trading Growth as Market ‘Realignment’ Boosts Energy Security Needs
Vitol Inc. reported its natural gas and LNG business segments continued to expand in 2023 despite relatively lower global prices last year. Since Russia’s 2022 invasion of Ukraine, trading houses and energy majors have seen record volumes and profits from natural gas, particularly liquefied natural gas, as Europe moved to replace lost Russian volumes. More…
Tellurian Courting Natural Gas Producers Seeking LNG Exposure Through Driftwood
Tellurian Inc. is looking to join the wave of Gulf Coast LNG developers partnering with exploration and production (E&P) companies on tolling agreements to raise international exposure, executive chairman Martin Houston said Tuesday. In a letter to shareholders, the Houston-based company’s co-founder said Tellurian’s marketing team had spent last week meeting with potential customers and…
Whistler, Rio Bravo Pipeline Owners Teaming Up to Advance Permian-to-Gulf Coast LNG Corridor
The owners of the Whistler Pipeline system and the developers of the planned Rio Bravo Pipeline project are joining forces to connect Permian Basin natural gas supply with Gulf Coast LNG export markets. WhiteWater Midstream, I Squared Capital, MPLX LP and Enbridge Inc. have agreed to combine Whistler and Rio Bravo in a new joint…
EQT Eyeing Data Center ‘Gold Rush’ for Natural Gas-Fired Power, Unleashing More LNG
EQT Corp., the No. 1 natural gas producer in the United States, isn’t resting on its laurels. The gas giant is continuing to eye a potential East Coast LNG project, but it’s venturing into the artificial intelligence (AI) market, to gain a slice of the data center power market. Executive Vice President Rob Wingo, who…
Global Security Threats Push Natural Gas Prices Higher Despite Lax LNG Demand – LNG Recap
While LNG demand still remains mostly lax across Europe and Asia, the specter of supply volatility helped stoke global prices Monday as traders reacted to a bevy of attacks in Russia and Ukraine. The Dutch Title Transfer Facility (TTF) continued its upward march from last week, closing above $9/MMBtu. Asian liquefied natural gas prices followed…
Glenfarne Honing in on Final Supply Agreements While Targeting Texas LNG Construction Later This Year
Propelled by its latest tentative offtake agreements, Glenfarne Energy Transition LLC is looking to close deals on the remaining volumes of its 4 million metric ton/year (mmty) Texas LNG project by the end of July. With the heads of agreement (HOA) with Gunvor Group Ltd. disclosed earlier in the month, Glenfarne has 3 mmty in…