LNG Insight

Natural Gas Forwards Free Fall on Prolonged Freeport LNG Outage

Natural Gas Forwards Free Fall on Prolonged Freeport LNG Outage

As demand destruction from the Freeport liquefied natural gas (LNG) terminal outage continued to loosen balances, strong summer heat failed to prevent natural gas forwards from falling during the June 23-29 trading period. Fixed prices for August delivery at benchmark Henry Hub tumbled 37.4 cents during the period to average $6.499/MMBtu, NGI’s Forward Look data…

July 1, 2022
Russia Moves for Control of Sakhalin-2 LNG, Jeopardizing Foreign Ownership Stakes

Russia Moves for Control of Sakhalin-2 LNG, Jeopardizing Foreign Ownership Stakes

Russia is moving to further tighten its grip on the nation’s oil and natural gas supplies, issuing a decree for the country to take over the Sakhalin-2 liquefied natural gas (LNG) export project on Sakhalin Island north of Japan.  An executive order signed by Russian President Vladimir Putin to “protect the national interests” calls for…

July 1, 2022
Long-planned Alaska LNG Project Wouldn’t Increase Greenhouse Gas Emissions, DOE Says

Long-planned Alaska LNG Project Wouldn’t Increase Greenhouse Gas Emissions, DOE Says

The Alaska liquefied natural gas (LNG) terminal project would not have an impact on greenhouse gas (GHG) emissions if constructed, according to the latest analysis from the Department of Energy (DOE). DOE in late June published its draft supplemental environmental impact statement (EIS) for the Alaska LNG project (DOE/EIS-0512-S1). Researchers found that with mitigations already…

July 1, 2022
LNG Market Volatility Continues as European Supply Risk Grows

LNG Market Volatility Continues as European Supply Risk Grows

MADRID (ICIS) – Spot LNG prices in Asia rose on 30 June but remained at a discount to the European TTF, following the highest TTF front-month price since 9 March.

July 1, 2022
Kogas, TotalEnergies to Consider LNG Opportunities

Kogas, TotalEnergies to Consider LNG Opportunities

Korea Gas Corp., aka Kogas, is partnering with TotalEnergies under a tentative agreement to develop more liquefied natural gas (LNG) marketing and development opportunities. Under a memorandum of understanding (MOU), South Korea’s state-run Kogas and the French supermajor could cooperate on improving LNG and low-carbon energy trading to increase price stability for the country. Kogas…

July 1, 2022
PHMSA Examines ‘Overpressure Situation’ at Freeport LNG, Possibly Delaying Restart

PHMSA Examines ‘Overpressure Situation’ at Freeport LNG, Possibly Delaying Restart

High pressures in a stretch of piping likely caused an explosion that knocked the Freeport liquefied natural gas (LNG) export terminal offline, according to federal regulators, who have proposed requirements that could ultimately delay a return to service. The Pipeline and Hazardous Materials Safety Administration (PHMSA) said the cause of the June 8 incident is…

June 30, 2022
Upstream Oil, Natural Gas Investments Rising, but Renewables Said Driving Growth

Upstream Oil, Natural Gas Investments Rising, but Renewables Said Driving Growth

While investments in the global energy industry are expected to jump 8% from 2021 to 2022, investments in fossil fuels have not returned to pre-pandemic levels, according to the International Energy Agency (IEA). Investments in upstream oil and natural gas activities are projected to rise 10% year/year in 2022, but are likely to fall short…

June 30, 2022
Permian Highway Green Lights Natural Gas Expansion, with Eye on LNG Markets

Permian Highway Green Lights Natural Gas Expansion, with Eye on LNG Markets

Permian Highway Pipeline LLC (PHP) sanctioned a 550 MMcf/d natural gas expansion project to boost capacity for the 2.1 Bcf/d West Texas to Gulf Coast system. Using additional compression, the final investment decision (FID) would boost deliveries from the Waha area of West Texas to mainline connections near Houston and Gulf Coast markets. Pending required…

June 30, 2022
Prelude FLNG Cancels Cargo Deliveries Amid Union Strike

Prelude FLNG Cancels Cargo Deliveries Amid Union Strike

The Prelude floating liquefied natural gas (LNG) export facility offshore Western Australia has canceled cargo deliveries through mid-July as labor unions representing workers on the vessel initiate work stoppages. Shell plc told multiple news outlets this week that it has notified customers of the cancellations, citing the impacts of a strike that started on June…

June 29, 2022
European Benchmarks Hit Fresh Highs on ICE Amid Push to Secure More Natural Gas

European Benchmarks Hit Fresh Highs on ICE Amid Push to Secure More Natural Gas

German and Italian natural gas futures listed on the Intercontinental Exchange (ICE) hit fresh highs in May amid a scramble in Europe to secure supplies in the months since Russia invaded Ukraine.  European benchmark Title Transfer Facility futures saw 2.8 million lots traded last month, up 5% from April. ICE added that German Trading Hub…

June 29, 2022
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