FERC staff concluded the Commonwealth LNG terminal project in Louisiana could have minimal environmental consequences if built, but it could contribute to “disproportionately high and adverse” impacts on marginal communities already affected by industry. The conclusion from Federal Energy Regulatory Commission staff was published in a final environmental impact statement (EIS) for the project proposed…
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Europe and Asia LNG Prices Jumped After EU Address on Energy
LONDON (ICIS) –The ICIS TTF October ’22 contract rose to $66.03/MMBtu on 14 September, up almost 11% day on day.
Lingering Storage Deficits, Cooling Demand Push Natural Gas Forwards Prices Higher
Regional natural gas forwards prices rallied sharply during the Sept. 8-14 trading period, coinciding with a surge in the futures market amid apparent market speculation over impacts to power burns from a potential railroad strike, NGI’s Forward Look data show. Also bolstered by lingering storage deficits and a bout of late-season cooling demand expected for…
Maritime Administration Pauses Review of New Fortress Energy’s Fast LNG Project
An environmental review of New Fortress Energy Inc.’s (NFE) LNG project proposed offshore of Louisiana could be delayed after the Maritime Administration (MARAD) paused the process while seeking more information from the firm, recently published documents show. In documents published for the first time publicly on Sept. 8, MARAD confirmed it had paused the review…
European Commission Exploring LNG Index as Alternative to TTF
Proposals by the European Commission (EC) to tame soaring energy costs don’t alter the role natural gas plays on the continent and may do little to rein in the volatility that has ruled the market this year. The EC proposed revenue caps on some power producers, a windfall tax on the excess profits of fossil…
Traders, Utilities Stashing More LNG at Sea, Further Tightening Shipping Market as Winter Nears
The prospect of large winter price premiums and the challenge of infrastructure bottlenecks are driving traders and utilities to stash LNG volumes at sea, ballooning the levels of floating gas in storage to a two-year high and sustaining lofty charter rates. Daily floating storage levels reached 1.5 million tons (Mt) of liquefied natural gas stored…
Repsol Eyeing 300 MMcf/d in LNG Exports from New Brunswick in Updated Application
An opening regulatory move has been made toward building a Canadian LNG export terminal on the east coast by the New Brunswick arm of Spain’s Repsol SA, but natural gas deliveries are years away. The plan by Saint John LNG Development Co. (SJLNG) aims for initial exports of 300 MMcf/d, or only 40% of the…
European Commission Wants to Slash Power Consumption, Cap Revenues to Tame Energy Prices
European Commission President Ursula von der Leyen on Wednesday pledged “deep and comprehensive reform” of the European Union (EU) electricity market and promised to continue exploring ways to bring down natural gas prices. The EU is being “tested” not only with Russia’s war on Ukraine, but “a war on our energy. It is a war…
China Assumes Role of Swing Player With Surplus Natural Gas Inventories
China, the world’s largest buyer of LNG, is reselling the super-chilled fuel to Europe and Asia as an economic slowdown and a boost in Russian gas supplies have created surplus inventories. In 2021, Chinese gas demand grew at the fastest rate on record, when year/year imports increased by 19.9%, according to the Middle East Institute…
Natural Gas Price Caps For Now Off Table in Europe – LNG Recap
European natural gas prices rebounded Tuesday after signs emerged of how policymakers on the continent plan to intervene in the energy crisis. The European Commission is expected to unveil draft measures to mitigate skyrocketing energy costs Wednesday. Leaked documents that could ultimately change showed that a price cap on both Russian natural gas and other…