European and Asian natural gas prices continued soaring higher Wednesday with the market on edge about two key supply outages in Russia and the United States. Word on Tuesday that the liquefied natural gas (LNG) terminal on Quintana Island, TX, Freeport LNG, won’t enter full service until later this year after an explosion, as well…
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Nord Stream 1 to Cut Flows on Maintenance Delays Caused by Sanctions – The Offtake
Gazprom PJSC said Tuesday that it can only ship 100 million cubic meters/day (MMcm) on the Nord Stream 1 pipeline, or 40% less than the system’s capacity.
Southwestern Energy, Uniper Clinch Agreement for Certified Natural Gas Supply, LNG Exports
Southwestern Energy Co. said Tuesday it has a deal with the North American subsidiary of Uniper SE to supply independently certified natural gas for domestic and international distribution. The agreement pairs Southwestern, the second largest U.S. natural gas producer, with an affiliate of Uniper, one of Germany’s largest energy supply companies, at a time when…
Freeport LNG Out for Months, Stranding 2 Bcf/d and Rattling Global Markets
Representatives with the liquefied natural gas (LNG) facility in Texas that suffered an explosion last week, Freeport LNG, said early Tuesday that the company does not expect the export facility to be fully repaired for months. The company is now targeting late 2022 for a return to full service instead of the initial guidance of…
Ukraine Banning Energy Exports, Collaborating with U.S. on LNG Imports
In the midst of a 100-day-plus war, Ukraine is preparing for the next heating season with proposed plans to secure large volumes of liquified natural gas (LNG) from the United States. Ukraine’s President Volodymyr Zelensky said the government has begun solidifying plans for winter storage and boosting electricity production. Ukraine also plans to end all…
Global Natural Gas Prices Swing with Freeport LNG Offline – LNG Recap
Last week’s explosion that knocked the Freeport liquefied natural gas (LNG) export terminal offline continued to test the global gas market Monday, as prices in the United States were down and the supply disruption combined with others to push prices higher in Europe. Freeport LNG Development LP said it expects the terminal, which provides four…
TotalEnergies Awarded Stake in Qatar’s North Field East LNG Project
TotalEnergies SE has been awarded an equity stake in Qatar’s massive North Field East (NFE) liquefied natural gas (LNG) expansion project. The French major becomes the first partner in the 32 million metric tons/year (mmty) project. It was awarded a 25% interest alongside QatarEnergy (QE), which has a 75% stake. “This new partnership will enable…
Driven By Surging Natural Gas and Oil Costs, Inflation Hits Fresh 40-Year High
Fueled by bursts in energy costs, including natural gas, U.S. inflation spiked to an 8.6% annual rate in May, reaching the highest point in more than 40 years. The U.S. Department of Labor on Friday said its Consumer Price Index showed energy costs overall last month climbed 35% from May 2021. Energy commodities, a subcategory…
Chesapeake in Hunt for LNG Expertise as E&Ps Press Advantage in Export Boom
Chesapeake Energy Corp. is searching for a liquefied natural gas (LNG) adviser to join its workforce as more North American exploration and production (E&P) companies look to gain exposure to the export boom. In a job posting on LinkedIn late last month, Chesapeake said it was searching for a person to take the lead on…
Natural Gas Forwards Plunge Following Freeport LNG News; Outage’s Duration Comes into Focus
An explosion at the Freeport liquefied natural gas (LNG) export terminal left market participants contemplating weeks of potential demand destruction and caused a price shockwave that reverberated through the natural gas forwards market during the June 2-8 trading week. For the Lower 48 as a whole, fixed price moves were mixed in terms of the…