Tellurian Inc. said a deal to sell LNG to an affiliate of Gunvor Group Ltd. from its proposed Driftwood export terminal has been terminated. “The parties were unable to reach agreement on the commercial terms of an amendment to the agreement,” Tellurian said in a U.S. regulatory filing.
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Production to Hold Steady as Henry Natural Gas Back Above $3 in 2024, EIA Says
Henry Hub natural gas spot prices will climb back above the $3/MMBtu threshold on average next year, though associated output from the Permian Basin will keep production elevated, according to updated projections from the U.S. Energy Information Administration (EIA). Domestic production is expected to remain at “relatively high levels” throughout 2023 even as natural gas…
New Fortress Eyeing October for Exporting First LNG Cargo from Mexico
New Fortress Energy Inc. (NFE) said Tuesday that part of the LNG export project offshore Mexico’s east coast is on track to load its first cargo in October. One of three jack-up rigs that would form the company’s first Fast liquefied natural gas (FLNG) project have been installed. The Pioneer 3 rig is in place…
Coterra Raises Natural Gas Production Forecast as Marcellus Exceeds Guidance
Lower 48 independent Coterra Energy Inc. exceeded production guidance during the second quarter across the board – for natural gas, oil and liquids – lifted by outperformance in well results and a 9% jump in Marcellus Shale natural gas volumes. “This beat was driven by many factors, including optimization of completions design spacing, landing zone…
Egypt Resumes LNG Exports, but Production Declines Threaten Overall Output
Egypt plans to resume LNG exports in the fall after curbing them to meet domestic power demand, according to Energy Minister Tarek el-Molla. However, the combination of continued high temperatures and Egypt’s declining feed gas supplies could impact future liquefied natural gas exports. According to Kpler analyst Laura Page, Egyptian LNG exports have posted year-over-year…
Enbridge Bullish on North American Natural Gas Storage, Long-Term Export Demand
Enbridge Inc. is bulking up its natural gas storage capabilities and betting big on long-term demand for North American exports of LNG, viewing the super-chilled fuel as a key source of energy for decades to come. “Natural gas and oil will remain critical components of our energy supply in all energy transition scenarios that balance…
European Natural Gas Prices Jump as LNG Supplies, Norwegian Volumes Limited – LNG Recap
European natural gas prices bounced back on Monday as competition for LNG with Asia remains strong and more Norwegian supply outages are expected this month amid another heavy round of maintenance offshore. The prompt Title Transfer Facility (TTF) contract finished 6% higher Monday to close near $10/MMBtu. TTF gained further out the curve as well,…
EOG Touts Dorado, Ohio Utica Natural Gas Projects as LNG Demand Poised for Takeoff
EOG Resources Inc. is advancing multiple upstream natural gas projects ahead of an expected surge in LNG export demand, management said Friday. CEO Ezra Yacob discussed an improving outlook for natural gas prices, which have plunged this year, during the Houston-based independent’s second quarter earnings call. EOG operates in all the major Lower 48 onshore…
More Natural Gas Production Needed to Meet Next Wave of LNG Growth, Southwestern CEO Says
Southwestern Energy Co. said a combination of activity cuts, moderating inflation and operational efficiencies would cut its full-year capital spending by $200 million as it continues to navigate a volatile commodity landscape. The company now expects capital investment to be $2.0-2.3 billion this year, with full-year production of 1.65-1.70 Tcfe, or about 1% below the…
Tourmaline Throwing Natural Gas Weight to Advance Ksi Lisims LNG Project on Canada’s West Coast
Canada’s largest natural gas producer Tourmaline Oil Corp. has agreed to join Rockies LNG Partners, a group of explorers working to advance a 1.6 Bcf/d export project on the west coast of British Columbia (BC). The Ksi Lisims floating liquefied natural gas facility as proposed would be sited in the territory of the Nisga’a Nation…