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With LNG Momentum and More Cold Coming, February Natural Gas Futures Forge Ahead

With LNG Momentum and More Cold Coming, February Natural Gas Futures Forge Ahead

Natural gas futures crept higher Tuesday, as traders assessed colder near-term weather patterns, export strength and expectations for increased storage draws against the potential for warmer weather next month. The February Nymex gas futures contract settled at $4.283/MMBtu, up 2.1 cents day/day. March, however, dipped 3.3 cents to $4.048. NGI’s Spot Gas National Avg. dropped…

January 18, 2022
Texas LNG Secures Feed Gas Agreement to Expand Valley Crossing Pipeline

Texas LNG Secures Feed Gas Agreement to Expand Valley Crossing Pipeline

The 4 million metric tons/year Texas liquefied natural gas (LNG) project under development in South Texas announced a deal with Enbridge Inc. on Tuesday to expand the Valley Crossing Pipeline to feed the proposed export terminal.  Texas LNG, a subsidiary of energy infrastructure development firm Glenfarne Group LLC, said it signed a precedent agreement to…

January 18, 2022
Freeport LNG Reports Outage Impacting Feed Gas Demand

Freeport LNG Reports Outage Impacting Feed Gas Demand

Feed gas demand was disrupted at the Freeport liquefied natural gas (LNG) terminal in Texas last week after the facility reported an outage to state regulators. The LNG terminal east of Houston, on Quintana Island near Freeport, experienced an outage at the Train 1 liquefaction unit last week. The outage led to a cooldown and…

January 18, 2022
ExxonMobil Eyes Operations-Wide Goal to Slash Emissions to Net Zero by 2050

ExxonMobil Eyes Operations-Wide Goal to Slash Emissions to Net Zero by 2050

ExxonMobil has set a far reaching goal to reduce carbon emissions from its major operated assets by 2050, a strategy that it said has been “tested for resiliency” against a range of scenarios. The reduction in direct and indirect greenhouse gas (GHG) emissions across the operations pares with a plan unveiled in December to reach…

January 18, 2022
February Natural Gas Called Slightly Higher as Forecast Outlook Steady Over Weekend

February Natural Gas Called Slightly Higher as Forecast Outlook Steady Over Weekend

After forecasts, still offering plenty of frigid January temperatures, saw no major changes over the long weekend, natural gas futures traded slightly higher early Tuesday. The February Nymex contract was up 4.2 cents to $4.304/MMBtu at around 8:55 a.m. ET. Compared to forecasting from prior to the weekend, Bespoke Weather Services said its latest temperature…

January 18, 2022
Senate Votes Against Nord Stream 2 Sanctions as Political Tensions and European Prices Continue to Rise

Senate Votes Against Nord Stream 2 Sanctions as Political Tensions and European Prices Continue to Rise

Russian aggression toward Ukraine continued to stress European alliances and global natural gas prices Friday following the defeat of sanctions for the 5.3 Bcf/d Nord Stream 2 (NS2) pipeline in the Senate. The sanctions – brought by Sen. Ted Cruz (R-Texas) Thursday night as part of a deal with Sen. Majority Leader Chuck Schumer (D-New…

January 14, 2022
U.S. Seen Gaining Momentum in 2022 on Imperative to Better Measure LNG Emissions

U.S. Seen Gaining Momentum in 2022 on Imperative to Better Measure LNG Emissions

The liquefied natural gas (LNG) industry is poised for a milestone year on the path toward establishing emissions measurements across the value chain, particularly in the United States, where suppliers have made progress in a way that could give them a commercial advantage.

January 14, 2022
For First Time in Five Sessions, Natural Gas Futures Falter as Traders Take Profits

For First Time in Five Sessions, Natural Gas Futures Falter as Traders Take Profits

The price of natural gas for delivery next month nosedived on Thursday as traders took profits after a massive four-day rally. The February Nymex gas futures contract settled at $4.270/MMBtu, down 58.7 cents day/day. March dropped 32.2 cents to $4.005. NGI’s Spot Gas National Avg., in contrast, continued to climb, gaining 89.0 cents to $6.450…

January 13, 2022
Morocco Exploring Natural Gas Supply Alternatives After Losing Algerian Contract

Morocco Exploring Natural Gas Supply Alternatives After Losing Algerian Contract

The government of Morocco has invited bids to consider a floating storage and regasification unit (FSRU) and associated infrastructure at Mohammedia Port near Casablanca, the Agence Nationale des Ports (ANP) said this month.  Last November, Algeria canceled its long-term 1 billion cubic meters (Bcm)/year supply contract to Morocco via the Maghreb-Europe Gas Pipeline because of…

January 13, 2022
Triple-Digit Storage Withdrawal Fails to Impress Natural Gas Futures Traders

Triple-Digit Storage Withdrawal Fails to Impress Natural Gas Futures Traders

The U.S. Energy Information Administration (EIA) reported a pull of 179 Bcf natural gas from storage for the week ended Jan. 7, the largest so far this winter and in line with expectations. Nymex natural gas futures, already down in morning trading following a four-day rally, held deep in the red after the print. Ahead…

January 13, 2022
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