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Natural Gas Futures’ Rally Continues Driven by Demand-Side Fundamentals, Spot Surges

Natural Gas Futures’ Rally Continues Driven by Demand-Side Fundamentals, Spot Surges

June Nymex natural gas futures climbed with the mercury as hot weather supports cooling demand, driving prices to four-month highs. At A Glance: Futures up 12.5 cents Strong cooling demand Cash gains with heat The front-month contract settled at $2.751/MMBtu, up 12.5 cents from Friday. Momentum is driving June futures to a level not seen…

May 20, 2024
Asian Spot Buying Increases Amid Hot Weather, Supply Disruptions – LNG Recap

Asian Spot Buying Increases Amid Hot Weather, Supply Disruptions – LNG Recap

Hot weather, maintenance at power generation facilities and LNG production outages have combined to push Asian natural gas prices higher. The July Japan-Korea Marker futures contract was trading above $11/MMBtu after climbing 7% last week.  One of three trains at Chevron Corp.’s Gorgon liquefied natural gas export facility in Western Australia, which mainly serves Asia,…

May 20, 2024
Adnoc Lands 1.9 MMty Offtake Agreement, Equity in Rio Grande LNG

Adnoc Lands 1.9 MMty Offtake Agreement, Equity in Rio Grande LNG

Abu Dhabi National Oil Co. (Adnoc) has invested in the first phase of Rio Grande LNG and secured offtake from a future expansion as it looks to boost its international natural gas portfolio. Adnoc disclosed Monday it has acquired an 11.7% stake in the first three trains of NextDecade Corp.’s 17.6 million metric tons/year (mmty)…

May 20, 2024
Australia Looks to Couple Natural Gas Development With Net-Zero Goals

Australia Looks to Couple Natural Gas Development With Net-Zero Goals

Australia’s government has included initiatives for substantial natural gas development with the launch of its Future Gas Strategy plan intended to help the country transition to cleaner energy by 2050. The latest plan assures global energy partners and foreign investors that the Australian government is a committed, reliable supplier of liquified natural gas. “It is…

May 17, 2024
Gulfstream LNG Project Begins Regulatory Review Process at FERC, Secures Seed Funding

Gulfstream LNG Project Begins Regulatory Review Process at FERC, Secures Seed Funding

FERC has approved Gulfstream LNG Development LLC’s request to start the pre-filing permitting process, kicking off the regulatory review for its 4 million metric tons/year (mmty) liquefied natural gas export project planned for Plaquemines Parish, LA.  The company submitted a pre-filing application last month and expects to file a formal application in September for the…

May 17, 2024
Natural Gas Futures Extend Rally; No LNG Impacts Observed After Houston Hit by Storms

Natural Gas Futures Extend Rally; No LNG Impacts Observed After Houston Hit by Storms

Bulls remained in control in natural gas futures trading early Friday as recent inventory data pointed to tight underlying balances heading into the peak summer months. The June Nymex contract was up 4.9 cents to $2.544/MMBtu as of 8:36 a.m. ET. July was up 3.6 cents to $2.723. The U.S. Energy Information Administration (EIA) on…

May 17, 2024
Freeport LNG Restart Marks 1.5 MMty Production Boost as Debottlenecking Project Wraps Up

Freeport LNG Restart Marks 1.5 MMty Production Boost as Debottlenecking Project Wraps Up

Freeport LNG Development LP is gearing up to expand its output of cargoes to the spot market after completing an expansion project during extended maintenance. Freeport management recently confirmed that all three trains at the Texas facility are back online after a series of mechanical issues and damage from a winter storm earlier in the…

May 16, 2024
FERC Seeking More Information from CP2 Ahead of May Meeting – Three Things to Know About the LNG Market

FERC Seeking More Information from CP2 Ahead of May Meeting – Three Things to Know About the LNG Market

NO. 1: FERC has requested more information from Venture Global LNG Inc. about the potential air pollution from the company’s CP2 export project.  The Wednesday request comes ahead of the Federal Energy Regulatory Commission’s scheduled meeting on May 23. It raises the possibility that the Commission again may not vote on the project. CP2 has…

May 16, 2024
Enbridge Touts Natural Gas Projects Adding Permian Egress and Supporting LNG, Data Center Demand  

Enbridge Touts Natural Gas Projects Adding Permian Egress and Supporting LNG, Data Center Demand  

Enbridge Inc. management touted a plethora of projects strategically focused on LNG exports and natural gas that are expanding and optimizing the Calgary-based midstream giants’ operations.  CEO Greg Ebel recently held an earnings call and reviewed the company’s first quarter results.  With “sustainability at the core, Enbridge is “committed to meeting the needs of our…

May 16, 2024
Natural Gas Futures Extend Rally Ahead of Storage Data as Surpluses Poised to Contract

Natural Gas Futures Extend Rally Ahead of Storage Data as Surpluses Poised to Contract

As traders prepared to digest updated government inventory data, expected to show surpluses trending lower week/week, natural gas futures advanced early Thursday. The June Nymex contract was up 3.0 cents to $2.446/MMBtu at around 8:40 a.m. ET. July was up 2.8 cents to $2.659. Ahead of the U.S. Energy Information Administration’s (EIA) 10:30 a.m. ET…

May 16, 2024
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