LNG

Intensifying heat across the United States led a sharp rally for natural gas forward prices at a time when exports remain slow and uncertainty continues over energy demand recovery amid the coronavirus pandemic. Prices for August natural gas jumped 15.0 cents on average during the July 2-8 period, as did the balance of summer (August-October),…

Noble Energy Inc. said Thursday the bulk of its shut-in U.S. oil and gas production would be brought back online in the coming weeks.  Noble, whose vast U.S. portfolio extends across Texas and Colorado, said its second quarter curtailments totaled 11,000 b/d of oil. But “significant improvements in operating costs and netback pricing” will allow…

BP plc. has signed a first-of-its-kind deal with one of China’s largest privately-owned energy companies to supply LNG and regasify it at an import terminal.  Under the supply agreement, BP would provide 300,000 metric tons of regasified LNG to ENN Group for two years beginning Jan. 1, 2021. The LNG would be received and regasified…

A roundup of news and commentary from NGI’s LNG Insight Genscape Inc: U.S. feed gas deliveries hit new low Thursday. Demand fell to 2.8 Bcf/d as of evening nomination cycle for gas day July 9, down 1.1 Bcf/d from June average. Since July 1, feed gas demand has remained relatively steady near 3 Bcf/d, firm…

Intensifying heat across the United States led a sharp rally for natural gas forward prices at a time when exports remain slow and uncertainty continues over energy demand recovery amid the coronavirus pandemic. Prices for August natural gas jumped 15.0 cents on average during the July 2-8 period, as did the balance of summer (August-October),…

New Fortress Energy LLC (NFE) has canceled liquefied natural gas (LNG) cargoes it contracted to receive for the remainder of the year in exchange for a payment of $105 million to supplier Centrica LNG Co. Ltd.  The move comes as LNG prices have fallen precipitously, or by 85% over the last year and a half,…

Weak export demand and an uptick in production estimates saw natural gas futures reverse lower in early trading Wednesday. The August Nymex contract was off 4.6 cents to $1.830/MMBtu at around 8:45 a.m. ET. The sell-off in the August contract could be attributed to a small upward revision in the latest production data and another…

A “perfect storm” of oversupply, low prices and the Covid-19 pandemic has snarled billions of dollars worth of liquefied natural gas (LNG) projects, creating a bubble that could burst if the outlook doesn’t improve on multiple fronts, according to a report by Global Energy Monitor. GEM said Monday that the landscape for LNG has drastically…

Continuing economic sluggishness brought on by Covid-19 mitigation efforts is weighing down demand for natural gas, but there could be a price uptick on the horizon, according to the U.S. Energy Information Administration (EIA). Henry Hub spot prices are expected to average $2.46/MMBtu in 4Q2020, bringing the 2020 average to $1.93/MMBtu, EIA said in its…