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October Natural Gas Futures Flounder as Hurricane, Expiry Approach

October Natural Gas Futures Flounder as Hurricane, Expiry Approach

Natural gas futures dived lower on Tuesday as Hurricane Ian approached the southeastern United States, threatening demand destruction and elevating uncertainty in a thinly traded market heading into prompt month expiration Wednesday. Ongoing energy tumult in Europe tied to Russia’s war in Ukraine added another dose of unease for market participants. The October Nymex gas…

September 27, 2022
López Obrador Touts Mexico LNG Project for Energy Starved Europe 

López Obrador Touts Mexico LNG Project for Energy Starved Europe 

Mexico President Andrés Manuel López Obrador said during his daily press conference on Tuesday that an LNG terminal could potentially be built in the port of Coatzacoalcos in southern Veracruz to export natural gas to Europe. It’s not the first time López Obrador has talked about shipping gas to Europe as the continent reels from…

September 27, 2022
TotalEnergies Expanding North Field Investment with Qatar to Build LNG Capacity

TotalEnergies Expanding North Field Investment with Qatar to Build LNG Capacity

TotalEnergies is expanding its investment in Qatar’s next wave of natural gas and LNG development as the first international stakeholder in the North Field South (NFS) project. The French major agreed to take a more than 9% stake in the 16 million metric ton/year (mmty) liquefied natural gas project planned for the waters off of…

September 27, 2022
Nord Stream Pipe Damage Sparks European Natural Gas Price Surge

Nord Stream Pipe Damage Sparks European Natural Gas Price Surge

European natural gas and power prices reversed a nearly week-long decline on Tuesday as news of potential damage to the Nord Stream 1 (NS1) and Nord Stream 2 (NS2) pipeline networks stoked concern about the future of Russian supply to the continent. The operator of NS1, Nord Stream AG, detected a drop in pressure late…

September 27, 2022
Woodside Relinquishes Newfoundland Offshore Licenses Amid LNG, GOM Focus

Woodside Relinquishes Newfoundland Offshore Licenses Amid LNG, GOM Focus

Remote North Atlantic drilling offshore Newfoundland has lost out in competition against LNG and lower-cost Gulf of Mexico wells for investment by top Australian producer Woodside Energy Group Ltd. The Perth-based firm dropped Grand Banks exploration licenses, acquired in its June merger with BHP Petroleum, that fetched work bids of C$822 million ($616 million) in…

September 27, 2022
Calm Before Storm? Natural Gas Futures Called Slightly Higher as Ian Approaches

Calm Before Storm? Natural Gas Futures Called Slightly Higher as Ian Approaches

With Florida bracing for impact and analysts predicting volatility ahead of this week’s front month contract expiration, natural gas futures posted modest gains in early trading Tuesday. The October Nymex contract was up 4.2 cents to $6.945/MMBtu at around 8:45 a.m. ET. November was up 2.9 cents to $7.043. After making landfall over western Cuba,…

September 27, 2022
API: European LNG Demand, Role of U.S. Natural Gas Outpaces Previous Estimates

API: European LNG Demand, Role of U.S. Natural Gas Outpaces Previous Estimates

The European Union has made significant progress to replace Russian natural gas, but an abrupt stop to pipeline flows could mean future U.S. LNG projects will be the key to rebalancing energy markets on the continent, industry groups highlighted in a new analysis. In a new report by Rystad Energy AS, conducted for the American…

September 26, 2022
Europe’s Sustainable Label for Natural Gas, Nuclear Under Fire

Europe’s Sustainable Label for Natural Gas, Nuclear Under Fire

More than a dozen non-governmental (NGO) and environmental organizations are challenging the European Union’s (EU) decision to label natural gas and nuclear as sustainable investments under a law adopted in July. The EU taxonomy under the Climate Delegated Act (CDA)  is a classification system established to clarify which investments are considered sustainable. The groups opposing…

September 26, 2022
Momentum Midstream Takes FID on 1.7 Bcf/d Haynesville Natural Gas Gathering, Carbon Capture Project

Momentum Midstream Takes FID on 1.7 Bcf/d Haynesville Natural Gas Gathering, Carbon Capture Project

Private equity-backed Momentum Midstream LLC said Thursday it is moving forward with the New Generation Gas Gathering (NG3) project in the Haynesville Shale. The project, which is meant to supply growing Gulf Coast and LNG export demand, is to have initial capacity of 1.7 Bcf/d, expandable to 2.2 Bcf/d. Momentum is a subsidiary of Encap…

September 26, 2022
Hurricane Ian Seen Reaching Florida This Week as Natural Gas Futures Extend Slide

Hurricane Ian Seen Reaching Florida This Week as Natural Gas Futures Extend Slide

With a hurricane tracking toward Florida and the Southeast later this week, potentially impacting natural gas demand in the process, futures extended their losses in early trading Monday. The October Nymex contract was off 15.3 cents to $6.675/MMBtu at around 8:45 a.m. ET. November was down 13.6 cents to $6.856. Hurricane Ian, churning about 275…

September 26, 2022
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