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Chart Industries Hit by Supply Chain Woes, but Demand Remains Strong for Oil, Natural Gas Products

Chart Industries Hit by Supply Chain Woes, but Demand Remains Strong for Oil, Natural Gas Products

Chart Industries Inc. wrestled with inflationary pressures and operational challenges during the third quarter that weighed on results, but the company stressed that it continues to see “broad-based” demand for its products.  Chart engineers and manufactures equipment, including systems to liquefy hydrocarbons, hydrogen and helium. Like other industrial companies, supply chain, labor and logistics challenges…

October 25, 2021
Natural Gas Futures ‘Reinvigorated’ by Weekend Cold Shift as Prices Soar Early

Natural Gas Futures ‘Reinvigorated’ by Weekend Cold Shift as Prices Soar Early

A major colder shift from weather models over the weekend had natural gas futures soaring in early trading Monday, though forecasters wondered about the durability of the pattern change. The November Nymex contract was up 35.7 cents to $5.637/MMBtu at around 8:50 a.m. ET. Compared to Friday’s expectations, the latest model runs advertised a “material…

October 25, 2021
Shrinking Deficit, Bearish Temps Keep Pressure on Natural Gas Forwards

Shrinking Deficit, Bearish Temps Keep Pressure on Natural Gas Forwards

A shrinking storage deficit and fading risks for a frigid start to the U.S. heating season saw front-month natural gas forwards fall sharply during the Oct. 15-20 trading period, NGI’s Forward Look data show. A 51.2-cent decline in November Henry Hub fixed natural gas prices for the period triggered losses of comparable magnitude at hubs…

October 22, 2021
UK’s Net-Zero Strategy Not Calling to Phase Out Natural Gas

UK’s Net-Zero Strategy Not Calling to Phase Out Natural Gas

The UK government has unveiled an ambitious strategy to reach net-zero greenhouse gas emissions by 2050 that would significantly curb reliance on oil and natural gas without phasing them out completely.  The nearly 400-page plan details policies and proposals that build on a “Ten Point Plan” released last year by Prime Minister Boris Johnson. The…

October 22, 2021
Volatile Natural Gas Markets Forecast for 18 Months or Longer, Along with More U.S. LNG Export Projects

Volatile Natural Gas Markets Forecast for 18 Months or Longer, Along with More U.S. LNG Export Projects

The U.S. natural gas markets are going to see big swings for at least the next year and a half, with production volumes exiting this year at about the same rate as when the year began, according to an IHS Markit expert. IHS Markit’s Jack Weixel, senior director of the Gas, Power and Energy Futures…

October 22, 2021
Natural Gas Forwards Plunge on Mild Temps, Narrowing Storage Deficit

Natural Gas Forwards Plunge on Mild Temps, Narrowing Storage Deficit

A shrinking storage deficit and fading risks for a frigid start to the U.S. heating season saw front-month natural gas forwards fall sharply during the Oct. 15-20 trading period, NGI’s Forward Look data show. A 51.2-cent decline in November Henry Hub fixed natural gas prices for the period triggered losses of comparable magnitude at hubs…

October 21, 2021
Precision Drilling CEO Bullish on Improving North American Oil, Natural Gas Activity

Precision Drilling CEO Bullish on Improving North American Oil, Natural Gas Activity

Precision Drilling Corp., an oilfield services behemoth whose reach extends across Canada, the United States and into international markets, is seeing “ the most promising backdrop for our business that we have experienced in almost a decade,” CEO Kevin Neveu said Thursday.  The bullish views have led the Calgary-based operator to pump up its capital…

October 21, 2021
Quebec Premier Calls for Banning Hydrocarbon Production, LNG Exports

Quebec Premier Calls for Banning Hydrocarbon Production, LNG Exports

Foreshadowed for years, French Canada said it plans to ban fossil fuel production by rejecting exploration and production development and liquefied natural gas (LNG) exports. “The government of Quebec has taken a decision to renounce, definitively, extraction of hydrocarbons in its territory,” said Premier Fancois Legault. He announced the move in an annual State of…

October 21, 2021
Venture Global Lands Deals to Supply China’s Sinopec from Plaquemines LNG Export Project

Venture Global Lands Deals to Supply China’s Sinopec from Plaquemines LNG Export Project

Venture Global LNG Inc. has signed two long-term sales and purchase agreements to supply state-owned China Petroleum & Chemical Corp., aka Sinopec, with liquefied natural gas (LNG) from its Plaquemines export terminal under development in Louisiana.  Sinopec agreed last month to purchase 2.8 million metric tons/year (mmty) on a free-on-board (FOB) basis in one deal…

October 20, 2021
Argentina Launches Third Natural Gas Tender to Boost Production Amid High Prices

Argentina Launches Third Natural Gas Tender to Boost Production Amid High Prices

Argentina’s government has launched a natural gas tender to try to shore up domestic supply starting in the Southern Hemisphere winter in 2022. The majority of the gas would come from the Neuquén Basin, home to the massive Vaca Muerta formation. Energy Secretary Darío Martínez said the objective of the tender — part of the…

October 20, 2021
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