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Natural Gas Forwards Tumble as Revised Golden Pass Timeline Impacts Demand Outlook

Natural Gas Forwards Tumble as Revised Golden Pass Timeline Impacts Demand Outlook

Unable to escape a bearish fundamental outlook informed by production outperformance and mild December weather, regional natural gas forwards saw heavy discounts during the Nov. 30-Dec. 6 trading period, NGI’s Forward Look data show. National benchmark Henry Hub fell to $2.575/MMBtu for January delivery, a 24.4-cent slide versus week-earlier prices.   Winter bulls found little refuge…

December 8, 2023
Mexico Pacific LNG Project Could Have Positive Impacts on Overall Natural Gas Market — Column

Mexico Pacific LNG Project Could Have Positive Impacts on Overall Natural Gas Market — Column

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. In the last decade, monumental infrastructure projects in Mexico have changed the landscape of the natural gas industry. The Ramones system bringing…

December 8, 2023
Magnolia LNG Latest to File for New Export Authorization After DOE Policy Shift

Magnolia LNG Latest to File for New Export Authorization After DOE Policy Shift

Magnolia LNG LLC has filed for a new authorization to export the super-chilled fuel from its proposed facility in Louisiana, the second U.S. project to do so since U.S. regulators said in April they wouldn’t issue extensions to start operations in most cases. The Glenfarne Energy Transition LLC affiliate withdrew its request on Nov. 29…

December 8, 2023
Why Natural Gas Prices Keep Struggling Despite Triple-Digit Storage Pull

Why Natural Gas Prices Keep Struggling Despite Triple-Digit Storage Pull

The heating season has arrived and utilities are drawing substantially more natural gas from storage to get furnaces cranking. But prices remain subdued. What gives? First and foremost: Natural gas production spiked about 4 Bcf/d this year and reached record levels above 106 Bcf/d in November. Output remains close to the all-time high in early…

December 8, 2023
LNG Imports Continue Flowing Into Europe at High Rates Despite Bearish Fundamentals

LNG Imports Continue Flowing Into Europe at High Rates Despite Bearish Fundamentals

High inventories, a bearish demand outlook and forecasts of a mild winter have failed to limit European LNG imports.  Although Kpler data shows the continent’s total liquefied natural gas intake year-to-date has fallen to 113.68 million tons (Mt) from 114.95 Mt, LNG is still expected to make up around 43% of the European Union’s total…

December 8, 2023
Woodside and Santos Confirm Merger Talks, but Say No Deal Close

Woodside and Santos Confirm Merger Talks, but Say No Deal Close

Australia’s two largest energy companies confirmed Thursday that they’re in preliminary discussions to explore merging in a deal that could create one of the world’s leading LNG exporters.  Woodside Energy Group Ltd. and Santos Ltd. cautioned, however, that the discussions are in very advanced stages, but no deal is close to being reached. Both companies…

December 7, 2023
Japan Secures LNG Cargoes for Country’s First Strategic Natural Gas Reserve 

Japan Secures LNG Cargoes for Country’s First Strategic Natural Gas Reserve 

Jera Co. Inc., Japan’s largest power producer, has secured three LNG cargoes to ensure winter demand is met through February 2024 in a purchase made as part of the government’s plan for a strategic reserve of the super-chilled fuel.  Previously, only commercial stocks of liquefied natural gas were held in Japan. Now, like the country’s…

December 7, 2023
In Wake of Golden Pass Delay, January Natural Gas Nears $2.50 Ahead of EIA Data

In Wake of Golden Pass Delay, January Natural Gas Nears $2.50 Ahead of EIA Data

Natural gas futures continued to lose ground early Thursday as milder-trending forecasts did little to repair the damage dealt by a material weakening in export demand expectations heading into next year. After plunging 14.1 cents on Wednesday, the January Nymex contract was down another 3.2 cents to $2.537/MMBtu at around 8:30 a.m. ET. Futures sold…

December 7, 2023
January Futures Crumbled as News of LNG Facility Delay Stokes Storage Glut Fears

January Futures Crumbled as News of LNG Facility Delay Stokes Storage Glut Fears

Natural gas futures tanked at midmorning Wednesday after news of the delayed completion of a major LNG export facility accelerated earlier losses driven by healthy production and lackluster weather-related demand. At A Glance: January natural gas sinks 14.1 cents Golden Pass LNG “mechanical completion” delayed Cash sinks on futures, weather The front-month natural gas futures…

December 6, 2023
Mexico Pacific Nears Sold-Out Capacity for Saguaro LNG with Woodside SPA

Mexico Pacific Nears Sold-Out Capacity for Saguaro LNG with Woodside SPA

Woodside is further diversifying its LNG portfolio with more U.S.-sourced gas from a new supply agreement with Mexico Pacific Ltd. (MPL), tallying another major offtaker for the proposed Mexican terminal. Woodside has inked a 20-year, 1.3 million metric ton/year (mmty) sales and purchase agreement (SPA) for offtake from the Saguaro Energia LNG terminal on a…

December 6, 2023
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