European natural gas prices have continued to decline since the Nord Stream (NS) pipeline systems connected to previously vital Russian gas were damaged, but the International Energy Agency (IEA) warned LNG markets could be drastically impacted into next year. In the IEA’s latest natural gas market report, researchers said the blows to Russian gas imports…
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EU Members Disagree on Natural Gas Price Cap, Adopt Other Measures to Ease Energy Crisis
To help cope with the European energy crisis, all twenty seven European Union (EU) members approved several measures at a Brussels meeting on Friday, including levies on windfall profits made by fossil fuel companies. But, after weeks of debate from members and market speculation, a bloc-wide cap on natural gas import prices has been tabled…
Natural Gas Futures Extend Sell-Off as Fundamentals Looking Weak
Weighed down by weak shoulder season fundamentals, natural gas futures added to their losses in early trading Monday. After sliding 10.8 cents on Friday, the November Nymex contract was off another 23.4 cents to $6.532/MMBtu as of around 8:40 a.m. ET. From a technical standpoint, prices held above a “dense cluster of support candidates” from…
Natural Gas Forward Curves Retreat as Deadly Ian Rages Across Southeast
With natural gas production remaining stout – even amid temporary shut-ins ahead of Hurricane Ian – and cooler weather leaving its mark on storage inventories, natural gas forward prices continued to fall during the Sept. 22-28 week, according to NGI’s Forward Look. In the latter part of the period, all attention was on Florida, where…
Germany Secures LNG Supply from UAE, Possible First Cargo by December
German utility RWE AG has secured another LNG supply source in an agreement with Abu Dhabi National Oil Company (ADNOC) that could bring additional cargoes to Germany’s developing import terminals as soon as December. RWE and the United Arab Emirates’ (UAE) state-owned ADNOC agreed to a multi-year supply contract for liquefied natural gas starting in…
Asian LNG Price Dips on Japan’s High Stocks, TTF Rises
The price spread between the ICIS East Asia Index (EAX) and Dutch TTF widened over the week, with East Asian spot prices dipping on high utility inventory levels in Japan and the latest tender cargo awards from south and southeast Asia.
Mexico LNG Arising As Future Solution 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…
Market Said Oversupplied as Analysts Assess Triple-Digit Build; NatGas Futures Called Lower
As traders and analysts continued to contemplate shoulder season balances following a second consecutive triple-digit inventory build, natural gas futures skidded lower early Friday. The November Nymex contract was off 4.4 cents to $6.830/MMBtu at around 8:45 a.m. ET. The Energy Information Administration (EIA) on Thursday reported a 103 Bcf injection for the week ended…
As Hurricane Ian Rages, November Natural Gas Futures Contract Debuts with Whimper
Natural gas futures fell on Wednesday in the wake of demand destruction imposed by Hurricane Ian and another stout storage injection. The November Nymex gas futures contract, debuting as the prompt month, lost 8.1 cents day/day and settled at $6.874 /MMBtu. December shed 5.8 cents to $7.142. At A Glance: EIA prints 103 Bcf storage…
U.S. E&P, OFS Execs Report Steady Activity, but ‘Inexpensive Natural Gas’ at End
Oil and natural gas activity in the Permian Basin, Eagle Ford and Haynesville shales expanded at a steady clip during the third quarter, but the pace decelerated from the record-breaking second quarter, the Federal Reserve Bank of Dallas said. The Dallas Fed, as it is known, collected 3Q2022 data from Sept. 14-22 from 163 energy…