Kinder Morgan Inc. (KMI) expects domestic LNG export demand to more than double to 28 Bcf/d by 2030, Executive Chairman Richard Kinder said Wednesday. “Given the situation in Europe today, which will result in more long-term contracts and the continuing usage in Asia, this hyper-growth scenario actually seems pretty reasonable to me,” Kinder told analysts…
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LNG Vessels Floating Offshore Europe Multiplying as Customers Stash Natural Gas Before Winter
An unprecedented number of LNG vessels are floating offshore Europe as regasification terminal congestion and whipsawing prices further complicate the supply situation. At least 22 ships loaded with liquefied natural gas had been moored on Wednesday for more than five days around European regasification hubs, according to data from Kpler. The majority of the ships…
IEA Adds Another Warning to World About Europe’s Long-Term Natural Gas Supply Woes
Moderating prices and favorable storage data do not tell the whole story of Europe’s natural gas status heading into winter, International Energy Agency (EIA) Executive Director Fatih Birol said, citing Russia and fallout from its protracted war in Ukraine. Following recent meetings with European leaders – including Czech Prime Minister Petr Fiala, Finnish Prime Minister…
Williams Exec Says More Industry-Led Certified Natural Gas Initiatives Needed to Build ‘Common Currency’
U.S. industries will need more independently certified natural gas to reach climate targets, Williams’ Brian Vogt, director of new energy ventures, said, but first, companies have to build trust in low-carbon fuels. Vogt said a lack of transparency and established measures in the certified natural gas space have left investors and international LNG buyers skeptical…
Could Venezuela Help Ease the Global Natural Gas Shortage?
Venezuela could begin exporting commercial volumes of natural gas by way of neighboring Trinidad and Tobago within a relatively short timeframe if U.S. sanctions on Venezuela are relaxed, according to IPD Latin America’s David Voght, managing director. “Our assessment is that within three years, Venezuela could be producing enough to supply Trinidad’s Atlantic LNG Train…
Japan, China Move to Conserve Natural Gas as LNG Price Volatility Rises
Asian countries that typically buy massive volumes of LNG are moving to build contingencies for procuring expensive cargoes and reserving excess volumes as risks of colder winter weather and continued competition with Europe sustain market volatility. Asian natural gas prices have been steadily descending for more than a week, following the Dutch Title Transfer Facility…
Baker Hughes Bullish on LNG, but Brownfield Expansions Likely to Eclipse Newbuilds
Houston-based Baker Hughes Co. kicked off third quarter earnings season for the oil and natural gas sector on Wednesday, acknowledging challenges but optimistic about the emerging upcycle, with a continuing bullish view for LNG. The oilfield services (OFS) giant operates around the world in four segments: OFS, Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS),…
Energy Transition to Bring More Volatility, Opportunity for Natural Gas Firms, BP’s Alvarez Says
BP plc’s Orlando Alvarez, head of gas and power trading in the Americas, sees natural gas and other energy markets heading further into “unprecedented times” of market volatility and regulatory uncertainty, but those changes don’t all have to be challenges for the industry. During a keynote address at LDC Gas Forums’ Gulf Coast Energy Forum…
DHS Approves Jones Act Waiver for Puerto Rico-Bound LNG Cargo
The Department of Homeland Security (DHS) on Sunday approved a temporary Jones Act waiver for an LNG cargo destined for Puerto Rico in order to ensure the island has electricity as it recovers from Hurricane Fiona. The Jones Act requires all maritime cargo transport between U.S. ports to occur on U.S. flagged vessels. “In support…
How Do You Use Technical Analysis – ‘Voodoo Magic’ – to Forecast Natural Gas Prices? Listen Now to NGI’s Hub & Flow
Click here to listen to part two of NGI’s three-part Hub & Flow podcast series that discusses how the North American natural gas market works and details the tools that are available to successfully navigate it. Trying to understand where the price of natural gas at the Henry Hub is headed? In part one, Patrick…