LNG

European demand for natural gas prevailed in a weekend decision to let pipeline machinery bypass Canadian trade sanctions against Russia for invading Ukraine. Canada’s Natural Resources Minister Jonathan Wilkinson described the move as “supporting Europe’s ability to access reliable and affordable energy as they transition away from Russian oil and gas.” The decision allows a…

Robust heat heading into the second half of July and supply concerns following a pair of recent midstream infrastructure incidents helped send natural gas futures sharply higher in early trading Monday. The August Nymex contract was up 52.4 cents to $6.558/MMBtu at around 8:55 a.m. ET. EBW Analytics Group senior analyst Eli Rubin attributed the…

Bears continued to tear into natural gas futures for the sixth straight week, sending August fixed prices down 87.0 cents on average for the period ending July 6, according to NGI’s Forward Look. September fixed prices put up similarly steep losses, which extended through the remainder of the summer (August-October). Notably, even the strip for…

LONDON (ICIS) — European gas supply uncertainty has continued to push the TTF benchmark to new highs, with the ICIS TTF August ’22 contract surging to the fourth highest level ever on 6 July.

Germany’s Uniper SE, the country’s largest utility and biggest importer of Russian natural gas, has asked for a government bailout after Gazprom PJSC reduced supplies from the Nord Stream 1 pipeline last month by 60%.   Uniper filed a formal application under Germany’s Energy Security Act (EnSiG) asking the government to take a stake in the…

Only one of seven proposed liquefied natural gas (LNG) projects is due to start up this year in the Philippines despite decades of planning for imports of the super-chilled fuel in the country, demonstrating the challenges smaller Asian nations face in getting infrastructure built. “We see more progress on a wide range of projects, but…

While traders and analysts continued to mull the implications of a leaner-than-expected build in the latest government inventory data, natural gas futures were trading close to even early Friday. After dipping as low as $6.079/MMBtu in after-hours trading, the August Nymex contract was off 0.1 cents to $6.296 at around 8:50 a.m. ET. The Energy…

High liquefied natural gas (LNG) spot prices have again pushed India, Pakistan, and Bangladesh out of the market.  As Russia’s war in Ukraine continues, and the Kremlin has limited exports, European countries have rushed to replace Russian pipeline gas with LNG imports, creating a competitive and expensive global spot market that’s made some small and…

Shell plc expects to see a sharp rebound in the value of its natural gas and oil portfolio when the second quarter results are published, as the long-term outlook for commodity prices and demand soar, the London-based major said Thursday. In a preview of its second quarter results, scheduled to be issued on July 28,…