LNG

Norway’s Equinor ASA reported it has fully cut ties with its Russian projects as it finishes a long-awaited restart of one of Europe’s largest liquefied natural gas (LNG) terminals. Equinor launched a plan to end all future investments and divest from current partnerships in Russia shortly after the country’s forces invaded Ukraine in February. The…

Additional volatility in the global natural gas market set off by Russia’s invasion of Ukraine earlier this year is driving liquidity in global benchmarks that continues to set new highs, particularly in Europe, according to the Intercontinental Exchange (ICE).  Open interest in Italian Punto di Scambio Virtuale (PSV) gas futures was up 169% year/year from…

Russia’s state-controlled Gazprom PJSC has threatened a cut-off of natural gas supplies to Denmark and the Netherlands, and a partial reduction for Germany, as it continues to demand contract payments in rubles. On Monday, Denmark’s Ørsted AS and GasTerra BV in the Netherlands both reported they were notified by state-controlled Gazprom that it would halt…

Natural gas futures trended lower again Tuesday, following a holiday weekend in which production estimates climbed and maintenance work curbed flows of U.S. exports. The July Nymex gas futures contract settled at $8.145/MMBtu, down 58.2 cents on the day, after a 16.8-cent sell-off on Friday. August fell 57.4 cents to $8.138. NGI’s Spot Gas National…

Shell Australia Pty Ltd. and joint venture partner SGH Energy are moving forward with developing the Crux natural gas field offshore Western Australia, a project to supply the existing Prelude floating liquefied natural gas (FLNG) facility. Crux is expected to have capacity to supply the Prelude FLNG facility with up to 550 MMcf/d. Construction is…

Enbridge Inc. is moving forward with a pair of pipeline expansion projects that would deliver 1.5 Bcf/d of natural gas to the Plaquemines liquefied natural gas (LNG) export terminal recently sanctioned by Venture Global Inc. The Gator Express Meter (GEM) and Venice Extension projects would involve 36-inch diameter pipeline, metering and compressor station additions and…

International liquefied natural gas (LNG) buyers could keep up the strong pace of new long-term contracts through the rest of the year as short-term volumes continue to grow more expensive, according to market analysts. Since the beginning of the year, buyers have secured over 22 million metric tons/year (mmty) of LNG by signing new deals.…

Natural gas futures skidded lower in early trading Tuesday amid a combination of bearish trends in fundamental indicators and potential demand destruction from cooler weather associated with potential tropical cyclone activity in the Gulf of Mexico.  Coming off a 16.8-cent sell-off on Friday, the July Nymex contract was down 20.3 cents to $8.524/MMBtu at around…

With warnings of higher prices still to come, natural gas forward prices mounted hefty gains for the trading period ending May 25, with prices nearing $9.00/MMBtu across much of the country and cresting $10.00 in California, according to NGI’s Forward Look. June fixed prices averaged 65.0 cents higher on the week, while the balance of…