Midstream giant Williams is spending about $1.5 billion to grow its natural gas transportation capacity by nearly 2 Bcf/d over the next few years to accommodate growing demand, particularly for exports, according to management. One of the six transmission projects the Tulsa-based midstreamer is developing is a 364 MMcf/d expansion on the Transcontinental Gas Pipe…
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Europe Weighs Risks of Further Russian Natural Gas Supply Cuts – LNG Recap
European natural gas prices bounced back on Tuesday as the market appeared torn between steadily increasing liquefied natural gas (LNG) imports and the possibility of further disruptions to Russian supplies. Russia cut off natural gas exports to Poland and Bulgaria for the countries’ refusal to comply with the Kremlin’s decree requiring European buyers to change…
Energy Transfer Clinches Fourth Lake Charles LNG Supply Deal in Less Than Two Months
Energy Transfer LP (ET) said Tuesday it signed yet another long-term deal to sell liquefied natural gas (LNG) from its proposed Lake Charles LNG export terminal in Louisiana. The company signed a sales and purchase agreement (SPA) with SK Gas Trading LLC of South Korea for 400,000 metric tons/year of LNG on a free-on-board basis.…
Devon Eyeing LNG Opportunities, Maintaining Focus in Permian
Oklahoma City-based Devon Energy Corp. reported steady growth in the first quarter, especially from its Permian Basin assets. However, the company is holding firm to its “value over volume” approach, choosing to maintain its production and capital investment levels. Despite heightened global oil and gas prices because of the Russian invasion of Ukraine and calls…
TC Energy Sees North American LNG Exports Swelling 90% by 2030
TC Energy Corp. now expects liquefied natural gas (LNG) exports from North America to reach 25 Bcf/d by 2030, up more than 90% from current levels, according to CEO Francois Poirier. “While the world confronts a serious geopolitical shift, a transition to cleaner energy that also meets the world’s demand is still required,” Poirier said…
Forecasts Tease Summer Heat as Bullish Sentiment Drives Natural Gas Futures Toward $8
Against a bullish backdrop of underperforming domestic production, a glimpse of summer temperatures in updated forecasts spurred natural gas futures sharply higher in early trading Tuesday. After picking up 23.1 cents in the previous session, the June Nymex contract was up 44.7 cents to $7.922/MMBtu at around 8:50 a.m. ET. A combination of technical momentum…
ExxonMobil to Stay Disciplined Amid Growing Global Opportunities for Oil, Natural Gas
Growth in the Permian Basin, Guyana’s offshore and the global liquefied natural gas (LNG) market are gaining momentum, along with low-carbon opportunities, ExxonMobil CEO Darren Woods said last week. During the 1Q2022 conference call on Friday (April 29), Woods told investors that “recent events” have clarified the direction for oil and gas producers. New investments…
NextDecade, Energy Transfer Ink SPAs for Proposed Rio Grande and Lake Charles LNG Projects
NextDecade Corp. and Energy Transfer LP separately on Monday clinched more sales and purchase agreements (SPA) for their respective liquefied natural gas (LNG) export projects proposed for South Texas and Louisiana. France’s Engie SA negotiated a 15-year, 1.75 million metric ton/year (mmty) SPA with Houston-based NextDecade for gas from Rio Grande in Brownsville, TX. Engie…
Southwestern, CNX See Challenges, Advantages in Meeting Growing LNG Demand
The world’s growing appetite for U.S. liquefied natural gas (LNG) continued to take center stage during earnings calls at two more of the nation’s top exploration and production companies, with management at both acknowledging the opportunities and challenges that come with meeting rising demand. Southwestern Energy Co. said Friday it’s already sending a third of…
Natural Gas Futures Advance as Market Looks for Signs of a Hot Summer
With early-season cooling demand in the southern Lower 48 offering a potential glimpse into what summer could bring, natural gas futures advanced in after-hours trading over the weekend. The June Nymex contract was up 10.4 cents to $7.348/MMBtu at around 8:40 a.m. ET Monday. Prices had initially opened strongly over the weekend, trading as high…