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LNG Demand Not Enough to Stop Natural Gas Forward Price ‘Meltdown’

LNG Demand Not Enough to Stop Natural Gas Forward Price ‘Meltdown’

A balmy weather outlook that was seen potentially extending through the first third of December weighed heavily on natural gas market sentiment during the Nov. 12-18 period, sending forward prices crashing down by an average of 36.0 cents, according to NGI’s Forward Look. Similar to the prior week, the steepest losses occurred in Appalachia. However,…

November 19, 2020
LNG Rebound Still Fragile as European Storage, Winter Weather Patterns Remain Wildcards

LNG Rebound Still Fragile as European Storage, Winter Weather Patterns Remain Wildcards

Goldman Sachs Commodities Research analysts this week reiterated their belief that last summer was “the peak of the current bearish cycle in global gas markets,” saying in a forecast that they expect tighter conditions in Asia, Europe and the United states through next year. Goldman analysts said they see this year’s bearish drivers “largely reversing”…

November 19, 2020
December Natural Gas Futures Crawl Higher Ahead of Storage Report; Cash Prices Drop

December Natural Gas Futures Crawl Higher Ahead of Storage Report; Cash Prices Drop

December Natural gas futures edged up on Wednesday, led higher by steadily solid liquefied natural gas (LNG) volumes and weather forecasts that shifted cooler. The December Nymex contract rose 2.0 cents day/day and settled at $2.712/MMBtu. January, however, traded sideways most of the day and closed down six-tenths of a cent at $2.838. NGI’s Spot…

November 18, 2020
Coastal GasLink Pipeline Progressing; TC Energy Optimistic for Keystone XL

Coastal GasLink Pipeline Progressing; TC Energy Optimistic for Keystone XL

Despite protest blockades and the Covid-19 pandemic, work is nearly one-third finished on the Coastal GasLink (CGL) pipeline project across northern British Columbia (BC) for the LNG Canada export terminal on the Pacific coast, according to TC Energy Corp. The C$6.6 billion ($5 billion) BC pipeline project is 31% finished, TC Energy said. The completion…

November 18, 2020
Equinor Forecasts Natural Gas Demand to Climb as Prices Fall, but Investment Cycle Uncertain

Equinor Forecasts Natural Gas Demand to Climb as Prices Fall, but Investment Cycle Uncertain

Low natural gas prices should boost demand growth in the medium term, and the export market could tighten in the mid 2020s, but there remains uncertainty in the forecast in part because of Covid-19, according to Equinor ASA’s 10th Energy Perspectives report. The Norwegian-based super major’s annual energy outlook, covering fossil fuels, alternative energy and…

November 18, 2020
Energía Costa Azul Sanctioned, Looks to Become Mexico’s First LNG Export Project

Energía Costa Azul Sanctioned, Looks to Become Mexico’s First LNG Export Project

San Diego-based Sempra Energy has reached a final investment decision (FID) for the development, construction and operation of a natural gas liquefaction plant in Mexico’s Baja California. Energía Costa Azul (ECA) is a liquefied natural gas (LNG) joint venture between subsidiaries Sempra LNG and Infraestructura Energética Nova (IEnova). It is the first LNG export project…

November 17, 2020
LNG Recap: U.S. Exports Still Strong, Lead Global Gains

LNG Recap: U.S. Exports Still Strong, Lead Global Gains

U.S. liquefied natural gas (LNG) exports remained strong as the week got underway, with feed gas deliveries holding near record highs of about 10 Bcf/d.  The ongoing strength in domestic cargo departures helped push global exports to their highest level in six months through October, data intelligence firm Kpler said last week. Global exports stood…

November 17, 2020
December Natural Gas Steady Early as Forecasts Remain Bearish

December Natural Gas Steady Early as Forecasts Remain Bearish

Coming off a dramatic sell-off in the previous session, natural gas futures held their ground early Tuesday, although bearish themes continued in the latest forecasts. The December Nymex contract was up 1.2 cents to $2.709/MMBtu at around 8:45 a.m. ET. The temperature outlook to start the winter heating season has been thoroughly disappointing from the…

November 17, 2020
December Natural Gas Futures Plummet on Fading Weather Demand; Spot Prices Eke Out Gain

December Natural Gas Futures Plummet on Fading Weather Demand; Spot Prices Eke Out Gain

Despite robust export demand, bearish weather patterns and increased production weighed down natural gas futures on Monday. The December Nymex contract dropped 29.8 cents day/day and settled at $2.697/MMBtu to start the trading week. January fell 25.8 cents to $2.864. NGI’s Spot Gas National Avg. rose 3.0 cents to $2.630, as demand in the Northeast…

November 16, 2020
ICE Reports Record Open Interest in Environmental Risk Tools

ICE Reports Record Open Interest in Environmental Risk Tools

With a growing commitment among energy companies to tackle climate change, open interest across Intercontinental Exchange Inc.’s (ICE) environmental complex reached a record high last week. The environmental complex, which includes futures and options connected to ICE’s European and California Carbon allowances, Regional Greenhouse Gas Initiative and renewable energy credits, hit record open interest of…

November 16, 2020