The dip in oil and gas production that Southeast Asia has seen since 2020 is exacerbating a downward trend in regional volumes that may continue into the decade ahead, according to a recent industry analysis. Analysts with Rystad Energy recently predicted that the region’s combined oil and gas production would likely not push above the…
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Natural Gas Futures Climb Early as Weather Models Shift Slightly Cooler
Natural gas futures probed higher early Wednesday amid colder adjustments to the forecast outlook and signs of supportive fundamentals, at least in the short term. The February Nymex contract was up 11.1 cents to $3.828/MMBtu at around 8:50 a.m. ET. While volatile recently, weather models showed only a small day/day change in projected weather-driven demand…
Natural Gas Futures Fail to Maintain Footing Despite Production Drop, Heating Demand
Natural gas prices faltered on Tuesday even as domestic forecasts showed robust near-term heating demand and as producers curtailed output amid freezing conditions. The February Nymex gas futures contract shed 9.8 cents day/day and settled at $3.717/MMBtu. March fell 9.6 cents to $3.582. NGI’s Spot Gas National Avg. fell 30.0 cents to $4.295 as prices…
U.S. AGs Call for ‘Prompt Suspension’ of LNG Transport by Rail Rules
A coalition of 14 attorneys general (AG) wants to close the door on approving shipping liquefied natural gas (LNG) by rail in the United States. The coalition, led by Maryland AG Brian Frosh and New York AG Letitia James, submitted comments in late December regarding the proposal by the Pipeline and Hazardous Materials Safety Administration…
NextDecade Now Targeting Rio Grande LNG FID Later This Year
NextDecade Corp. has again pushed back a final investment decision for its Rio Grande liquefied natural gas (LNG) export project in Brownsville, TX. The company is now targeting the second half of 2022 for an FID on 11 million metric tons/year (mmty), or two liquefaction trains, according to an updated investor presentation released on Monday.…
Natural Gas Futures Open 2022 Higher as LNG Strength Outshines Mixed Weather Outlook
Natural gas prices hovered in a narrow range of modest gains and losses early Monday before creeping upward and ultimately finishing comfortably in positive territory, as traders assessed a bearish tilt in the weather outlook against strong demand prospects for U.S. liquefied natural gas (LNG) exports. The February Nymex gas futures contract settled at $3.815,…
Near-Term Cold Fuels Monstrous January Natural Gas Bidweek Gains in Some Locations
On the cusp of the winter season’s first widespread cold snap, natural gas prices for January baseload were a mixed bag during the bidweek trading period from Dec. 27-29. Propelled by hefty premiums on the West and East coasts, which countered $1.00-plus losses elsewhere across the country, NGI’s January Bidweek National Avg. climbed 18.5 cents…
European Natural Gas Prices Bounce Back on Supply Outlook – LNG Recap
European natural gas prices finished higher for the first time in eight days on Monday as the market once again focused on supply shortfalls this winter. A wave of liquefied natural gas (LNG) cargoes has been landing on the continent as traders looked to capitalize on soaring prices in recent weeks that hit a record…
European Natural Gas Prices Down Again – The Offtake
A roundup of news and commentary from NGI’s LNG Insight European natural gas prices fell for a seventh consecutive day on Thursday. Warmer weather, more LNG deliveries and a decline in industrial demand continued weighing on prices that recently hit record highs of about $60/MMBtu. British and Dutch futures declined by about $3 Thursday, when…
January Natural Gas Futures Succumb to Late Selling Pressure, Expire Lower
Natural gas futures surged midweek as Old Man Winter appeared ready to ring in the new year. Even with the potential for cold weather to last a couple of weeks, though, the January Nymex futures contract expired 3.1 cents lower at $4.024/MMBtu. The incoming prompt-month February contract settled at $3.850, down 3.5 cents from Tuesday’s…