Management for New Fortress Energy Inc. expects liquefied natural gas (LNG) demand to “materially” exceed supply through 2039, saying in the third quarter 2021 earnings report that underinvestment in fossil fuels has left the global market vulnerable. Investment in oil and gas projects, according to NFE, has dropped sharply in recent years, going from $800…
LNG
Articles from LNG
Weekend Models Show ‘Inconsequential’ Demand Gains as Natural Gas Futures Soften Early
Natural gas futures softened in early trading Monday as weekend shifts in forecasts failed to deliver the kind of intense winter cold needed to catalyze the market. The December Nymex contract was off 9.7 cents to $5.419/MMBtu at around 8:40 a.m. ET. Over the weekend, trends in the major weather models yielded a “pretty inconsequential”…
Pressure Resumes on Natural Gas Prices, with December Futures Falling First Time in Four Days
Natural gas futures faltered on Friday amid dubious midrange weather outlooks and increased production, ending a three-day win streak. The December Nymex contract settled at $5.516/MMBtu, down 20.0 cents day/day. January fell 20.0 cents to $5.626. At A Glance: Weather forecasts are ‘very noncommittal’ Storage supplies near five-year average Cash prices slump amid mild temperatures…
Natural Gas Forward Prices Soften on Lack of Cold, but Strong Export Demand to Continue
A steep sell-off early in the Oct. 28-Nov. 3 period because of generally unsupportive weather sent natural gas forward prices tumbling by double digits. December forward prices plunged an average 17.0 cents, while the balance of winter (December-March) slid 16.0 cents, according to NGI’s Forward Look. Summer (April-October) prices also softened, but losses were smaller…
China Cuts Another Long-Term Deal for U.S. LNG Supply from Cheniere
Cheniere Energy Inc. said Friday it has reached a deal with China’s Sinochem Group Co. Ltd. to supply 0.9 million metric tons/year (mmty) of liquefied natural gas (LNG) beginning in July 2022. The state-owned chemical conglomerate would buy LNG under the sales and purchase agreement (SPA) for a term of 17.5 years. Its purchases would…
Warm November Outlook, Improved Supply Backdrop Pressure Natural Gas Forward Prices
A steep sell-off early in the Oct. 28-Nov. 3 period because of generally unsupportive weather sent natural gas forward prices tumbling by double digits. December forward prices plunged an average 17.0 cents, while the balance of winter (December-March) slid 16.0 cents, according to NGI’s Forward Look. Summer (April-October) prices also softened, but losses were smaller…
Panama Canal Seeing Record Tonnage, Driven by LNG Exports to Asia
The Panama Canal Authority said a record amount of tonnage passed through the waterway during fiscal year (FY) 2021, a milestone driven in large part by liquefied natural gas (LNG) cargoes, which saw the largest increase. “LNG is not only growing the fastest, but it has had its best year in terms of tonnage through…
Cheniere Reports Record LNG Exports, but Steep Loss on Volatile Natural Gas Prices
Cheniere Energy Inc. loaded a record 141 liquefied natural gas (LNG) cargoes in the third quarter as prices skyrocketed and global demand increased ahead of the winter. Management expects more of the same in the coming months. “In the short term, we have witnessed significant volatility and record prices for LNG and natural gas across…
Venture Global Signs Largest U.S. LNG Supply Deal on Record with Sinopec
Venture Global LNG Inc. has reached a deal to sell nearly 8 million metric tons/year (mmty) of liquefied natural gas (LNG) to China Petroleum & Chemical Corp., aka Sinopec, in deals representing the largest supply agreement ever signed by a U.S. gas exporter. The 20-year deals, publicly announced on Thursday, also represent the largest supply…
Bio, Synthetic LNG Seen as Key to Super-Chilled Fuel’s Long-Term Role in Marine Sector
Renewable energy is likely to generate more marine fuels in the future, and natural gas will factor heavily into the mix, according to SEA-LNG COO Stephen Cadden. Cadden’s organization advocates for the use of liquefied natural gas (LNG) as a marine fuel. SEA-LNG promotes the economic and environmental benefits of LNG. The organization was founded…