LNG

Japan’s largest power producer, Jera Co. Inc., is acquiring a 25.7% stake in the Freeport liquefied natural gas (LNG) export terminal in Texas for $2.5 billion as it looks to secure more of the super-chilled fuel amid skyrocketing prices and to help meet climate targets. Investment firm Global Infrastructure Partners (GIP), which acquired the stake…

The Egyptian government’s Suez Canal Authority (SCA) reported it plans to soon raise tolls on ships transiting the key waterway linking the Mediterranean and Red seas — with two notable exceptions: cruise ships and liquefied natural gas (LNG) carriers. According to SCA, the 6% hike year/year takes effect in early Feb. 2022. Cruise ship and…

Weekly natural gas cash prices slumped amid unseasonably mild temperatures and light heating demand throughout the eastern United States. NGI’s Weekly Spot Gas National Avg. for the Nov. 8-12 period dropped 59.5 cents to $4.690. Conditions were comfortable throughout the Lower 48 early in the week and, while colder air blew into the Upper Midwest…

The American Petroleum Institute (API) has updated its 20-year-old “foundational reference” for oil and natural gas operators to use in reporting greenhouse gas (GHG) emissions The newly unveiled fourth edition of the Compendium of GHG Emissions Methodologies for the Natural Gas and Oil Industry includes expanded methodologies for liquefied natural gas, as well as carbon…

A persistently mild forecast continued to grip U.S. natural gas forwards markets during the Nov. 4-10 period, extending losses across the curve as supply neared pre-pandemic highs. December prices plunged an average of 97.0 cents, with losses upward of $2.00/MMBtu in the Northeast amid the comfortable weather pattern and weak cash pricing, NGI’s Forward Look…

Banks that lend to natural gas and oil producers have substantially raised their price expectations for both commodities, according to the latest biannual Energy Bank Price Deck Survey conducted by Haynes and Boone LLP. The law firm conducts spring and fall editions of the survey each year to capture the expectations of energy banks for…

Tellurian Inc. is in no hurry to sell all of the 27 million metric tons/year (mmty) of liquefied natural gas (LNG) capacity from the proposed Driftwood export project in Louisiana even though there’s an opportunity to do so, according to CEO Octávio Simões. The company has agreed to supply 9 mmty of LNG from the…

Chevron Corp. said it plans to spend $29 million to implement lower carbon projects in Western Australia, in part to offset penalties for failing to capture enough emissions from the Gorgon natural gas export project. Chevron Australia operates and holds a 47.3% stake in the Gorgon liquefied natural gas (LNG) facility. The funding to reduce…

Despite a benign government inventory report, natural gas futures fell a fourth consecutive session on Wednesday as traders contemplated unfavorable mid-range weather outlooks and the potential for a pullback in demand for U.S. exports. The December Nymex contract settled at $4.880/MMBtu, down 9.9 cents day/day and near a two-month low. January fell 9.6 cents to…