Traders looked past a tilt toward cooler weather in new forecasts and focused instead on near-term heat and expectations for both strong domestic demand and U.S. exports over the balance of summer, sending natural gas futures higher on Monday. At A Glance: Traders zero in on near-term heat LNG demand to surge further Outlooks call…
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Shell Signs Industry’s First Term Contract to Supply Carbon-Neutral LNG
Royal Dutch Shell plc said Monday that it has signed the world’s first term contract to supply carbon-neutral liquefied natural gas (LNG) to a PetroChina Co. Ltd. subsidiary. Shell said it signed a five-year agreement with PetroChina International Co. Ltd. (PCI). It did not say how much carbon-neutral LNG would be supplied or when the…
Tellurian Terminates $700M Deal with TotalEnergies for Driftwood LNG
A deal with French supermajor TotalEnergies SE that would have injected up to $700 million into Tellurian Inc.’s planned Driftwood liquefied natural gas (LNG) export facility in Louisiana has fallen through after the project developer failed to meet a key deadline for sanctioning the project. In a filing with the U.S. Securities and Exchange Commission,…
Natural Gas Futures Called Slightly Higher as Market Shrugs Off ‘Decidedly Bearish’ Weather Trends
Bolstered by relatively strong cooling demand overall, natural gas futures shrugged off bearish trends in the weather outlook over the weekend to probe slightly higher in early trading Monday. The August Nymex contract was up 1.3 cents to $3.687/MMBtu at around 8:50 a.m. ET. The natural gas futures market faced mixed signals as of early…
New Fortress Secures LNG Supplies Through 2027
New Fortress Energy Inc. has reached an agreement for liquefied natural gas (LNG) supply through 2027 for most of its import terminals and power generation facilities. The company has nine import terminals in operation or under development in the Carribean, Central America, Mexico and South America. It imports LNG in underserved markets where it’s utilized…
After Days-Long Rally, Natural Gas Forward Prices Retreat but Storage Concerns Simmering
After a massive rise in the prior week, natural gas forwards softened a bit in the trading period ending July 7. Cooler weather and returning production contributed to a 7.0-cent decline in August prices, with small decreases extending through the remainder of summer (August-October), according to NGI’s Forward Look. Winter forward prices also fell, but…
Freeport LNG Eyes 2022 to Sanction Fourth Train as Market Undergoes ‘Total Transformation’
The developers of the Freeport liquefied natural gas (LNG) export facility in Texas are targeting a mid-2022 final investment decision (FID) and a 2026 startup for the plant’s fourth train as customers indicate interest for long-term contracts. However, CEO Michael Smith told NGI last week that Freeport LNG will maintain a patient approach when it…
Natural Gas Futures Advance Early as Analysts Highlight Tightness in EIA South Central
As analysts continued to mull the balance implications of a government inventory report that surprised to the bullish side of market expectations, natural gas futures probed higher in early trading Friday. The August Nymex contract was up 3.2 cents to $3.720/MMBtu at around 8:50 a.m. ET. The Energy Information Administration (EIA) on Thursday reported a…
Mexico Natural Gas Market Spotlight: July Imports Slip on Lower Demand
Imports of natural gas from the United States continue to dominate Mexico’s natural gas supply, but they have dropped slightly this month on lower demand. To date this month, Wood Mackenzie reported that Mexico imports from the United States were 6.7 Bcf/d, 2% lower than in June. NGI calculations had the 10-day average through Thursday…
LNG Trading Continued to Drive Gas-on-Gas Competition Last Year, IGU Says
Natural gas buying at prices linked to dominant benchmarks like Henry Hub, the Japan Korea Marker (JKM) and the Dutch Title Transfer Facility (TTF) increased last year, again taking share from deals linked to oil-indexed contracts, according to the International Gas Union (IGU). Gas-on-gas (GOG) competition’s share of the global market last year reached 49.3%,…