California’s Sempra Energy is looking to develop a second liquified natural gas (LNG) project in Mexico called Vista Pacifico at Topolobampo in Sinaloa state. Sempra LNG regional vice president Brian Lloyd said last week the project would import natural gas from U.S. shale basins for re-export as LNG. Vista Pacifico would have an export capacity…
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Weekly Natural Gas Prices Lose Luster Amid Mild Temperatures in Key Regions
In an abbreviated trading period ahead of the long Memorial Day weekend, weekly cash prices dipped lower amid mild temperatures throughout the nation’s midsection and Northeast. With both heating and cooling demand light on a national level, NGI’s Weekly Spot Gas National Avg. for the May 24-27 period fell 6.0 cents to $2.685. Gas traded…
July Natural Gas Futures Rally to Close Out Volatile Week; Cash Prices Cruise
Natural gas futures recovered on Friday along with stronger export volumes and increased expectations for national cooling demand in June. The July Nymex contract rose 2.8 cents day/day and settled at $2.986/MMBtu. August gained 2.9 cents to $3.007. In its debut as the front month on Thursday, the July contract had dropped 6.9 cents following…
Sempra’s Energia Costa Azul LNG Said ‘Prime Opportunity’ for Rockies Gas Producers
Energy producers and advocates in the Rockies region are looking south of the border for Pacific Coast market options as the outlook for a Western U.S. export facility appears increasingly unlikely. With development of the Jordan Cove liquefied natural gas (LNG) project in Oregon on pause following regulatory setbacks, the Sempra Energy-led Energia Costa Azul…
Natural Gas Forwards Ripe for Further Momentum, but Lack of Heat, Hefty Storage Builds Pushing Back
With hot weather starting to penetrate parts of the United States and export demand expected to return to near-record levels following spring maintenance, natural gas forward prices strengthened for the trading period ending May 26, according to NGI’s Forward Look. Gains were weighted to the front of the curve, with June prices rising an average…
Venture Global Unveils CCS Plans for Louisiana LNG Facilities
Privately held Venture Global LNG Inc. has unveiled plans to capture and sequester up to 1 million tons of carbon dioxide (CO2)/year from its sites in Louisiana, making it the latest liquefied natural gas (LNG) developer to turn to carbon capture and sequestration (CCS) as a way to lower its emissions profile. Arlington, VA-based Venture…
July Natural Gas Futures Contract Slumps to Kick Off Prompt Month; Cash Prices Drop
Dragged lower after a bearish government inventory report, natural gas futures plunged on Thursday after rallying more than 7.0 cents into the expiration of the June contract a day earlier. The July Nymex contract, in its debut as the front month, dropped 6.9 cents day/day and settled at $2.958/MMBtu. It had closed above $3.00 on…
Natural Gas Forward Prices Higher, but Weather and Storage Throwing Cold Water on Rally
With hot weather starting to penetrate parts of the United States and export demand expected to return to near-record levels following spring maintenance, natural gas forward prices strengthened for the trading period ending May 26, according to NGI’s Forward Look. Gains were weighted to the front of the curve, with June prices rising an average…
Shell Vows to Appeal Dutch Ruling to More Quickly Slash CO2
Royal Dutch Shell plc is vowing to appeal what it called a “disappointing court decision” after a Dutch court ruled the energy major had to reduce its carbon emissions in 2030 by 45%, sharply more than planned. Shell has set a goal to reduce its carbon dioxide (CO2) emissions by the end of the decade…
Tellurian Cuts SPA to Supply Gunvor in Potential Step Forward for Driftwood LNG
Tellurian Inc. said Thursday it has signed a deal to supply a subsidiary of global commodities trader Gunvor Group Ltd. with 3 million metric tons/year (mmty) of liquefied natural gas (LNG) from the proposed Driftwood LNG export terminal in Louisiana. The announcement was a major step forward for the 27.6 mmty facility proposed near Lake…