LNG

With natural gas bulls finding solace in strong demand from exports even as winter weather continues to disappoint, futures recovered some of their recent losses in early trading Tuesday.  The January Nymex contract was up 4.5 cents to $2.350/MMBtu at around 8:45 a.m. ET. February was up 5.2 cents to $2.378. The overnight weather data…

Global natural gas prices remain strong coming off a week shortened by Christmas and heading into another with limited trading activity as the New Year holiday nears. The Dutch Title Transfer Facility (TTF) contract for February delivery finished the short week on Thursday at $6.321/MMBtu, while the UK’s National Balancing Point finished at $7.015 and…

FERC has approved a Marathon Petroleum Corp. subsidiary’s request to convert the Kenai liquefied natural gas (LNG) export terminal in Alaska to import operations.  Trans-Foreland Pipeline Co. LLC filed an application to import natural gas earlier this year at the terminal in Nikiski on the Kenai Peninsula. The facility began operating in 1969 and for…

After large swings the past three weeks, natural gas forward prices took a breather as moderate weather settled over the United States in between bouts of colder temperatures. January prices fell only 4.0 cents on average from Dec. 17-23, as did the balance of winter (January-March), according to NGI’s Forward Look. The rest of the…

Utility FortisBC Energy Inc. plans to double the truck loading capacity at its Tilbury Liquefied Natural Gas (LNG) Facility in Delta, British Columbia (BC), to meet growing customer demand. Tilbury has selected Clough as the general contractor to build two new loading bays at the terminal. The facility currently fills more than 1,000 LNG containers…

A roundup of news and commentary from NGI’s LNG Insight  European LNG imports were down 42% year/year over the last seven days, Tudor, Pickering, Holt & Co. said Wednesday. North Asian prices are pulling cargoes away from the continent, while warmer weather has dented demand. The forecast is growing chillier.  Vitol has reportedly sold an…

Natural gas futures plummeted Wednesday as weather models continued to seesaw, production increased, export cargoes were reportedly cancelled, and the latest government inventory print fell shy of market expectations. The January Nymex contract settled at $2.608/MMBtu, down 17.2 cents day/day. February fell 16.1 cents to $2.588. NGI’s Spot Gas National Avg., meanwhile, dropped 18.0 cents…

The UK would end government-funded financial support for overseas oil, natural gas and coal projects under a plan announced this month by Prime Minister Boris Johnson as the country continues to jockey for position in the global fight against climate change.  The policy would end taxpayer support for export finance, aid funding and trade promotion…

Global natural gas prices are soaring as the week gets underway amid increasing demand in Asia and colder weather in Europe. The Dutch Title Transfer Facility, the dominant price marker in Europe, hit its highest point in nearly two years during Tuesday trading. TTF is moving higher after falling last week amid lackluster heating demand,…