LNG

Natural gas futures on Wednesday crept lower, following a steep drop the previous day, as traders mulled weather-driven demand concerns, stagnated liquefied natural gas (LNG) levels, and the potential for a higher storage injection with the federal government’s pending report Thursday morning.   The November Nymex contract shed 3.4 cents day/day and settled at $2.527/MMBtu. The…

Bechtel Corp. has been recruited as a candidate to build the delayed liquefied natural gas (LNG) export terminal on the Atlantic coast of Nova Scotia. Project sponsor Pieridae Energy Ltd. said Wednesday that Bechtel accepted an assignment to review the eight-year-old export proposal and present an execution plan by March 31. The agreement also requests…

A fire that broke out Monday at Equinor ASA’s Hammerfest liquefied natural gas (LNG) terminal in northern Norway has forced the company to shut down the plant indefinitely, compounding unplanned supply outages elsewhere in the world.  The fire broke out in one of the turbines that power the 4.3 million metric tons per year (mmty)…

Baker Hughes Co. said Tuesday it will supply Qatar Petroleum gas-powered refrigerant units for an expansion of the Middle Eastern country’s liquefaction capacity to 110 million metric tons/year (mmty) from 77 mmty by 2025. The Houston-based oilfield services giant said it is among the largest liquefied natural gas (LNG) deals it has secured in the…

Natural gas futures dipped even lower Monday after posting a double-digit decline to close out the prior week, as weather-driven demand was forecast to fade and the October contract rolled off the board. Futures dropped early, swung back into positive territory by early afternoon and then dropped again to finish in the red. The October…

The heightened uncertainty plaguing gas markets so far in 2020 because of Covid-19 is expected to carry through the winter season, but a bright spot is emerging for the United States as liquefaction is expected to resume full operations by November with growing demand in Europe and Asia. In a webinar Thursday discussing the outlook…

Feed gas started trickling into Sempra Energy’s Cameron liquefied natural gas (LNG) export facility in Louisiana over the weekend, a little more than a month after it was shut down before Hurricane Laura made landfall.  About 12 MMcf of natural gas was delivered to the facility on Sunday, with the same amount scheduled for Monday,…

A milder weather forecast and a mixed outlook in terms of production and export demand helped send natural gas futures lower in early trading Monday. The expiring October Nymex contract was off 10.9 cents to $2.030/MMBtu at around 8:50 a.m. ET. November futures were down 9.1 cents to $2.716. Weather-driven demand expectations decreased over the…

Blackstone Group Inc. has closed the sale of its 42% stake in Cheniere Energy Inc.’s master limited partnership (MLP) in a transaction valued at $7 billion. The private equity firm sold the units it held in Cheniere Energy Partners LP (CQP) to affiliate Blackstone Infrastructure Partners and Brookfield Infrastructure. The firm first invested $1.5 billion…