A roundup of news and commentary from NGI’s LNG Insight Henry Hub settled at a 25-year low on Thursday at $1.482, down 7.2% day/day, while the front-end of the Nymex forward curve collapsed after a 120 Bcf injection into storage. U.S. futures extended their losses in early trading Friday, but the July contract rolled off…
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Articles from LNG
Canada Dreams of Arctic LNG Gain U.S. Private Equity for Project Near Beaufort Sea
A 33-month northern hunt has found a U.S.-owned partner for reviving the last remains of formerly grand designs for natural gas development in the Canadian Arctic. Inuvialuit Regional Corp. (IRC), a Mackenzie Delta tribal enterprise, has recruited the Alberta arm of Texas-based private equity firm The Energy & Minerals Group (EMG) for a regional liquefied…
Headwinds Persist in European Gas Market, Keeping U.S. Exports Locked Out
Feed gas deliveries to U.S. liquefied natural gas (LNG) export terminals hovered near a three-week high on Thursday in a bright spot that’s likely to be short-lived as pain continues throughout the global market and American cargoes have largely been priced out of Europe where headwinds are keeping prices flat. The continent has been the…
KBR Exit from Energy Business to Benefit Other EPCs in U.S. LNG Build-Out
KBR Inc. is exiting the energy business to expand its core government and technology businesses, leaving a handful of North American liquefied natural gas (LNG) projects to seek out new engineering, procurement and construction (EPC) contractors. In an investor presentation earlier this month, CEO Stuart Bradie said the decision to exit “the blue-collar construction and…
Eerie Calm for Natural Gas Forwards Ahead of Record-Breaking Crash
Although natural gas forward prices steadied a bit during the June 18-24 period, the stage was set Thursday for a massive sell-off after the latest government storage data amplified fears of containment this fall. The Energy Information Administration (EIA) reported that inventories for the week ending June 19 rose by a much larger-than-expected 120 Bcf,…
Potential Triple-Digit EIA Build Weighs on Natural Gas Futures Early
Extending the previous session’s losses, natural gas futures were down several cents in early trading Thursday as the market prepared for the release of government storage data expected to show a plump triple-digit injection. The July Nymex contract was down 4.1 cents to $1.556/MMBtu at around 8:45 a.m. ET. Estimates have the U.S. Energy Information…
Optimism Waning for Steady LNG Demand Recovery, Poten Says
The chances for a sustained recovery in global natural gas demand are being threatened by economies that have been slow to start back up as countries inch out of lockdown and face a resurgence of Covid-19 cases in some parts of the world, according to shipbroker Poten & Partners. Industrial demand remains weak in key…
Shell CEO Sees Covid-19 as Opportunity for ‘Green Recovery,’ as Net-Zero Emissions Goals Advance
Royal Dutch Shell plc is not backing off its ambition to become a net-zero emissions energy operator by 2050, and in fact, management expects Covid-19 to accelerate the energy transition. In a recorded video for the global workforce, CEO Ben van Beurden said Tuesday there was an “opportunity of a green recovery” as the world…
July Natural Gas Steady as Traders Mull ‘Conflicting Forces’ of LNG Losses, Heat
With the market continuing to weigh summer heat against weakness in liquefied natural gas (LNG) export demand, natural gas futures were trading close to even early Wednesday. The July Nymex contract was up 0.5 cents to $1.642/MMBtu at around 8:45 a.m. ET. Front month natural gas prices remain “trapped” between “conflicting forces” as the potential…
The Offtake: LNG in Brief
A roundup of news and commentary from NGI’s LNG Insight Tellurian Energy Inc. has named Charif Souki as executive chairman. Souki co-founded the company in 2016 and had been serving as nonexecutive chairman. The company is looking to better leverage his “marketing expertise and relationships” as its Driftwood LNG export project in Louisiana has struggled…