Natural gas futures climbed even higher on Friday, extending to six days a furious demand-driven rally that sent the prompt month to a close above $4.00 for a second session. The August Nymex contract rose 5.7 cents day/day and settled at $4.060/MMBtu, its highest mark since 2018. September gained 6.0 cents to $4.042. NGI’s Spot…
Mexico
Articles from Mexico
Mexico’s CFE in Dispute with WhiteWater Midstream Over Natural Gas Contracts
Mexican state utility Comisión Federal de Electricidad (CFE) said it is looking into possible corruption related to natural gas contracts with WhiteWater Midstream LLC. CFE said that natural gas contracts signed in 2016 and 2017 under the previous Mexican administration are under investigation on both sides of the border for potential corrupt practices including influence…
BP Delivers its First Carbon Offset LNG to Mexico
Mexico received its first cargo of carbon offset liquefied natural gas (LNG) last week, according to BP plc and Sempra. Subsidiaries of the firms inked a contract for delivery of the cargo to Sempra’s Energía Costa Azul (ECA) terminal on Mexico’s Pacific Coast. It was expected to arrive last Friday (July 16). Greenhouse gas (GHG)…
August Natural Gas Futures, Cash Prices Cruise Higher
Natural gas futures on Monday cruised higher for a second consecutive session as forecasts pointed to stronger weather-driven demand over the back half of July. The August Nymex contract advanced 10.5 cents day/day and settled at $3.779/MMBtu. The prompt month had gained 6.0 cents on Friday to close out trading last week. The September contract…
U.S. Natural Gas ‘Off to the Races’ on Strong LNG, Mexico Demand and Producer Discipline
U.S. natural gas demand and prices are “off to the races,” driven by a convergence of supply and demand-related factors as the world emerges from Covid-19, IHS Markit’s Jack Weixel, senior director, said Monday. Liquefied natural gas (LNG) exports to the global market, pipeline exports to Mexico, and capital discipline by upstream producers all have…
Sempra, BP Procure Mexico’s First Carbon Offset LNG Cargo
Mexico was set to receive its first cargo of carbon offset liquefied natural gas on Friday (July 16), according to a Thursday announcement by BP plc and Sempra. Subsidiaries of the firms inked a contract for delivery of the cargo to Sempra’s Energía Costa Azul (ECA) terminal on Mexico’s Pacific Coast. Greenhouse gas (GHG) emissions…
Natural Gas Futures Find Footing As Supply Looks Light
Natural gas futures rebounded on Friday, following three straight daily losses, as traders mulled the potential for paltry levels of stockpiles ahead of the withdrawal season later this year. The August Nymex contract gained 6.0 cents day/day and settled at $3.674/MMBtu. September advanced 5.7 cents to $3.658. NGI’s Spot Gas National Avg., however, fell 13.5…
Natural Gas Futures Rally on Weekend Forecast Shift; ‘Formidable’ Resistance Seen at $3.81-3.82
A hotter shift in forecasts over the weekend helped spark a rally for natural gas futures in early trading Monday. The August Nymex contract was up 7.9 cents to $3.753/MMBtu at around 8:50 a.m. ET. Forecasts increased demand expectations over the weekend by showing hotter temperatures to close out the month of July, according to…
Mexico Natural Gas Market Spotlight: Sur de Texas-Tuxpan Pipeline Poised to Become Main Import Option
The dynamics of the nascent Mexican natural gas market are shifting once again with the 2.6 Bcf/d Sur de Texas-Tuxpan marine pipeline on the cusp of becoming the main source of supply into Mexico. On July 13, the marine pipeline transported 1.339 Bcf into Mexico’s southeast, slightly below the 1.439 Bcf seen on the Ramones…
Natural Gas Futures Fall Back As July Cooling Demand Eases
Natural gas futures rebounded early Wednesday, as liquefied natural gas (LNG) levels bounced back and reassured markets of robust export demand. Still, bearish tilts in domestic weather outlooks and estimates for a higher storage injection put downward pressure on futures in afternoon trading. The August Nymex contract ultimately fell 3.6 cents day/day and settled at…