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Natural gas cash prices rallied along with futures through the first three sessions of the week on supply concerns and remarkably strong cooling demand by mid-May standards. The result: NGI’s Weekly Spot Gas National Avg. for the May 16-20 period jumped 80.5 cents to $7.920. Supported by weather-driven demand and steady calls for U.S. exports,…

Natural gas futures gave up ground Friday as buyers moved to the sidelines after a furious rally earlier in the week. The June Nymex gas futures contract declined 22.5 cents day/day and settled at $8.083/MMBtu. Still, it gained 5.5% for the week. July shed 22.2 cents on Friday to $8.178. At A Glance: Futures tumble…

French utility Engie SA, which recently constructed and began operations on the Cuxtal I natural gas pipeline in the Yucatan peninsula, sees “incredible development potential” in the southeast region of Mexico, the company’s COO, Ana Laura Ludlow, told NGI’s Mexico GPI. Engie is also ready to start work on expanding capacity on the Mayakan pipeline…

Driven in part by liquefied natural gas (LNG) exports, demand growth will outpace supply gains this summer, leading to higher prices year/year, FERC said in its 2022 outlook on summer energy markets. Compared with summer 2021 levels, total domestic dry natural gas production is expected to increase 3.4% this summer, while total consumption is projected…

The U.S. natural gas rig count climbed one unit to 150 for the week ended Friday (May 20), while Texas led a surge in oil drilling that lifted the combined U.S. tally 14 units higher to 728, according to the latest figures from Baker Hughes Co. (BKR). Alongside the one natural gas-directed rig, 13 oil-directed…

Finland’s state-owned energy company Gasum said Friday that Russia would soon cut off the country’s main source of natural gas supplies, forcing it to find alternatives. Russia’s Gazprom PJSC informed the company that it would stop delivering natural gas supplies to Finland beginning Saturday (May 21). Gazprom said it was halting exports to the country…

HOUSTON (ICIS) — Asian LNG spot prices have fallen this week, with the July ICIS East Asia Index (EAX) down more than 12% on 19 May from one week ago. The softness in prices, compared with levels seen just a month ago, could attract additional buyers into the market. New demand will be weather dependent…

Laredo Petroleum Inc. has locked in pricing for most of its oilfield services operations through the rest of this year to counter inflation, but costs for the diesel fuel and chemicals needed to sustain them remain harder to predict. “We worked with our service partners to lock in 85% of expected drilling, completions, equipment and…

Natural gas forwards rallied throughout the trading period ending May 18 as early-season heating demand, rising exports and production declines stoked supply concerns. June fixed prices jumped an average 64.0 cents, as did the balance of summer (June-October), according to NGI’s Forward Look. The winter 2022-2023 package (November-March) bounced an impressive 58.0 cents on average…