NGI Mexico GPI

TC Energy, CFE Sanction Mexico’s 1.3 Bcf/d Marine Pipeline Extension; Possible Start in 2025

TC Energy, CFE Sanction Mexico’s 1.3 Bcf/d Marine Pipeline Extension; Possible Start in 2025

Canada’s TC Energy Corp. and Mexico’s Comisión Federal de Electricidad (CFE) have reached a final investment decision (FID) to build a 444-mile underwater natural gas pipeline. The 1.3 Bcf/d, $4.5 billion Southeast Gateway Pipeline would originate onshore in Tuxpan, Veracruz. It then would proceed offshore, making landfall at Coatzacoalcos, Veracruz and Dos Bocas, Tabasco. Dos…

August 5, 2022
Freeport LNG’s Possible Return Turns Around North American Natural Gas Futures Momentum – Mexico Spotlight

Freeport LNG’s Possible Return Turns Around North American Natural Gas Futures Momentum – Mexico Spotlight

News on Wednesday that around 2 Bcf/d of liquefaction capacity at Freeport LNG in Texas would be back online as early as October reawakened the bulls in the North American natural gas futures market. The September New York Mercantile Exchange (Nymex) contract on Wednesday surged 56.0 cents day/day to close at $8.266/MMBtu. October futures jumped…

August 4, 2022
Natural Gas Futures Rally on Freeport News; Cash Mixed

Natural Gas Futures Rally on Freeport News; Cash Mixed

Natural gas futures were humming along most of Wednesday, with prices moving in and out of positive territory amid little change in the weather forecast or production data. In the last half of trading, however, the September Nymex exploded higher as details emerged regarding Freeport LNG’s potential return. At the close, the prompt month had…

August 4, 2022
Europe Top Destination for U.S. LNG in 1Q2022, but Asian Restocking Could Boost Buying

Europe Top Destination for U.S. LNG in 1Q2022, but Asian Restocking Could Boost Buying

Europe replaced Asia as the top destination for LNG exports from the United States in the first quarter of 2022 while pipeline gas exports to Mexico continued to grow, according to the latest trade scorecard compiled by the U.S. Department of Energy’s gas regulation division. France, Spain, the United Kingdom, Turkey and the Netherlands combined…

August 3, 2022
Cooler August Forecast Pressures Natural Gas Futures, Southeast Cash Plunges

Cooler August Forecast Pressures Natural Gas Futures, Southeast Cash Plunges

After failing to sustain earlier decreases during the prior trading session, natural gas futures resumed their slide on Tuesday as two major weather models pointed to easing heat in the coming weeks. The September Nymex gas futures contract plunged 57.7 cents to $7.706/MMBtu. October futures tumbled 56.2 cents to $7.698. Spot gas prices tacked on…

August 3, 2022
Mexico Natural Gas Production Up in June, Led by Quesqui, Ixachi Fields

Mexico Natural Gas Production Up in June, Led by Quesqui, Ixachi Fields

Natural gas production in Mexico averaged 4.04 Bcf/d in June, up from 3.87 Bcf/d in the same month a year ago, according to the latest data from upstream regulator Comisión Nacional de Hidrocarburos (CNH). State oil company Petróleos Mexicanos (Pemex) supplied 3.8 Bcf/d of the total, up from 3.66 Bcf/d in the year-ago month. Production…

August 2, 2022
Unrelenting Heat Spurs Bounce for Natural Gas Futures; Cash Falls on Wet Near-Term Outlook

Unrelenting Heat Spurs Bounce for Natural Gas Futures; Cash Falls on Wet Near-Term Outlook

Armed with a cooling weather forecast and a new production high over the weekend, natural gas traders initially sent September futures lower as the calendar flipped to August. However, midday weather models showing more heat for the East Coast quickly reversed the course for September Nymex gas futures. The prompt month settled 5.4 cents higher…

August 2, 2022
Mexico’s Pemex Turns to Deepwater, Flaring Reduction to Improve Natural Gas Outlook

Mexico’s Pemex Turns to Deepwater, Flaring Reduction to Improve Natural Gas Outlook

Mexico’s state oil giant Petróleos Mexicanos (Pemex) appears poised to increase its natural gas output as it begins development at the Lakach deepwater field and works to curb the longtime scourge of flaring. “We seek to progressively reduce the level of gas sent into the atmosphere,” executives said last week during a call to review…

August 1, 2022
September Natural Gas Futures Find Path Forward Amid Blazing Heat

September Natural Gas Futures Find Path Forward Amid Blazing Heat

Natural gas futures fluctuated again Friday but ultimately forged ahead as weather forecasts pointed to above-average cooling demand in August. The September Nymex gas futures contract gained 9.5 cents day/day and settled at $8.229/MMBtu. It had shed 42.0 cents in its debut as the prompt month a day earlier, when price swings also defined trading.…

August 1, 2022
September Natural Gas Futures Contract Debuts with Weak Start; Spot Prices Sink

September Natural Gas Futures Contract Debuts with Weak Start; Spot Prices Sink

Natural gas futures teetered between modest gains and losses early and then dropped Thursday, despite a weak storage injection and lower production that left markets to mull the possibility of light supplies for the coming winter. In its first session as the prompt month, the September Nymex gas futures contract settled at $8.134/MMBtu, down 42.0…

July 29, 2022
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