NGI Mexico GPI

BREAKING: U.S. EIA reports injection of 120 Bcf natural gas storage for the week ending June 19 Stronger heat-driven demand has yet to materialize, while LNG remains soft Analysts expect EIA to report a triple-digit storage build Spot prices advance as power burns pick up Natural gas futures traded in a narrow range most of…

For a second consecutive day, natural gas futures gave up ground Tuesday on a weakening heat outlook Increased power demand is needed as production shows signs of increasing and liquefied natural gas exports remain soft Spot prices also dropped as enthusiasm chilled on cooler weather Natural gas futures gave up more ground Tuesday on a…

Pipeline natural gas exports to Mexico from the United States averaged an estimated 5.4 Bcf/d during the first half of June, up from about 4.7 Bcf/d for the whole month of May, according to an analysis by Genscape Inc. The June estimate “includes the 6 Bcf/d seen on June 10, the third-highest volume ever registered…

A midday weather outlook disappointed, with reduced cooling degree days News of significant LNG cargo cancellations also dragged on prices Bolstered by current heat waves, spot prices soared An early rally Monday on expectations for increasing heat across much of the Lower 48, including temperatures in excess of 100 over swaths of the West Coast,…

Mexico’s upstream oil and gas regulator, Comisión Nacional de Hidrocarburos (CNH), last Thursday approved drilling the Xakpún-1EXP deepwater exploration well by a subsidiary of China National Offshore Oil Corp., aka CNOOC. The J-shaped well plans to target light oil resources in the Gulf of Mexico’s Wilcox formation to a  total depth of 6,346 meters (20,820…

 Mexico’s Comisión Federal de Competencia Económica (COFECE), the federal economic competition commission, has asked the country’s Supreme Court to intervene on constitutional grounds against new power sector rules imposed by energy ministry Sener. The rules, published through an order in the official gazette on May 15, seek to limit the entry of renewable energy projects…

Natural gas futures traded in a narrow range of gains and losses Thursday and ultimately finished flat after traders absorbed a relatively bullish storage report that offset weather and demand uncertainty. The July Nymex contract settled at $1.638/MMBtu. August rose one-tenth of cent to $1.728.

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process.

Forecasts for modestly increasing heat and a lower inventory build report offset enduring uncertainty about liquefied natural gas (LNG) demand, helping natural gas futures post gains Wednesday and ending a drubbing that cost the July contract nearly 20 cents over the prior three trading sessions.