Natural gas futures pulled back a few cents Wednesday as the bullish momentum generated by a recent stretch of strongly colder-trending forecasts showed signs of petering out. The December Nymex contract slid 3.4 cents to settle at $2.828/MMBtu after going as high as $2.891. January settled at $2.907, off 3.3 cents.
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Mexico Auditor Finds Widespread Inefficiencies in CFE
Mexican state-owned electric utility Comision Federal de Electricidad (CFE), long plagued by operational inefficiencies and financial losses, showed few signs of turning things around in 2018, according to a report by the government’s auditing body, the Auditoría Superior de la Federación (ASF).
More Early-Season Cold Fuels Further Natural Gas Futures Gains
Further cold trends for an already chilly early-season forecast helped extend a natural gas futures rally Tuesday, although analysts pointed to risks for a reversal given structural oversupply in the market. The December Nymex contract added 4.1 cents to settle at $2.862/MMBtu. January settled at $2.940, up 4.2 cents.
IMF Critical of Pemex Business Plan, Production Goals in Mexico Report
The 2019-2023 business plan of Mexican national oil company Petróleos Mexicanos (Pemex) presents an unrealistic picture of production growth and reserves replenishment over the coming years, according to a new report by the International Monetary Fund (IMF).
Sempra to Make FIDs on Mexico, U.S. LNG Projects Early Next Year
San Diego-based Sempra Energy expects to reach final investment decisions (FID) during the first half of next year for liquefied natural gas (LNG) expansion projects while it finishes construction of its second and third liquefaction trains at the Cameron, LA, LNG export site.
Natural Gas Futures Keep Building Momentum as Cold Seen Sticking Around Eastern U.S.
Further cold trends from the latest guidance kept the fire burning for natural gas futures prices Monday, extending last week’s gains for a market focused on early-season weather signals. The December Nymex contract settled 10.7 cents higher at $2.821/MMBtu after probing as high as $2.842. January picked up 9.6 cents to settle at $2.898, while February settled 8.7 cents higher at $2.849.
Colder Forecast Trends Rally Natural Gas Futures as Models Differ on Mid-November Pattern
Early-winter volatility continued in the natural gas futures market Friday as colder-trending weather data helped launch a swift midday rally. After trading as low as $2.575/MMBtu, the December Nymex contract went on to settle near the session’s high at $2.714, up 8.1 cents on the day. January picked up 7.0 cents to settle at $2.802.
TC Energy Postpones Villa de Reyes Pipeline In-Service Date
TC Energy Corp. now expects the phased entrance into service of the 886 MMcf/d Tula-Villa de Reyes pipeline in Mexico to occur in early 2020, CEO Russell Girling said Friday during a third-quarter earnings call.
Natural Gas Bleeds Red Amid Bearish Storage Data, Warmer Mid-November Weather
After a solid run that lifted December natural gas prices nearly a quarter over the last three days, a bearish government storage stat and weak cash market stopped the rally dead in its tracks. The December Nymex gas futures contract went on to settle Thursday at $2.633, down 5.8 cents. January fell 4.9 cents to $2.732.
NGI The Weekly Gas Market Report
COLUMN: The Great Opportunities, and Many Challenges, of Selling Gas to the Mexican Market
Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column as part of a regular series on understanding this process, written by Eduardo Prud’homme.