Natural gas production by Mexican national oil company Petróleos Mexicanos (Pemex) averaged 3.763 Bcf/d in February, up from 3.696 Bcf/d in January.
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Natural Gas Futures Slip Ahead of Potentially Mild April; Waha Stays Negative
Forecasts showing comfortable temperatures taking hold next month helped pressure natural gas futures prices lower Tuesday. In the spot market, large gains in West Texas still couldn’t lift the region completely out of negative territory following Monday’s unprecedented lows; the NGI Spot Gas National Avg. climbed 2.5 cents to $2.470/MMBtu.
Traded Natural Gas Volumes In Mexico Up 15% in February
Natural gas marketers in Mexico transacted 284 deals for a total average volume of 6.321 Bcf/d in February, up from 153 deals for 5.496 Bcf/d in the same month a year ago.
Unprecedented Lows in West Texas; Range-Bound Natural Gas Futures Finish Near Even
Natural gas futures finished close to even Monday as traders mulled looser balances on the one hand and a supportive storage deficit on the other. In the spot market, West Texas discounts shattered historical precedent as prices averaged well into negatives region-wide; the NGI Spot Gas National Avg. climbed 1.5 cents to $2.445/MMBtu.
The Birth of Sistrangas: Isolated Network to National Pipeline System
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. This is the third in the series.
Support Tested as Natural Gas Futures Fall; West Texas Cash Gains
Natural gas futures capped off the week on a down note Friday, dropping to the bottom of the recent trading range amid an underwhelming demand outlook in the near-term. In the spot market, shoulder season conditions inspired discounts throughout the Lower 48, while extreme weakness in West Texas prices improved marginally; the NGI Spot Gas National Avg. fell 6.0 cents to $2.430/MMBtu.
Argentina, Chile Sign New Seasonal Natural Gas Flow Agreements With Full-Year Flow Starting in 2021
Argentina will this year again send natural gas to Chile from September to May, 2020, Chile’s energy minister Susana Jimenez said Wednesday; but by 2021, natural gas from Argentina will flow to its neighbor throughout the entire year, she said.
Natural Gas Futures Steady After On-Target Natural Gas Storage Data; West Texas Cash Lowers the Floor
An on-target Energy Information Administration (EIA) storage report, along with a mix of bearish and bullish macro factors heading into the shoulder season, left the natural gas futures market stuck in neutral Thursday.
New Infrastructure Said Ready to Accelerate Mexico Gas Market Growth
The pending completion of several natural gas infrastructure projects in Mexico should help accelerate the local market’s development, according to Talanza Energy Consulting’s David Rosales, midstream and downstream partner.
Natural Gas Futures Slide as Production Recovers from Freeze-Offs
Recovering production volumes and weaker demand amid the transition to spring helped pressure natural gas futures lower Wednesday as the front month continued to bounce around a tight trading range.