The liquid fuels storage business has emerged as a primary growth engine for Infraestructura Energética Nova (IEnova) as global refiners seek to offload their products to a hungry Mexican market.
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Storage, Heat Help August Natural Gas Futures Rally Ahead of Expiration; SoCal Drops
The front month natural gas futures contract rallied ahead of expiration Friday, with potential August heat and a tight storage picture offering support in a market still heavily weighed down by production. In the spot market, most regions posted discounts on three-day deals, including in the sweltering California and Desert Southwest; the NGI National Spot Gas Average dropped 21 cents to $2.70/MMBtu.
AMLO’s Self-Sufficiency Agenda for Mexico Energy Sector Creates Risks for Pemex, Moody’s Says
The next Mexican administration’s focus on energy self-sufficiency could pose risks for national oil company Petroleos Mexicanos (Pemex), according to a recent report by Moody’s Investors Service.
Another Bullish EIA Report Not Enough for Natural Gas Market Focused on Production
With bearish production pressuring prices, the natural gas futures market brushed aside another leaner-than-expected build from the Energy Information Administration (EIA) Thursday that showed deficits growing as August approaches. In the spot market, Southern California and Desert Southwest points continued to trade at elevated levels as conditions in the region remain hot; the NGI National Spot Gas Average finished even at $2.91/MMBtu.
Environmental Challenge to FERC Review of Trans-Pecos Pipeline Falls Short
A federal appeals court panel recently rejected an environmental group’s objection to FERC’s approval last year of facilities to carry natural gas from West Texas to Mexico, saying the regulatory agency had fulfilled its obligation to review the project’s impacts.
Natural Gas Futures Gain Ahead of EIA Report as Deficits Seen Growing; SoCal Moderates
Natural gas futures rallied Wednesday ahead of a government storage report expected to show deficits increase for the third straight week, while the potential return of heat to the East in August and a small dip in pipeline production estimates also offered support.
Mexico Natural Gas Demand Factoring into Kinder Morgan’s Growth
Kinder Morgan Inc. could have more to say about moving forward with plans for its second greenfield pipeline to serve the Permian Basin in the coming months as it works to alleviate takeaway constraints and match its customers with attractive markets south of the Texas border.
Storage Concerns, Warmer Trends in August Support Natural Gas Futures; SoCal Pulls Back
Natural gas futures climbed Tuesday as storage concerns and warmer forecast trends for August helped prices bounce off support. In the spot market, one day after posting its highest average in at least a decade on a combination of sweltering temperatures and infrastructure constraints, SoCal Citygate pulled back to post a slightly less astronomical premium; the NGI National Spot Gas Average fell 29 cents to $2.93.
Few Clear Signals for Mexico’s Fledgling Natural Gas Market as AMLO Prepares to Take Office
Following the decisive and historic victory of Andres Manuel Lopez Obrador in the July 1 presidential election, Mexico’s natural gas sector is in wait-and-see mode as the dust settles from the campaign and the new administration prepares to take office.
Natural Gas Futures Pull Back as Heat Wave Drives Highest SoCal Spot Prices Since 2008
Triple-digit heat Monday led to the most expensive natural gas spot trades in Southern California going back to at least 2008, as a volatile mixture of elevated gas-fired electric demand and ongoing supply constraints blew the roof off of prices. Largely driven by gains in California and the Desert Southwest, the NGI National Spot Gas Average surged 51 cents to $3.22/MMBtu.