With excess storage inventories continuing to hang over the market through the shoulder season, natural gas forwards declined notably at the front of the curve for most regions during the April 18-24 trading period, data from NGI’s Forward Look show. May fixed prices at benchmark Henry Hub exited the period at $1.653/MMBtu, down 6.1 cents…
NGI The Weekly Gas Market Report
Articles from NGI The Weekly Gas Market Report
Hammerfest, Freeport Outages Send Global Natural Gas Prices Higher – Three Things to Know About the LNG Market
NO. 1: A gas leak at the Hammerfest LNG export terminal in Norway that occurred during maintenance has shut the plant down until Friday. The facility, which is operated by Equinor ASA was evacuated Tuesday, and the leak has since been stopped. The cause is under investigation. Hammerfest is Europe’s only large-scale export terminal. It…
Range Resources Sees Strong Natural Gas Demand, Keeps Production Steady
Range Resources Corp. kept natural gas production steady through the first quarter, even as others pulled back, and it expects to maintain the same pace through 2024. The Appalachian Basin pure play’s executives reiterated to analysts during a call to discuss first quarter earnings on Wednesday that they intend to hold output flat this year.…
Navigating the New LNG Regulatory Landscape – Listen Now to NGI’s Hub & Flow
Click here to listen to the latest episode of NGI’s Hub & Flow podcast. Neil Chatterjee, a former FERC chairman and commissioner, joins NGI’s Jamison Cocklin, managing editor of LNG, to discuss the political and regulatory aspects of President Biden’s pause on authorizing new liquefied natural gas export projects. Chatterjee, an environmental and energy attorney…
Premium Too High for Customers Requesting Renewable Fuels, Natural Gas Suppliers Say
Natural gas end users are increasingly focused on sustainability and have shown a keen interest in the availability of low carbon fuel options. Still, the question often arises – are they willing to pay a premium? At the recent LDC Gas Forums Southeast in Ponte Vedra Beach, FL, executives of local distribution companies and natural…
Baker Hughes CEO Heralds ‘The Age of Gas,’ Touts LNG as Climate Solution
The world’s energy companies are becoming more pragmatic in their approach to reaching net-zero emissions and Baker Hughes Co.’s customers plan to boost their natural gas exposure in the coming years, CEO Lorenzo Simonelli said. It is “becoming clearer just how complex the undertaking is for the transition of the world’s energy ecosystem,” Simonelli said…
Freeport LNG Reports Second Train 3 Outage in Two Weeks as Maintenance Continues
Freeport LNG Development LP has reported another outage of its third train, currently the only one not under extensive maintenance at its Texas terminal, days after production appeared to resume, according to pipeline data and regulatory filings. The firm told Texas environmental regulators the unit experienced a system trip on Tuesday afternoon that lasted until…
Gulf Coast LNG Construction Milestones Mount, Foreshadowing Growing U.S. Natural Gas Demand
The outlook for added feed gas demand in the coming months is beginning to firm, portending a possible tight supply balance next year. Earlier in the week, Cheniere Energy Inc. asked FERC for permission to connect the first train of its Stage 3 expansion at Corpus Christi to power and gave an update of its…
Mexico’s Sheinbaum Promises Energy Continuity Amid Sector Challenges
With only weeks remaining until Mexico’s June 2 presidential election, members of the energy industry are weighing in on what the sector might look like during an administration led by Claudia Sheinbaum of the Morena coalition, who has a commanding lead in national polls. On the campaign trail, Sheinbaum has explained that she would continue…
EU Energy Watchdog Says LNG Demand Could Peak This Year
The European Union’s (EU) LNG demand is likely to peak this year and buyers on the continent are likely to be over-contracted by 2030 as efforts to displace Russian natural gas over the last two years have been successful, according to the bloc’s energy watchdog. Since 2022, when Russia invaded Ukraine and cut off gas…