NGI The Weekly Gas Market Report

North American natural gas prices moderated this week as temperatures remained warm and storage inventories continued to grow. NGI natural gas prices at Monterrey and Los Ramones near the border with Texas dropped below $5.00/MMBtu for the first time in over a month. U.S. futures prices for November and December delivery also dipped in this…

Looming winter freezes could drive elevated demand for natural gas in parts of the northern United States, while festering drought conditions in the Southwest could fuel consumption when weather heats up next spring to offset lighter hydropower. Elsewhere, demand could prove lighter than normal. These were among the takeaways from the National Oceanic and Atmospheric…

Despite projecting higher-than-average temperatures across much of the United States this winter that would typically dampen gas-fired power demand, FERC on Thursday predicted rising natural gas prices for the period. A newly released Federal Energy Regulatory Commission report, “2021-2022 Winter Energy Market and Reliability Assessment,” anticipates an average Henry Hub futures price of $5.63/MMBtu for…

The Delaware County Court of Common Pleas in Pennsylvania last week ordered the public release of emails between Energy Transfer LP, which is expanding the Mariner East (ME) natural gas liquids (NGL) pipeline system, and officials in a county township. Since 2016 ME has carried increasing NGL volumes from processing facilities in the Marcellus and…

As natural gas demand continues to outstrip supply, Kinder Morgan Inc. is in preliminary discussions with Texas regulators and other stakeholders about expanding storage capabilities outside its current market area, CEO Steven Kean said Wednesday. Kean joined other members of the executive team to discuss with investors the third quarter results. Kean said the additional…

Foreshadowed for years, French Canada said it plans to ban fossil fuel production by rejecting exploration and production development and liquefied natural gas (LNG) exports. “The government of Quebec has taken a decision to renounce, definitively, extraction of hydrocarbons in its territory,” said Premier Fancois Legault. He announced the move in an annual State of…

A bipartisan group of Texas legislators has asked the Biden administration to intervene on behalf of U.S. energy companies operating in Mexico amid the latter country’s increasingly nationalistic energy policies. Sens. John Cornyn and Ted Cruz, along with 18 of the state’s 32 U.S. representatives, signed a letter Tuesday (Oct. 19) to U.S. Ambassador to…

Venture Global LNG Inc. has signed two long-term sales and purchase agreements to supply state-owned China Petroleum & Chemical Corp., aka Sinopec, with liquefied natural gas (LNG) from its Plaquemines export terminal under development in Louisiana.  Sinopec agreed last month to purchase 2.8 million metric tons/year (mmty) on a free-on-board (FOB) basis in one deal…

Baker Hughes Co. expects to score a few orders for liquefied natural gas (LNG) equipment before year’s end, with a double-digit growth forecast for 2022, CEO Lorenzo Simonelli said Wednesday. Simonelli and CFO Brian Worrell shared a microphone to detail for investors the 3Q2021 performance. Some “challenges” hit the bottom during the quarter, Simonelli said,…