Shale Daily

Uncertainty around demand at the Freeport LNG terminal had natural gas traders on a bumpy ride through midday Tuesday. Modest gains earlier in the session gave way to a steep sell-off shortly before lunchtime on the East Coast. Here’s the latest: June Nymex futures off 4.2 cents to $1.988/MMBtu as of 2:11 p.m. ET Front…

The exploration and production sector may be feeling the heat from slumping natural gas prices, but they had little impact on Enterprise Products Partners LP’s Permian Basin operations during the first quarter, executives said Tuesday. Driven by its operations in West Texas, natural gas transportation volumes during 1Q2024 improved from a year ago to 18.6…

Egypt has halted all LNG exports beginning in May as lower domestic natural gas production has forced the North African country to divert supply to local power demand during the summer months. Last year was Egypt’s hottest summer on record, with temperatures surpassing 95 F. This summer is forecast to have similar temperatures. Egypt’s Ministry…

Nobody is questioning the downward direction of natural gas production over the past two months, a trend hastened by soft demand during a mild winter that put prices persistently near four-year lows. Major exploration and production (E&P) companies, including Chesapeake Energy Corp. and EQT Corp., announced curtailments to activity during the first quarter – cutbacks…

Technical market indicators suggest a bottom could be near for the newly anointed prompt-month June futures contract on the New York Mercantile Exchange (Nymex). June futures settled down 6.3 cents at $1.923/MMBtu on Friday (April 26). On Monday, the contract’s first day in the lead position, losses were reversed as June increased 10.7 cents to…

Natural gas futures were trading higher at the front of the curve early Tuesday as updated estimates offered further evidence of declining springtime production volumes. Coming off a 10.7-cent rally on Monday, the June Nymex contract was up 1.3 cents to $2.043/MMBtu at around 8:50 a.m. ET. Estimates from Wood Mackenzie as of early Tuesday…

Natural gas futures pushed higher on Monday, boosted by a full restart of Freeport LNG’s third train, supply interruptions in the Permian Basin and expectations for a below-average storage injection. At A Glance: June takes over as front month Freeport restarts third train NGI models 56 Bcf injection The June Nymex contract settled 10.7 cents…

Mexico’s state power utility Comisión Federal de Electricidad (CFE) highlighted the expansion of its natural gas marketing business and partnerships with the private sector in a series of recent updates.  In addition to its role as Mexico’s largest generator and distributor of electricity, CFE is the country’s primary importer and marketer of natural gas via…

Venture Global LNG Inc. is looking to import at least three liquefied natural gas cargoes to aid in commissioning of Plaquemines LNG, according to a Department of Energy (DOE) filing.