Natural Gas Buzz

Climate justice is a political correctness that means nothing more than more corrupt politics and it is dashing any hope whatsoever for the naive Climate Act. Continue reading →

The post Climate Justice Politics Derails Any Hope for NY Climate Act appeared first on Natural Gas Now.

China’s economic growth could exceed official targets and consumer mobility and spending could surge after the reopening to super-charge a renewed increase in energy commodity prices, especially crude oil, Wood Mackenzie said in a new report on Thursda…

Goldman Sachs expects higher oil prices 12 months from now, analysts from the investment bank said in a note, pointing out a forecast demand increase in China to more than 16 million barrels daily over the period. The bank is quite bullish on all commo…

Eastern Mediterranean-focused gas producer Energean on Thursday forecast its 2023 output would reach 131,000-158,000 barrels of oil equivalent (boed) per day after the start-up of its flagship Israeli Karish field.

Crude oil prices moved lower today as the Federal Reserve signaled the U.S. economy is not yet out of the woods and the EIA reported yet another weekly build in crude oil stocks. Although prices had inched up right after the Fed’s monetary policy meeti…

Goldman Sachs expects higher oil prices 12 months from now, analysts from the investment bank said in a note, pointing out a forecast demand increase in China to more than 16 million barrels daily over the period. The bank is quite bullish on all commo…

The second biggest U.S. liquefied natural gas (LNG) export plant, Freeport, has cancelled up to four shipments of LNG, due to restart snags after an eight-month-long outage, trading sources told Reuters.

The agreement relates to the provision of spares and maintenance services necessary to maintain the reliability of engines onboard Nakilat’s LNG vessels. [Image: Nakilat]

How very quickly we forget! SVB was far from the first ESG disaster. No, that would be Enron, which was as politically correct as it got and that’s what killed it. Continue reading →

The post Enron Was An ESG Pioneer, Too: That’s the Danger We Face! appeared first on Natural Gas Now.

How very quickly we forget! SVB was far from the first ESG disaster. No, that would be Enron, which was as politically correct as it got and that’s what killed it. Continue reading →

The post Enron Was An ESG Pioneer, Too: That’s the Danger We Face! appeared first on Natural Gas Now.

This week, the Intergovernmental Panel on Climate Change released a new report. Unsurprisingly alarming, the report aimed to turn up the heat on governments, the business world, and every one of us to do more about the energy transition. Decarbonizatio…

High export demand for LNG and higher domestic natural gas consumption pushed U.S. gas demand to higher levels than supply last year, resulting in the highest average Henry Hub spot price since 2008, the Federal Energy Regulatory Commission (FERC) said…

Natural gas futures on Wednesday lost ground for the third time in four sessions, succumbing to spring weather expectations and stout production levels. The April Nymex gas futures contract settled at $2.171/MMBtu, down 17.7 cents day/day. May fell 17.8 cents to $2.307. At A Glance: Front month sheds 17.7 cents day/day Next-day cash prices under…

The post Natural Gas Futures, Spot Prices Slump As Supply/Demand Imbalance Worries Fester appeared first on Natural Gas Intelligence

Historically, giant commodity traders such as Switzerland’s Vitol, Glencore, and Gunvor as well as Singapore’s Trafigura have dominated the global oil trade while smaller trading desks that lack the wherewithal and deep infrastructure networks of the g…

U.S. natural gas exporters are increasingly eyeing the global market, according to new data published by the Federal Energy Regulatory Commission, or FERC. U.S. LNG exports rose by 8.6% year/year to average 10.6 Bcf/d in 2022, with demand growth driven by European markets seeking a substitute for Russian supply, FERC said in its 2022 State…

The post U.S. Natural Gas Pipeline Exports to Mexico Slipped in 2022 as LNG Exports Jumped appeared first on Natural Gas Intelligence

Via AG Metal Miner The Global Precious Metals MMI (Monthly MetalMiner Index) dropped considerably month-over-month. All in all, the index fell by 8.74%. The market continues to witness bearish pressure on precious metal prices today, just as it did thr…

A roundup of news and commentary from NGI’s LNG Insight Freeport LNG Development LP has canceled up to four cargoes that were scheduled to be loaded this month as it continues working through issues to fully restart the plant on the upper Texas coast after an explosion nine months ago, according to Reuters.  Market sources…

The post Freeport LNG Cancels Additional Cargo Loadings – The Offtake appeared first on Natural Gas Intelligence

Any restrictions or outright bans on natural gas would have severe implications for the U.S. agricultural sector and the nation’s food supply, the American Gas Association (AGA) warned in a study released Wednesday.  As policymakers across the world weigh the role of fossil fuels in the energy transition and more localities across the United States…

The post AGA Says U.S. Food Security Depends on Natural Gas, Cautions Against Restrictive Policies appeared first on Natural Gas Intelligence

Early this month, Tesla’s Elon Musk announced the company’s next-generation cars would cost half as much as current models. The bombastic statement was completely in character and did not exactly take the media world by storm, but it made its way into …

Energy trader Gunvor made strong profits last year and is looking to expand its oil trading and develop a significant power trading arm in the United States, its CEO told Reuters.

Five international oil companies active in Brazil have petitioned a federal court to suspend the 9.2% tax on crude oil exports that new president Ignacio Lula da Silva introduced soon after he came into office, angering the industry. According to the g…

Over 130,000 people, and possibly tens of thousands more, have been left without power as storms ravage California, sparking major evacuation orders amid high winds, heavy rain and flooding. An atmospheric river storm is now threatening southern and ce…

U.S. natural gas production and LNG exports are likely to grow between now and 2050 with domestic gas consumption dropping only slightly, according to the Energy Information Administration (EIA). All of the scenarios modeled in EIA’s latest Annual Energy Outlook (AEO) released last Thursday show the United States remaining a net exporter of natural gas…

The post U.S. Natural Gas Production, LNG Exports Expected to Grow Through 2050, EIA Forecasts appeared first on Natural Gas Intelligence

Africa’s total announced electrolyzer pipeline capacity has reached 114 gigawatts (GW), with 61% of this tied to countries in Sub-Saharan Africa, according to Rystad Energy analysis. This African region has an announced electrolyzer pipeline of about 7…

Just two weeks after signing a US LNG supply deal with Chesapeake Energy, Swiss commodity trader Gunvor has said it is planning to expand its trading operations in the United States, with the development of a major power trading arm, Reuters reports in…

Just two weeks after signing a US LNG supply deal with Chesapeake Energy, Swiss commodity trader Gunvor has said it is planning to expand its trading operations in the United States, with the development of a major power trading arm, Reuters reports in…

Just two weeks after signing a US LNG supply deal with Chesapeake Energy, Swiss commodity trader Gunvor has said it is planning to expand its trading operations in the United States, with the development of a major power trading arm, Reuters reports in…

Decision will determine how resource development and major infrastructure projects unfold across Canada

Natural gas futures rebounded Tuesday, avoiding a third consecutive loss amid modestly lighter production and expectations for more late season heating demand. The April Nymex gas futures contract gained 12.5 cents day/day and settled at $2.348/MMBtu. May futures advanced 15.4 cents to $2.485. NGI’s Spot Gas National Avg. went the opposite direction, falling 16.0 cents…

The post Invigorated Bulls Send Natural Gas Futures Higher Tuesday appeared first on Natural Gas Intelligence

On February 13, the groundbreaking ceremony was held in Baku for the largest thermal power station (TSP) yet to be built in Azerbaijan with a planned capacity of 1,280 megawatts (MW) (Apa.az, February 13). The project’s total value is estimated at arou…

The United States levied fresh sanctions on Iranian firms and individuals for procuring materials utilized in creating drones.  Several individuals and entities from Iran and Turkey were designated by the U.S. Treasury Department’s Office of Foreign As…

The United States levied fresh sanctions on Iranian firms and individuals for procuring materials utilized in creating drones.  Several individuals and entities from Iran and Turkey were designated by the U.S. Treasury Department’s Office of Foreign As…

Domestic crude production climbed back to the high mark of the pandemic era as U.S. consumption of petroleum products increased and mounting Chinese demand fueled global growth expectations. American exploration and production (E&P) firms boosted output by 100,000 b/d to 12.3 million b/d for the week ended March 17, according to the U.S. Energy Information…

The post U.S. Oil Production Returns to 2023 Peak Level; Demand Rises Despite Fresh Worries appeared first on Natural Gas Intelligence

Urges it to sell off refinery and other non-core assets

As the banking sector portends actual problems within the financial system, virtue signaling seems to be falling down the average asset manager’s list of priorities…would could have guessed? At least that’s what the action in ESGU appears to be showi…

Evaluating the European gas market is one of the natural first steps for anyone looking to measure the impact of LNG on the U.S. natural gas market.

The post Understanding Europe’s Outsized Role in the U.S. Natural Gas Market – Column appeared first on Natural Gas Intelligence

Over 130,000 people, and possibly tens of thousands more, have been left without power as storms ravage California, sparking major evacuation orders amid high winds, heavy rain and flooding. An atmospheric river storm is now threatening southern and ce…

Crude oil prices climbed today, after the U.S. Energy Information Administration reported another weekly build in crude oil inventories of 1.1 million barrels. That compared with a build of 1.6 million barrels for the previous week. The authority also …

Click here to listen to the latest episode of NGI’s Hub & Flow. Senior LNG editor Jamison Cocklin and special contributor Brad Hitch discuss Hitch’s new column that was launched for NGI’s LNG Insight earlier this year. Hitch, an industry veteran and a former LNG trader, discusses the need for better information in the global…

The post NGI LNG Columnist Brad Hitch Talks Big Changes in the Global Natural Gas Market – Listen Now to NGI’s Hub & Flow appeared first on Natural Gas Intelligence

The United States levied fresh sanctions on Iranian firms and individuals for procuring materials utilized in creating drones.  Several individuals and entities from Iran and Turkey were designated by the U.S. Treasury Department’s Office of Foreign As…

Russian President Vladimir Putin hosted Chinese President Xi Jinping for a two-day summit in Moscow this week. Here’s a look at the key outcomes.

Xi Jinping concluded a three-day visit to Russia on March 21. He and Russian President Vladimir Putin inked several agreements to deepen strategic cooperation between the two countries.  Xi said the agreement brings ties into a “new era” of cooperation…

The OPEC+ group is not expected to intervene in the oil market with changes to its production policy, likely keeping the current quotas until the end of 2023, despite the oil price plunge and the financial markets turmoil, three OPEC+ delegates told Re…

A major turnaround on nuclear policy places South Korea’s long-term LNG prospects in jeopardy. But it remains to be seen whether the sharp fall projected in the fuel’s share of power generation will actually be realised. [Gas in Transition, Volume 3, I…

Russia aims to nearly triple LNG exports to 100 million metric tons/year (mmty) by 2030 by expanding the list of natural gas fields allowed to export the super-chilled fuel, Prime Minister Mikhail Mishustin said in a televised government meeting earlier this month. Draft amendments aimed at achieving that goal would “legally free up reserves for…

The post Russia Wants to Triple LNG Exports by Opening More of Its Gas Fields appeared first on Natural Gas Intelligence

Saudi Arabia’s state-owned oil producer posted record profits for 2022, up nearly 50% year/year, lifted by soaring oil and natural gas prices. Saudi Arabian Oil Co., better known as Aramco, tripled the 2022 profit recorded by ExxonMobil, lifted by higher sales volumes and improved margins for refined products. Commodity prices surged early in the year…

The post Saudi Aramco CEO Warns of Industry Underinvestment, Says Natural Gas, Oil to ‘Remain Essential’ appeared first on Natural Gas Intelligence

With warmer overnight forecast trends sapping some of the market’s bullish momentum, natural gas futures reversed lower in early trading Wednesday. The April Nymex contract was down 10.8 cents to $2.240/MMBtu at around 8:40 a.m. ET. The front month ultimately rallied 12.5 cents in Tuesday’s session, mounting a strong finish after probing as low as…

The post Natural Gas Futures Falter Early Following Warmer Overnight Forecast Trends appeared first on Natural Gas Intelligence

UK’s Unite the union on Wednesday said that its members at BP Petrofac sites have voted to support a strike over pay at oil and gas facilities in the North Sea.

Public Citizen Foundation is a corporatist tool, an elitist shill, an entity created to turn the economy upside down so all the loose cash falls in their laps. Continue reading →

The post Public Citizen Foundation Aims to Sue Us All Out of the Way appeared first on Natural Gas Now.

Higher prices more than countered the impact of lower production.

The recent rout in bank shares will not have a knock-on effect on commodities, global trading firm Trafigura’s chief financial officer Christophe Salmon told the Financial Times Commodities Global Summit on Wednesday.

After the collapse of Silicon Valley Bank and Signature Bank, U.S. clean energy start-ups and companies could face growing difficulties in accessing finance, which could slow the effect of a rapid renewable energy rollout intended by the Inflation Redu…

More than half of Europe’s LNG import capacity could become stranded assets by 2030 as current LNG buildout plans are set to vastly exceed projected demand for liquefied natural gas by the end of the decade, the Institute for Energy Economics and Finan…

Emissions Trading Systems (ETS) raised a record $63 billion for governments last year, as the energy crisis pushed policymakers to double down on decarbonization efforts, intergovernmental forum International Carbon Action Partnership (ICAP) said in a …

APLNG will supply gas to Energy Australia and Alinta Energy. [Image: APLNG]

After reversing last week’s rout and rising for two consecutive days earlier this week, oil prices were down on Wednesday morning in Asian trade ahead of a Fed update on interest rates and other monetary policy measures. At the time of writing, Brent c…

The permits’ joint ventures will comprise Triangle (50% and operator), Nzog (25%) and Talon Energy (25%).

The imports were mostly unchanged month/month.

French oil major TotalEnergies forecasts its overall greenhouse gas emissions will not see a big reduction by 2030 given it wants to grow its gas business, executives said in an update on its climate strategy on Tuesday.

Sydney-listed Hartshead has reached an agreement with Shell on key commercial terms to transport and process
its Phase I gas production to the UK sales point.