Natural Gas Buzz

The massive opportunities presented by nearshoring were all the rage last week at a packed energy conference in Monterrey, Nuevo León. Industry Exchange LLC’s 8th Mexico Infrastructure Projects Forum kicked off with government officials and executives expounding on the theme. Nuevo León Economy Secretary Iván Rivas said, “We will do everything to take advantage of…

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Natural gas trading delivered blow-out results for Shell plc in the final quarter of 2022, fueled by stronger LNG sales. CEO Wael Sawan, helming his first conference call since taking over, joined CFO Sinead Gorman on Thursday from London, as they dissected fourth quarter and 2022 results. Sawan formerly led the Integrated Gas unit. He…

The post Shell’s Integrated Natural Gas Business Delivers as LNG Sales Climb appeared first on Natural Gas Intelligence

Natural gas futures failed to sustain momentum, sliding midweek as traders brushed off what are likely to be temporary declines in production related to freeze-offs and instead focused on a quick warm-up expected this weekend. The March Nymex contract settled Wednesday at $2.468/MMBtu, down 21.6 cents from Tuesday’s close. At A Glance: BREAKING: U.S. EIA…

The post Natural Gas Futures Prices Slip Ahead of Storage Draw, Moderating Temperatures appeared first on Natural Gas Intelligence

The U.S. Energy Information Administration (EIA) said 151 Bcf was withdrawn from natural gas inventories for the week ending Jan. 27, coming in on the high side of estimates ahead of the weekly report. Notably, however, the latest government data included a revision from the previous week’s report, which reflected slightly higher levels of storage.…

The post Natural Gas Futures Relatively Steady Amid Mixed Signals in Latest EIA Storage Report appeared first on Natural Gas Intelligence

Loading from one berth would provide tank space ahead of return to full commercial operations. [Image credit: Freeport LNG]

US major returned $15bn of capital to shareholders last year.

Shell is still receiving cargoes of liquefied natural gas (LNG) from Russia under its long-term contract with Novatek, a Shell spokesperson said on Thursday.

FortisBC Holdings Inc. has reached an agreement with the Snuneymuxw First Nation community “to work in close collaboration” on planned expansions of the Tilbury LNG facility in Delta, British Columbia (BC). In operation since 1971, the liquefied natural gas facility added 0.25 mmty (33 MMcf/d) of liquefaction capacity and a 46,000 cubic meter (1 Bcf)…

The post FortisBC Secures First Nations Partnership to Advance Tilbury LNG Expansions appeared first on Natural Gas Intelligence

It is the third well in the company’s drilling campaign at SASB.

The Interior Department’s Bureau of Land Management (BLM) has outlined a preferred alternative for ConocoPhillips’ Willow project proposed for Alaska, creating a path for possible approval for one of the largest oil and gas developments on public lands. In a final supplemental environmental impact statement (SEIS) released Wednesday, BLM staff recommended approval of three of…

The post ConocoPhillips’ Willow Project in Alaska Inching Forward as BLM Recommends Partial Approval appeared first on Natural Gas Intelligence

Natural gas futures pared their losses early Thursday as traders prepared to digest the latest round of government inventory data, expected to reveal another lighter-than-average withdrawal to further pad the storage cushion. Coming off a 21.6-cent slide in the previous session, the March Nymex contract was up 2.6 cents to $2.494/MMBtu at around 8:50 a.m.…

The post American Model Cooler Trending as Natural Gas Futures Pare Losses Ahead of Storage Report appeared first on Natural Gas Intelligence

The modern world we take for granted depends, for its life, on electricity, oil and natural gas and ignoring that fact could propel us backward at high speed. Continue reading →

The post Electricity, Oil and Natural Gas: The Lifeblood of Our World appeared first on Natural Gas Now.

Romanian oil and gas group OMV Petrom is “closer than ever” to starting construction of its Neptun Deep gas project, its chief executive said on Thursday of the Black Sea resources she says are key to the country’s energy security.

Shell delivered a record $40 billion profit in 2022, the energy giant said on Thursday, capping a tumultuous year in which a surge in energy prices after Russia’s invasion of Ukraine allowed it to hand shareholders unprecedented returns.

Norway will increase the spending from its sovereign wealth fund in the coming years to fund military and civilian aid to Ukraine, Norwegian Prime Minister Jonas Gahr Stoere told parliament on Thursday.

India’s Gujarat State Petroleum Corp (GSPC) is seeking a liquefied natural gas (LNG) cargo for delivery in the second half of March, said three industry sources on Thursday.

The head of Iraq’s Basra Oil Company (BOC) told Reuters on Wednesday that he expects Qatar to acquire a 20-25% stake in TotalEnergies’ $27 billion cluster of energy projects in the country, with the Baghdad government aiming to hold around 40%.

U.S. exports of liquefied natural gas (LNG) declined 5% to 6.84 million tonnes in January compared to the prior month as cold weather boosted domestic demand and as producers sent less gas to European customers, Refinitiv Eikon data showed on Wednesday.

Italy urgently needs to expand the capacity of its gas grid, the CEO of network operator Snam said, adding the group would seek European Union funds to support the development.

The Japanese company has sold Inpex Eagle Ford to Repsol Oil & Gas USA, a subsidiary of Spain’s Repsol.

Damietta LNG last year produced and exported approximately 4mn mt of LNG.

Natural gas futures failed to sustain momentum, sliding midweek as traders brushed off what are likely to be temporary declines in production related to freeze-offs and instead focused on a quick warm-up expected this weekend. The March Nymex contract settled Wednesday at $2.468/MMBtu, down 21.6 cents from Tuesday’s close. Spot gas prices were mostly lower,…

The post Natural Gas Futures Flounder as Quick Warm-Up Seen Negating Impacts from Winter Storm Mara appeared first on Natural Gas Intelligence

Natural gas prices nosedived in February bidweek trading under the pressure of enduring benign weather, light heating demand and robust production. NGI’s February Bidweek National Avg. sunk $8.290 month/month to $5.430/MMBtu. That compared with the $6.785 average for the year-earlier period. Prices dropped across the Lower 48 during the Jan. 25-27 bidweek trade, with natural…

The post February Natural Gas Bidweek Prices Plummet Amid Weak Demand, Abundant Supplies appeared first on Natural Gas Intelligence

Analysts say full operation unlikely before late March. [Image credit: Freeport LNG]

Mexico’s demand for Texan natural gas is set to rise as new infrastructure projects come to fruition. Along with plans in Mexico to build up to 5 Bcf/d of liquefied natural gas export capacity, state utility Comisión Federal de Electricidad (CFE) also is developing over 7 GW of natural gas-fired power generation by 2025. These…

The post Texas Natural Gas Production Hitting Records as Mexico Ups Supply Needs appeared first on Natural Gas Intelligence

Oman has agreed to provide Turkey’s Botas with LNG beginning in 2025, continuing a streak of supply agreements that began last year as the nation looks to increase output of the super-chilled fuel. Oman LNG LLC would supply 1 million metric tons/year (mmty) to state-owned Botas over a 10-year term from its Qalhat liquefaction facility…

The post Oman Continues to Advance LNG Supply Agreements in Latest Deal With Botas appeared first on Natural Gas Intelligence

Venture Global LNG has been granted permission by FERC to progress limited construction at Plaquemines LNG in Louisiana.

The post FERC Grants LNG Storage Construction Approvals to Venture Global, Tellurian – The Offtake appeared first on Natural Gas Intelligence

Natural gas is officially labeled “green” in Ohio after Gov. Mike DeWine last month signed House Bill (HB) 507 into law, though the green stamp may not carry much legislative weight for funding or regulations, according to the governor’s office.  HB 507 passed the Ohio Senate in December, with the primary goal of ensuring state…

The post Ohio Slaps ‘Green’ Label on Natural Gas as ‘An Opinion Statement,’ Says Governor appeared first on Natural Gas Intelligence

Enterprise Product Partners LP has $3.6 billion of assets scheduled to begin commercial operations this year to expand natural gas, liquids and crude oil systems across the United States, with almost $2 billion more rolling off the boards through 2025, executives said Wednesday. Co-CEOs Jim Teague and Randy Fowler shared a microphone with the executive…

The post Enterprise Preparing to Launch Expanded Crude, NGL and Natural Gas Systems appeared first on Natural Gas Intelligence

Natural gas futures stabilized on Tuesday, supported by a cold front, eased production and strength in cash markets. Coming off a 17.2-cent drop in its debut as the front month a day earlier, the March Nymex gas futures contract on Tuesday settled at $2.684/MMBtu, up seven-tenths of a cent day/day. April rose 1.0 cent to…

The post Natural Gas Futures Find Stability; Cash Prices Sustain Momentum appeared first on Natural Gas Intelligence

U.S. oil producers remained active through January, with output last week holding at a pandemic-era high as it did across the month and in late 2022. The U.S. Energy Information Administration (EIA) said Wednesday production for the period ended Jan. 27 stood at 12.2 million b/d – on par with the prior week and the…

The post Domestic Crude Production Holds Strong; OPEC-Plus Advisers Stick With Output Cuts appeared first on Natural Gas Intelligence

TC Energy Corp. has again upwardly revised the expected cost of the Coastal GasLink (CGL) natural gas pipeline in Western Canada, citing challenges on multiple fronts. TC now expects the project to cost C$14.5 ($10.9 billion), up from C$11.2 billion ($8.4 billion) forecasted in its third-quarter 2022 earnings report. “The project continues to face material…

The post ‘Disappointed’ TC Energy Projecting 29% Cost Increase for Coastal GasLink Natural Gas Pipeline appeared first on Natural Gas Intelligence

Gas stove replacement fantasies are being pursued in places such the Emperor State with no accountability at all except to enforcers of political correctness. Continue reading →

The post Gas Stove Bans: Everything You Need to Know To Fight Back! appeared first on Natural Gas Now.

New estimates place cost of the 670-km pipeline at C$14.5bn. [Image credit: Coastal GasLink]

MPLX LP is bumping up its capital spending by $50 million in 2023 to work toward debottlenecking pipeline constraints and expanding gathering and processing (G&P) capacity in the Permian Basin, as well as the Bakken and Marcellus shales. MPLX has set aside $800 million of growth capital for the year, with another $150 million earmarked…

The post MPLX Bullish on Natural Gas Growth as Permian, Marcellus Bottlenecks Targeted appeared first on Natural Gas Intelligence

The global natural gas and oil exploration sector had its strongest year in 2022 in a decade as national oil companies and majors focused on taking advantage of what might be a short-term window of opportunity. The sector created some $33 billion of value at $60/bbl Brent prices last year, according to a report from…

The post Global Natural Gas, Oil Exploration Soaring, with Focus on High-Value Assets appeared first on Natural Gas Intelligence

After the city moved last month to ban new oil and natural gas drilling within its borders, the Los Angeles County board has followed suit, banning new drilling activity beginning this month.  County officials unanimously voted to adopt an ordinance amending the zoning law, banning any new oil and gas wells or production facilities in…

The post Los Angeles County Banning New Oil, Gas Wells appeared first on Natural Gas Intelligence

An exceptionally mild temperature outlook heading into the second week of February kept the pressure on natural gas futures early Wednesday as overnight forecasts trended warmer. The March Nymex contract was down 2.1 cents to $2.663/MMBtu at around 8:45 a.m. ET. Weather models overnight further warmed what was already a bearish pattern starting next week…

The post Bearish Temps Keeping Pressure on Natural Gas Futures, Though Other Factors Lend Support appeared first on Natural Gas Intelligence

Could cost a further $1.2 billion if construction is extended into 2024

APLNG’s realised LNG price during the quarter was $15.94/mn Btu, compared with $11.08/mn Btu.

The plant has a generating capacity of approximately 650 MW. [Image: Jera]

Gazprom’s exports outside the former Soviet Union slumped 45% in 2022 to only 100.9bn m3.

Joe Biden has been a corrupt liar as long as he has been in politics but his decision to kill the Twin Metals Project suggests he is also a foreign agent. Continue reading →

The post Twin Metals Project Killed by Foreign Agent in White House? appeared first on Natural Gas Now.

The decline in energy prices on the global markets was not expected, Economy Minister Robert Habeck said on Wednesday, adding that he saw a chance Germany won’t see last year’s price spikes if it comes out of winter with well-filled gas storages.

Bangladesh aims to buy more liquefied natural gas (LNG) on the spot market in the coming months, two officials at its national gas company said, reversing a government decision last year to halt spot purchases after prices spiked.

Drilling is now underway on an 11th well. [image credit: Neptune Energy]

A 2020 report by Xodus Group estimated that 34bn ft3 of gas could be recovered from Loxley.

The Russian General Prosecutor’s Office is asking a court to recover 15.5 billion roubles ($220 million) in allegedly unpaid taxes from U.S. oil major ExxonMobil, local news agencies TASS and Interfax reported on Tuesday citing court documents.

Russia supplied Europe with some 17 million tonnes of liquefied natural gas (LNG) last year, up about 20% from 2021 volumes, Refinitiv Eikon data showed on Tuesday, partially offsetting a steep decline in Russian pipeline gas exports.

Australian and South Africa-listed natural gas and helium producer is developing the second phase of Victoria gas project in South Africa’s Free State.

The Pittsburgh Airport has developed its own smart energy grid based largely upon natural gas with supplemental solar energy and it is very smart indeed. Continue reading →

The post Pittsburgh Airport Gets Smart with Natural Gas! appeared first on Natural Gas Now.

Natural gas futures stabilized on Tuesday, supported by a cold front, eased production and strength in cash markets Coming off a 17.2-cent drop in its debut as the front month a day earlier, the March Nymex gas futures contract on Tuesday settled at $2.684/MMBtu, up seven-tenths of a cent day/day. April rose 1.0 cent to…

The post Natural Gas Futures Eke Out Gain; Spot Prices Advance Third Straight Day appeared first on Natural Gas Intelligence

Mexico’s state power company Comisión Federal de Electricidad (CFE) is aiming to bring online 1.5 GW of natural gas-fired power generation capacity on the Yucatán Peninsula by summer 2024, CEO Manuel Bartlett said Monday. The combined-cycle plants in Mérida and Valladolid would have capacities of 499 MW and 1,020 MW, respectively, and run primarily on…

The post Mexico’s CFE Eyeing 2024 In-Service for Yucatán Natural Gas Power Plants appeared first on Natural Gas Intelligence

Freeport LNG Development LP has requested FERC’s approval to reintroduce feed gas to one of its three trains more than seven months after a fire and explosion knocked the Texas plant offline. In a filing on Monday, Freeport also said that it has successfully cooled down its Loop 1 transfer piping so it can move…

The post Freeport LNG Ready to Introduce Feed Gas to Train 3 For First Time in Months appeared first on Natural Gas Intelligence

An initial capacity expansion of 1.2 billion cubic meters/year (Bcm/y) is underway on the Trans Adriatic Pipeline (TAP), the western connection bridging Azerbaijan’s natural gas production to Europe, as the European Union (EU) seeks to double imports through the system by 2027. TAP AG, the transmission operator for the 546-mile system, disclosed Monday natural gas…

The post Initial Expansion of TAP Natural Gas System Launches Bid to Double Azerbaijan Exports to Europe appeared first on Natural Gas Intelligence

Alaska Gov. Mike Dunleavy sees the state’s future connected to its role as a global energy supplier, which means utilizing more natural gas resources and developing LNG exports to Asia, he said during the annual State of the State address. The Republican governor, who is beginning his second term, said he intended to build on…

The post Alaska Governor Ready to ‘Unlock’ North Slope Natural Gas to Strengthen Energy Supplies appeared first on Natural Gas Intelligence

More approvals still needed before commercial LNG production can resume. [Image credit: Freeport LNG]

The legacy Permian Basin operations guided Chevron Corp. to record U.S. production in 2022, with natural gas and oil output from the play rising 16%. CEO Mike Wirth led a conference call last week with the executive team to discuss fourth quarter and full-year performance.  “We delivered record earnings and cash flow in 2022, while…

The post Permian Carries Chevron to Record 4Q U.S. Production  appeared first on Natural Gas Intelligence

Canada’s LNG is the greenest in the world and we have an obligation to share it with the world, says Enbridge CEO

ExxonMobil leaned in when some competitors leaned out, and the supermajor has used the advantage to capture the upside, CEO Darren Woods said Tuesday. Woods and his executive team shared 4Q2022 and full-year results during a wide-ranging conference call.  “Our results clearly benefited from a favorable market,” Woods told investors. “But to take full advantage…

The post ExxonMobil Gains on Higher Natural Gas Realizations, ‘Favorable Market’ in Late 2022 appeared first on Natural Gas Intelligence