Day: November 2, 2022

Natural gas futures prices rebounded on Wednesday as weather forecasts once again hinted at colder temperatures and a major export facility affirmed its intention to relaunch this month, offsetting expectations for a stout government inventory report. At A Glance: Weather outlook shifts colder Futures jump 55 cents day/day Solid storage injection projected The December Nymex…

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New Fortress Energy Inc. (NFE) said it has finalized a series of LNG agreements with Mexican state electricity firm Comisión Federal de Electricidad (CFE). The companies are developing a floating liquefied natural gas (FLNG) export hub off the coast Altamira en Tamaulipas state. NFE has committed to deploy multiple FLNG units with regasification capacity of…

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Nord Stream AG disclosed Wednesday it has discovered craters 10-16 feet deep along Line 1 of its natural gas pipeline system previously used to transport Russian supplies to Europe

The post Nord Stream Operator Says Devices Made Massive Craters Along Natural Gas System – The Offtake appeared first on Natural Gas Intelligence

Demand seen rising as Freeport LNG prepares to return to service. [Image credit: Freeport LNG]

Nov 2 (Reuters) – Chesapeake Energy on Wednesday said inflation in the fastest growing U.S. shale gas region could surpass 15% next year, a sign that soaring costs for energy producers are far from abating.
The Oklahoma City-based company topped Wall Street third-quarter profit estimates this week…

With the review of its offshore project underway again, NFE hopes to deploy the first phases by the middle of next year. [Image credit: New Fortress Energy]

Natural gas futures failed to sustain momentum Tuesday as fresh signs of benign weather and weak demand overshadowed a drop in production. Following a 67.1-cent gain to start the week, the December Nymex gas futures contract on Tuesday settled at $5.714/MMBtu, down 64.1 cents day/day. January fell 52.7 cents to $6.080. NGI’s Spot Gas National…

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Williams’ long-term natural gas focus continues to bring in the returns, according to CEO Alan Armstrong, who said strong quarterly results were attributable to the company sticking to its strategy. Speaking on a 3Q2022 conference call, Armstrong said the midstream giant’s adjusted earnings before interest, tax, depreciation and amortization (EBITDA) was up 15% compared to…

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Domestic crude production ticked lower last week along with demand, the U.S. Energy Information Administration (EIA) said Wednesday. The latest government snapshot followed President Biden’s assertion this week that energy majors are keeping a lid on output in order to maintain high oil and natural gas prices to bolster profits. Biden on Monday floated a…

The post Domestic Crude Production Dips as Biden Trumpets ‘Windfall’ Tax on Natural Gas, Oil Majors appeared first on Natural Gas Intelligence

Despite higher production and revenue, it still reported a net loss for the period.

Freeport LNG Development LP is still planning to meet its previous guidance of a partial restart of its liquefaction facility later this month, according to representatives with the company, while regulators await final documentation. The 2.38 Bcf/d liquefied natural gas export terminal on the upper Texas coast has been offline since a June explosion attributed…

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Southwestern Energy Co. said Friday that it was reinforcing its long term flow assurance to U.S. LNG facilities by adding 500 MMcf/d of new firm transportation starting in 2024. The transport to the Gulf Coast liquefied natural gas corridor would be on Momentum Midstream LLC’s 1.7 Bcf/d New Generation Gas Gathering system and DT Midstream…

The post Southwestern Eyes Upping Supply to LNG Corridor, Secures Additional Transport Service appeared first on Natural Gas Intelligence

Supply chain issues, midstream constraints and adverse weather combined to curb EQT Corp.’s third quarter natural gas output and are likely to impact the company’s operations through the middle of next year, management said last week. “These third-party constraints, along with water restrictions due to drought conditions in parts of the [Appalachian] basin, negatively impacted…

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Two more discoveries have been made in the massive Stabroek Block offshore Guyana, adding to ExxonMobil’s extensive portfolio of opportunities. With the discoveries at the Sailfin-1 and Yarrow-1 wells, more than 30 discoveries have been made in the block since 2015. Offshore development and production has ramped up “at a pace that far exceeds the…

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The Swiss-based operator of Russia-led Nord Stream 1 gas pipeline said on Wednesday it had completed initial data gathering at location of the pipeline damage on line 1 in the Swedish exclusive economic zone and found “technogenic craters”.

Pourbaix says U.S. producers are receiving ‘significant support’ from government to build and operate CCS projects

Following a volatile start to the week, natural gas futures were rallying early Wednesday as weather models continued to tease a turn toward chillier temperatures later this month. The December Nymex contract was up 34.4 cents to $6.058/MMBtu at around 8:45 a.m. ET. Prices have whipsawed this week as the market has tried to get…

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Both ships are scheduled to be completed in 2025.

Italy’s gas storage facilities are more than 95% full as the country prepares for a winter when supplies might be constrained by the war in Ukraine, gas grid operator Snam said on Wednesday.

The vessel will be owned and operated by China National Offshore Oil Corporation.

Pipeline operator Energy Transfer LP raised its profit forecast for the third time this year, helped by an acquisition, and by rising volumes of natural gas moving on its network.

Mitsubishi Power will undertake the parts, repairs and services for five Mitsubishi Power H-25 gas turbines installed at the Damietta LNG plant.

British Columbia is nearing a deal with First Nations to restart stalled development in Canada’s prolific Montney shale play, gas industry companies said in recent days, adding they have urged the provincial government to move quickly or risk missing the winter drilling season.

Germany, racing to end its reliance on Russian gas, plans to introduce new regulation that will make it possible to expropriate property to link offshore liquid natural gas terminals to the grid, Handeslblatt reported.