Day: November 10, 2022

Complaint alleges representations by the Canadian Gas Association that natural gas is ‘clean’ were false and misleading

Natural gas futures rebounded Thursday amid bullish shifts in weather conditions and a lighter-than-expected storage injection — and despite widespread power losses in Florida as Tropical Storm Nicole wreaked havoc on the state’s Atlantic coast as well as inland markets. After plunging more than $1.00 over the two previous sessions – when weather was benign…

The post Natural Gas Futures, Cash Prices Bounce Back After Bullish Storage Print, Wintry Weather appeared first on Natural Gas Intelligence

Country-wide storage in Netherlands now 92% full.

With subfreezing temperatures on the way, natural gas forward prices strengthened during the trading period from Nov. 3 to 8, according to NGI’s Forward Look. Price swings were relatively modest at the front of the forward curve when compared with recent weeks, likely because the drop in temperatures is expected to be short lived. The…

The post ‘Aggressive’ Subfreezing Temperatures Drive Natural Gas Strip Gains; New England Bracing for Tough Winter appeared first on Natural Gas Intelligence

AECO hub volatility prompted gas shut-ins during August.

Despite the challenges of a widening oil price discount

With storage refilling at a faster-than-expected clip ahead of winter, the U.S. Energy Information Administration (EIA) has slashed its projected natural gas spot price for the remainder of 2022 and the first quarter of 2023. In its latest Short-Term Energy Outlook (STEO), published Tuesday, the agency said it now expects Henry Hub spot prices to…

The post U.S. EIA Trims Natural Gas Price Forecast, Though Winter Volatility Still Possible appeared first on Natural Gas Intelligence

Higher production, robust commodity prices contributed to improvement.

Despite the challenges of a widening oil price discount

Zero emissions transportation-centered Nikola Corp. is partnering with Keystate Natural Gas Synthesis LLC to bring what may be Pennsylvania’s first blue hydrogen and chemicals production facility.  KeyState’s planned 7,000-acre production facility is to feature commercial-scale carbon capture and storage (CCS) for a blue hydrogen, ammonia and urea production facility. Nikola and KeyState are in the…

The post Pennsylvania’s Planned Blue Hydrogen Hub Driving Mid-Atlantic Energy Transition appeared first on Natural Gas Intelligence

PureWest Energy LLC, which develops natural gas reserves in Wyoming’s Green River Basin, has clinched an agreement to provide 30,000 MMBtu/d of independently certified supply to a West Coast end-user.  The Denver producer did not provide details about the end user or the pricing mechanism. However, the “one-year agreement is priced at a premium to…

The post PureWest to Supply West Coast Client with Certified Natural Gas from Green River appeared first on Natural Gas Intelligence

Complaint alleges representations by the Canadian Gas Association that natural gas is ‘clean’ were false and misleading

The Energy Information Administration (EIA) on Thursday reported a 79 Bcf injection into U.S. natural gas storage for the week ended Nov. 4, largely confirming market expectations for a plump, deficit-shrinking build following mild early winter weather. The print initially elicited a muted reaction from futures traders, though prices advanced following the report. In the…

The post Natural Gas Futures Advance After EIA Storage Injection Lands on Lower End of Consensus appeared first on Natural Gas Intelligence

Natural gas futures fell for a second consecutive session Wednesday as a powerful storm approached the Southeast, threatening power outages, while traders braced for another plump storage increase and the delayed return of a key export facility. Coming off an 80.6-cent slump Tuesday, the December Nymex gas futures contract shed 27.3 cents day/day to settle…

The post Natural Gas Futures in Freefall Ahead of Hurricane Threat appeared first on Natural Gas Intelligence

Production was down, but realised commodity prices were 40% higher.

The global push to reach net-zero emissions and meet the world’s future energy needs will cost trillions of dollars and require far more than renewable technologies, according to energy executives. “We’re still at that very early phase where we make these grand pronouncements and we’ve tried to jumpstart the machine without fully understanding, communally, the…

The post Energy Transition Impossible Without Oil, Natural Gas, Execs Say appeared first on Natural Gas Intelligence

The state sponsor of the proposed Alaska LNG export project has submitted a proposal for an Alaskan hydrogen hub to the Department of Energy (DOE) it says will extend the project’s potential to send low-carbon energy to Asia, reducing global greenhouse gas emissions. The Alaska Gasline Development Corp. (AGDC) is the latest state agency to…

The post Alaska Officials Pitch Hydrogen Hub to ‘Springboard’ Off Proposed LNG Terminal appeared first on Natural Gas Intelligence

Finance Minister faced some pointed questions at Calgary Chamber of Commerce event

Finance Minister faced some pointed questions at Calgary Chamber of Commerce event

With storage refilling at a faster-than-expected clip ahead of winter, the Energy Information Administration (EIA) has slashed its projected natural gas spot price for the remainder of 2022 and the first quarter of 2023. EIA now expects Henry Hub spot prices to average around $6/MMBtu for 4Q2022 and 1Q2023, a discount of more than $1…

The post Winter Henry Hub Slashed in Latest EIA Outlook; Brent to Average $94 in 1H2023 appeared first on Natural Gas Intelligence

With one innovative carbon sequestration project underway in the Permian Basin, Occidental Petroleum Corp. is laying the groundwork for more, including a massive deployment in South Texas, to zap emissions from oil and natural gas development. Oxy, as it is known, and subsidiary 1PointFive in August officially launched construction of their first large-scale direct air…

The post Oxy’s Carbon Capture Projects Giddy Up with King Ranch in South Texas  appeared first on Natural Gas Intelligence

Chevron Corp.’s New Energies business and Japan’s JERA are looking to leverage their lucrative LNG partnerships and collaborate on “multiple” low-carbon opportunities in the United States and Asia Pacific region. Developments to be considered include low-carbon fuels production, hydrogen, new technologies, as well as carbon capture and storage (CCS). They now are partners in liquefied…

The post Chevron, JERA to Collaborate Beyond LNG on U.S. and Asia Pacific Low-Carbon Projects appeared first on Natural Gas Intelligence

As traders awaited the latest round of government inventory data, and with weather models continuing to tease a shift to frigid conditions by mid-November, natural gas futures recovered some of their recent losses in early trading Thursday. After retreating 27.3 cents in the previous session, the December Nymex contract was up 10.5 cents to $5.970/MMBtu…

The post Natural Gas Futures Pare Losses Ahead of Likely Larger-Than-Average Storage Build appeared first on Natural Gas Intelligence

The European Commission will propose a gas “correction mechanism” to the 27 EU states on Friday, an instrument designed to ease off price spikes but not a firm cap sought by many member countries, sources said.

Japanese oil and metals giant Eneos Holdings Inc on Thursday doubled its full-year net profit estimate as higher oil prices and the yen’s slide against the U.S. dollar boosted the value of its inventories.

Italian gas grid operator Snam on Thursday confirmed its guidance for full-year net profit after reporting a 10% rise in nine-month revenue to 2.4 billion euros ($2.41 billion).

The vessels will be built at Hudong-Zhonghua Shipbuilding in China, and are scheduled for delivery in 2027.

Brookfield in partnership with MidOcean Energy, an LNG company managed by EIG, plans to acquire all the issued shares in Origin at a price of A$9/share.

Under the proposal, Warrego shareholders would receive 0.775 new Strike shares for each Warrego share held.

It is planning to truck CNG to the market to commercialise its proven gas resource at Reid’s Dome project in Queensland.

The deal was first announced in September.

The European Union will struggle to fill its gas storage tanks next summer, the head of its executive warned on Wednesday as she announced measures to boost renewable energy supply but stopped short of backing a price cap that has split opinion across the region.