Day: November 28, 2022

Natural gas futures on Monday floundered following forecasts for milder weather and estimates of strong production to start the week, continuing a slump as the December contract traded into expiration. At A Glance: Weather demand fades in outlook Analysts expect second storage pull Rail strike lurks for natural gas bulls After falling in Friday’s session,…

The post December Natural Gas Futures Prices Falter on Expiration; Cash Cascades appeared first on Natural Gas Intelligence

Argentina’s YPF SA is aiming to sanction an LNG export project by the end of 2023, according to CFO Alejandro Lew. Lew and CEO Pablo Iuliano hosted a call earlier this month to discuss the 51% state-owned oil and gas company’s third-quarter results. YPF and Malaysian national oil company Petronas signed a memorandum of understanding…

The post Argentina’s YPF Aiming to Sanction LNG Export Project by End-2023 appeared first on Natural Gas Intelligence

Natural gas prices in Europe and Asia have leveled off amid warmer weather and strong storage stocks in both regions.  In Europe, where inventories are at 94% of capacity, temperatures are expected to remain mild next week, according to Maxar’s Weather Desk.  Above normal temperatures are expected in big gas consuming regions like France, Germany…

The post European, Asian Natural Gas Prices Steady on Firm Supplies – LNG Recap appeared first on Natural Gas Intelligence

European Union (EU) energy ministers failed to reach an agreement on a proposal to cap natural gas prices in Europe at a meeting in Brussels last week. The European Commission (EC) proposed the cap. The EU’s executive branch said it would help the continent cope with rising energy prices inflicted by Russia’s move to cut…

The post EU Ministers Fail to Agree on Natural Gas Price Cap Proposal, Further Revisions Likely appeared first on Natural Gas Intelligence

Russia’s Gazprom plans to preserve gas pumping equipment at the Portovaya and Slavyanskaya compressor stations that supply the Nord Stream 1 and Nord Stream 2 pipelines, the Kommersant newspaper reported on Monday, citing sources.

Click here to listen to the latest episode of NGI’s Hub & Flow, in which Patrick Rau, NGI’s Director of Strategy and Research, takes a look at the recent U.S. natural gas production trend, whether it is sustainable into the new year, and what it all means for prices going forward. Acknowledging that the pace…

The post Can Recent U.S. Natural Gas Production Uptick Continue Into 2023? – Listen Now to NGI’s Hub & Flow appeared first on Natural Gas Intelligence

U.S. exploration and production (E&P) companies kept output for the week ended Nov. 18 at 12.1 million b/d, even with the prior week and generally on par with the level maintained through the fall, according to the Energy Information Administration (EIA).   E&Ps raised production to a pandemic-era high of 12.2 million b/d at points in…

The post U.S. Crude Production Steady as Demand Drops Ahead of Holiday appeared first on Natural Gas Intelligence

Federal regulators have granted Gas Transmission Northwest LLC (GTN) a favorable environmental impact statement (EIS) that if approved could increase natural gas pipeline capacity by about 150 MMcf/d between Idaho and Oregon. In the final EIS, FERC staff said with the recommended mitigation measures, the GTN XPress Project would result in some adverse environmental impacts,…

The post TC Energy’s Planned Natural Gas Pipeline Expansion for Pacific Northwest Gains Favorable EIS appeared first on Natural Gas Intelligence

Europe’s gas inventories are on course to end the winter of 2022/23 at one of the highest levels on record – if prices stay high and provided pipeline deliveries from Russia continue.

Upstream oil and natural gas employment in Texas grew in October, with 2,800 jobs added for the month, according to state data. The gains in oil and gas extraction, as well as support jobs, were even more impressive after the Texas Workforce Commission (TWC) revised upward the job gains in September to 2,200 from an…

The post Texas Upstream Employment on A Roll, with 2,800 Jobs Added in October appeared first on Natural Gas Intelligence

The Department of Energy (DOE) has conditionally awarded $1.1 billion in federal funding to Pacific Gas and Electric Co. (PG&E) to support extending operations at California’s last remaining nuclear power plant. PG&E’s 2.2 GW Diablo Canyon Power Plant (DCPP) in San Luis Obispo County provides about 17% of California’s carbon-free electricity and 8.6% of the…

The post PG&E’s Diablo Canyon Gains Funding to Extend Life for California’s Last Nuclear Plant appeared first on Natural Gas Intelligence

Russian LNG exports to Europe are on the rise despite the continent’s efforts to diversify natural gas supplies and impose a series of sanctions against the country for its war in Ukraine. Most of the liquefied natural gas exported from Russia to Europe has been sourced from PAO Novatek’s Yamal LNG facility in the country’s…

The post Russian LNG Exports Continue to Grow as Kremlin Targets Expansions appeared first on Natural Gas Intelligence

With a milder early December pattern in the latest forecasts arresting the market’s pre-Thanksgiving bullish momentum, natural gas futures were down sharply in early trading Monday. The expiring December Nymex contract was down 42.3 cents to $6.601/MMBtu at around 8:40 a.m. ET. Around the same time, January was off 27.6 cents to $7.054.  Declines were…

The post Early December Forecasts Set ‘Bearish Tone’ Ahead of Expiry as Natural Gas Futures Plunge appeared first on Natural Gas Intelligence

CCUS is starting to pick up momentum in China, buoyed by its inclusion last year in the government’s five-year plan for the first time, with national oil and gas majors leading development. [Gas in Transition, Volume 2, Issue 10]

India will receive its first cargo from Indonesia’s Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a Refinitiv analyst and Refinitiv ship tracking data.

BP will operate one of the blocks.

Delegates to the next in the endless round of UNFCC gathering to discuss global warming will have lots to talk about in Egypt, from resurging demand for coal to waning interest in low carbon LNG. [Gas in Transition, Volume 2, Issue 10]

With many of the best US locations taken, developers are looking to Mexico as a means of increasing US gas’ access to growing world LNG markets and Asia in particular. State support for such projects now appears to have firmed, but transmission bottlen…

The cargo was delivered via the Dutch Gate terminal in Rotterdam to Germany’s Uniper Global Commodities.

The company’s revenue increased by 10.3% yr/yr to HK$43bn during the first half.

The German cabinet has approved planned gas and electricity price brakes in an expedited process, Chancellor Olaf Scholz said on Friday, as part of efforts by the government to tackle soaring energy bills for households and businesses.

China’s Shenzhen Energy Group has signed a long-term agreement with oil major BP to buy liquefied natural gas (LNG), aiming to lock in supplies with gas-fired power generation poised to surge in the world’s second-largest economy.

China’s Shenzhen Energy Group has signed a long-term agreement with oil major BP to buy liquefied natural gas (LNG), aiming to lock in supplies with gas-fired power generation poised to surge in the world’s second-largest economy.