Day: December 6, 2022

Weather models apparently haven’t gotten the memo that it’s actually December. A mild outlook for the rest of the year shifted even warmer overnight, further pressuring natural gas futures prices on Tuesday. After briefly moving into positive territory, the January Nymex gas futures contract settled at $5.469/MMBtu, down 10.8 cents day/day. February slid 10.6 cents…

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Colombia’s Ecopetrol kept adding oil and gas production in the third quarter. In an earnings call last month, CEO Felipe Bayón cited deepwater gas discoveries in the Caribbean in the Gorgon-2 with partner Shell plc, and another find by subsidiary Hocol SA in Cordoba department. He said this reiterates “Colombia’s potential for gas, the hydrocarbon…

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Driven by associated output from the Permian Basin, the Energy Information Administration (EIA) is raising its forecast for domestic natural gas production in 2023, according to updated projections. EIA’s latest Short-Term Energy Outlook (STEO), published Tuesday, calls for U.S. natural gas production to average 100.4 Bcf/d next year, up from its month-earlier forecast for output…

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Bitter cold forecast for parts of Europe this week is set to bring the first major test of the winter heating season for the continent’s gas market and its robust storage inventories.  The UK’s National Balancing Point and the Dutch Title Transfer Facility (TTF) both gained about 3% on Tuesday and settled above $40/MMBtu. The…

The post Deep Freeze Arrives in Europe, Pushing Natural Gas Prices Higher – LNG Recap appeared first on Natural Gas Intelligence

Midland, TX-based completions expert ProPetro Holding Corp. is expanding electric-powered hydraulic fracturing fleets, aka e-fleets, after securing a three-year contract with a Permian Basin operator. The contracted equipment provided to the undisclosed operator would be deployed primarily to support simulated fracture operations. Initially, the operator would use ProPetro’s Tier IV dynamic natural gas blending dual-fuel…

The post ProPetro Expanding E-Fleet Fracturing Completions in Permian as Diesel Use Declines appeared first on Natural Gas Intelligence

Click here to listen to the latest episode of NGI’s Hub & Flow, in which NGI’s Patrick Rau, director of Strategy & Research, offers his expert insight into the infrastructure projects underway to accommodate rapid natural gas growth from the Haynesville Shale in Louisiana. The new capacity is moving south to the Gulf Coast, mostly…

The post As Haynesville Delivers Supply for Gulf Coast LNG, Could Gillis Become A Liquid Trading Hub? Listen Now to NGI’s Hub & Flow appeared first on Natural Gas Intelligence

Capital spending to increase 21%

Sempra Infrastructure has inked a sales and purchase agreement (SPA) with Engie SA, shoring up offtake for the first phase of its Port Arthur LNG project near Houston and agreeing to source supplies from producers whose gas has been certified by an independent third party. Sempra could supply France’s Engie 0.875 million metric tons/year (mmty)…

The post Sempra Signs LNG Deal with France’s Engie to Use Certified Natural Gas appeared first on Natural Gas Intelligence

Sempra Infrastructure has inked a sales and purchase agreement (SPA) with Engie SA, shoring up offtake for the first phase of its Port Arthur LNG project near Houston and agreeing to source supplies from producers whose gas has been certified by an independent third party. Sempra could supply France’s Engie 0.875 million metric tons/year (mmty)…

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Natural gas futures crumbled further on Monday as weather models continued to warm, perhaps even a bit too much. With production above 100 Bcf/d and Freeport LNG still offline, the January Nymex gas futures contract settled at $5.577/MMBtu, down a jaw-dropping 70.4 cents from Friday’s close. February futures slid 68.5 cents to $5.484. At A…

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Natural gas futures crumbled further on Monday as weather models continued to warm, perhaps even a bit too much. With production above 100 Bcf/d and Freeport LNG still offline, the January Nymex gas futures contract settled at $5.577/MMBtu, down a jaw-dropping 70.4 cents from Friday’s close. February futures slid 68.5 cents to $5.484. At A…

The post Natural Gas Bears Eye $5.50 as Forecasts Trend Even Warmer as LNG Demand Lags appeared first on Natural Gas Intelligence

The British government should introduce a price floor to mitigate the impact of its new windfall tax on the sector as some companies struggle with reduced access to funding, executives and industry sources say.

TC Energy Corp. is projecting U.S. natural gas demand to swell by over 27% by 2030 to about 115 Bcf/d versus 91 Bcf/d in 2021, with growth forecasted from LNG exports, power generation, industrial demand and pipeline exports to Mexico.  Although the expected growth is disproportionately led by liquefied natural gas exports, “nearly all sectors…

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TC Energy Corp. is projecting U.S. natural gas demand to swell by over 27% by 2030 to about 115 Bcf/d versus 91 Bcf/d in 2021, with growth forecasted from LNG exports, power generation, industrial demand and pipeline exports to Mexico.  Although the expected growth is disproportionately led by liquefied natural gas exports, “nearly all sectors…

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The Los Angeles City Council voted unanimously early this month to enact a ban on all new oil and natural gas drilling in every zone across the city and create a 20-year timeline to phase out exploration and production (E&P) at existing wells.  City Planning Case (CPC) 2022-4864-CA amends the Los Angeles Municipal Code (LAMC)…

The post As Los Angeles Bans New Oil, Natural Gas Drilling, Newsom Proposes to Penalize Industry Price Gouging appeared first on Natural Gas Intelligence

The Los Angeles City Council voted unanimously early this month to enact a ban on all new oil and natural gas drilling in every zone across the city and create a 20-year timeline to phase out exploration and production (E&P) at existing wells.  City Planning Case (CPC) 2022-4864-CA amends the Los Angeles Municipal Code (LAMC)…

The post As Los Angeles Bans New Oil, Natural Gas Drilling, Newsom Proposes to Penalize Industry Price Gouging appeared first on Natural Gas Intelligence

OMV has suggested nationalising its gas trading subsidiary.

Capital spending to increase 21%

Earlier ENGIE discussions to source LNG from the US were hampered by French environmental concerns. [Image credit: Sempra Infrastructure]

Santos Ltd. may be facing an extended delay before it can proceed with its $3.6 billion Barossa project to extend LNG exports from northern Australia after a federal court denied an appeal. The Barossa project, sanctioned last year, is intended to provide more gas supply for the 3.7 million metric ton/year Darwin LNG terminal, possibly…

The post Santos Facing Delays for Australian Natural Gas Project After Court Decision appeared first on Natural Gas Intelligence

Enbridge Inc. and a subsidiary of Occidental Petroleum Corp. are in the early stages of developing a carbon capture hub in the Corpus Christi area of South Texas, an LNG and oil export hub and home to several petrochemical facilities. Oxy Low Carbon Ventures (OLCV) and Calgary-based Enbridge signed a letter of intent to jointly…

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Plummeting natural gas futures continued to come under pressure in early trading Tuesday as the latest forecasts further weakened December heating demand expectations. The January Nymex contract was down 10.4 cents to $5.473/MMBtu at around 8:45 a.m. ET, adding to a 70.4-cent sell-off in the previous session. Fading weather-driven demand in the latest forecasts had…

The post Euro Weather Model Seen Shedding Demand Overnight as Natural Gas Futures Extend Losses appeared first on Natural Gas Intelligence

The paper assesses the various proposals and likely impact on European gas markets.

Europe has enjoyed an exceptionally warm early winter, but as temperatures get lower, the gas storage withdrawal slope going forward will depend on industrial demand destruction and how much supply China reroutes to Europe.

Europe’s cold snap sees gas demand surge – with the UK being the highest priced market as wind generation falls. French nuclear power starts to make a come comeback just as Sweden takes a plant offline.

Eastbound gas flows rose on Tuesday morning on the Yamal-Europe pipeline to Poland from Germany, having resumed in that direction last night, data from pipeline operator Gascade showed.

The exports were up 3.8% month/month, however.

Hungary is looking at several options to reduce its exposure to the risk of further cuts in Russian gas supply to Europe.

The Australian government on Tuesday delayed a key meeting of federal and state leaders called to discuss measures to contain soaring power prices after Prime Minister Anthony Albanese tested positive for COVID-19.

The Biden administration is convening a virtual meeting on Thursday with oil and gas executives to discuss how the United States can support Ukrainian energy infrastructure, according to a letter seen by Reuters.

The traded volumes were up 1,359% year/year.

More than $8 billion worth of gas, power, rail and mining projects across Australia, Mongolia and Papua New Guinea face delays following the collapse of engineering firm Clough on Monday.

Waitsia is one of the largest onshore gas fields ever discovered in Australia.