Day: February 28, 2023

In a display of technical trading at work, natural gas futures spent the majority of Tuesday’s trading session firmly in the red before a late rally sent the April Nymex gas futures contract 1.6 cents higher day/day to $2.747/MMBtu. May futures tacked on a penny to $2.863. Spot gas traded mostly sideways across the country,…

The post Late Buying Spree Propels Natural Gas Futures Higher for Fifth Straight Day; Cash Mixed appeared first on Natural Gas Intelligence

Freeport LNG Development LP this week asked federal regulators for approval to begin commercial operations from Train 1. “Freeport has performed a full pre-startup safety review of Train 1, identified and completed corrective work necessary to be able to safely restart the unit, and is ready to commence activities to safely restart Train 1, beginning…

The post Freeport LNG Requests Authorization to Restart Last Liquefaction Train appeared first on Natural Gas Intelligence

LNG vessel and floating storage and regasification unit (FSRU) operator Excelerate Energy Inc. is wading into offering fuel trading with a long-term agreement for offtake from Venture Global Inc.’s Plaquemines LNG. Texas-based Excelerate has inked a 20-year, 0.7 million metric ton/year sales and purchase agreement (SPA) for delivery on a free-on-board basis. Plaquemines LNG was…

The post FSRU-Operator Excelerate Nets Long-Term Offtake from Venture Global’s Plaquemines LNG appeared first on Natural Gas Intelligence

Targa Resources Corp. is bullishly pushing forward with expansion projects in the prolific Permian Basin, citing expectations for robust global oil and natural gas demand long term The Houston-based company expects momentum to push through 2023, a year in which global oil demand is projected by the International Energy Agency to grow and foundations are…

The post Targa Continues to Build Out Natural Gas Infrastructure, Pursue Acquisitions To Meet Enduring Demand appeared first on Natural Gas Intelligence

New Fortress Energy Inc. (NFE) is expecting to achieve first LNG from a floating liquefied natural gas production unit offshore Altamira, Mexico, in about 120 days, management said Tuesday. Construction is about 80% complete on the first of two “Fast LNG” or FLNG liquefiers to be deployed at Altamira. Each would boast a liquefaction capacity…

The post New Fortress Says First LNG Exports From Mexico Coming This Summer appeared first on Natural Gas Intelligence

California Resources Corp. (CRC) in 2023 is expecting to develop its highest-returning oil and natural gas projects with the permits it has in hand and a 1.5 rig program as it zeroes in on maintenance operations and builds its carbon management business.  “As any focused company should do, we continue to evolve. As we look…

The post California Resources Dropping Rigs, Production in 2023 as Independent Realigns Operations appeared first on Natural Gas Intelligence

Natural gas futures extended their gains on Monday as weather models continued to show cold over much of the Lower 48 for early to mid-March and Freeport LNG stayed on its path toward full operations. With some nascent technical momentum also in play, the newly prompt April Nymex natural gas contract settled at $2.731/MMBtu, up…

The post Natural Gas Futures Climb Fourth Straight Day as Models Tease More Cold appeared first on Natural Gas Intelligence

Pembina Pipeline Corp. is aiming to sanction the Cedar LNG export project proposed for Kitimat, British Columbia (BC), by the third quarter of this year, according to management. Calgary-based Pembina, a natural gas and liquids midstream player with assets mainly in Western Canada, is developing the 3 million metric tons/year liquefied natural gas project in…

The post Calgary’s Pembina Pipeline Eyeing Cedar LNG FID by Third Quarter appeared first on Natural Gas Intelligence

Its first Fast LNG floating LNG units are expected to be deployed this summer. [Image credit: New Fortress Energy]

Click here to listen to the latest episode of NGI’s Hub & Flow in which Senior Price and Markets Editor Leticia Gonzales joins Associate Editor Morgan Evans to discuss the unique natural gas price environment in California this winter.  Gonzales details how high natural gas prices soared in the Golden State, how they compared to…

The post What’s Driving California’s Record Natural Gas Prices? – Listen Now to NGI’s Hub & Flow appeared first on Natural Gas Intelligence

Montney assets in Canada accounted for 42% of production in 2022.

Acquisition expected to nearly double Baytex Energy’s total production.

LNG will come from the first phase of Venture Global’s Plaquemines LNG terminal. [Image credit: Venture Global]

Sempra Energy reported fourth-quarter profit that beat analysts’ estimates on Tuesday, helped by higher earnings from its California utilities.

Quantum Energy Partners and the Bison Oil & Gas management team have committed more than $500 million to launch another acquisition-minded explorer that would be focused on the Denver-Julesburg (DJ) Basin in Colorado and Wyoming. Bison has operated in the DJ since 2015, forming and monetizing several partnerships. Last year Civitas Resources Inc., the largest…

The post Quantum, Bison Commit $500M-Plus for Another DJ-Focused E&P appeared first on Natural Gas Intelligence

BP plc clinched a deal to sell 2.2 Bcf of certified natural gas this year to fertilizer giant CF Industries Holdings Inc. CF, which uses natural gas as feedstock, said the sale of the independently certified natural gas is the first of its kind for use in industrial manufacturing. Financial details of the transaction were…

The post BP to Sell CF Industries 2.2 Bcf of Certified Natural Gas to Decarbonize Ammonia appeared first on Natural Gas Intelligence

Deal will expand Canadian producer’s assets in Eagle Ford shale

Deal will expand Canadian producer’s assets in Eagle Ford shale

Deal will expand Canadian producer’s assets in Eagle Ford shale

The April-June period will be critical for determining how well Europe can prepare for next winter, according to Enel’s CEO.

Russia’s revenues from oil and gas exports dropped by nearly 40% in January as price caps and Western sanctions squeezed the proceeds from Moscow’s most lucrative export, the International Energy Agency said on Tuesday.

Natural gas futures pulled back in early trading Tuesday as a more supportive fundamental outlook, including chillier March temperatures, proved insufficient to extend the recent rally.  The April Nymex contract was down 8.6 cents to $2.645/MMBtu at around 8:50 a.m. ET. The April contract rallied 18.3 cents in Monday’s session as “fundamental support and bullish…

The post Natural Gas Futures Pull Back Early as Traders Shrug Off Supportive March Temps appeared first on Natural Gas Intelligence

U.S. oil major Chevron Corp on Tuesday raised its share buyback outlook to between $10 billion and $20 billion per year and reaffirmed its oil and gas production guidance of more than 3% annual growth by 2027.

Hydrogen has been hyped bigly as an alternative to natural gas, ignoring that the latter is the best source of the stuff, so why not use the real thing? Continue reading →

The post Hydrogen Hoopla All Hyperbole? appeared first on Natural Gas Now.

Fertilizer made with natural gas and the other necessities provided via fossil fuels are the objects of scorn by obsessive enviros who ache for primitive life. Continue reading →

The post Fertilizer Politics Reveal the Childishness of Many Enviros appeared first on Natural Gas Now.

U.S. oil producer Occidental Petroleum Corp on Monday said it would sharply raise spending this year, including on its direct air capture carbon-reduction project, which has been delayed to 2025.

apan plans to emphasise the importance of investments in natural gas, liquefied natural gas as well as cleaner fuels such as hydrogen and ammonia during the country’s presidency at the G7 summit later this year, a senior energy official said.

The partnership will evaluate a gravity-based structure as the basis for the GTA Phase 2 expansion project with a total capacity of between 2.5-3mn metric tons/year.

Bunkering for these 12 new vessels is expected to commence during the second half of 2023 and LNG will be supplied in the Port of Rotterdam. [Image: Shell]