Day: March 28, 2023

Beleaguered natural gas futures fell a second day, hampered again by robust supplies and weakening weather-driven demand. The April Nymex gas futures contract lost 5.8 cents day/day and closed at $2.030/MMBtu. May futures settled at $2.147, down 6.8 cents. NGI’s Spot Gas National Avg. slipped 9.5 cents to $2.470. Production held above 100 Bcf/d on…

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Calgary-based pipeline giant Enbridge Inc. has agreed to spend $1 billion in a U.S. development with Divert Inc. to turn food waste into renewable natural gas (RNG).  The investment is part of a plan to develop facilities in major U.S. regions within 100 miles of 80% of the population, according to the companies.  “The infrastructure…

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Mexico Pacific Limited LLC (MPL) and Shell plc have signed another offtake agreement for MPL’s Saguaro Energía LNG export terminal proposed for Puerto Libertad in Mexico’s Sonora State. MPL on Monday said it has agreed to supply another 1.1 million metric tons/year (mmty) of liquefied natural gas to an affiliate of Shell plc from its…

The post Mexico Pacific Adds New Offtake Deal, Still Working Toward Sanctioning of LNG Project appeared first on Natural Gas Intelligence

European Union (EU) energy ministers agreed Tuesday to advance a measure that would give members the option of banning Russian LNG imports.

The post EU Energy Ministers Advance Proposal to Limit Russian LNG Imports – The Offtake appeared first on Natural Gas Intelligence

Societe Generale pulled out of Texas-based energy company NextDecade’s Rio Grande Liquefied Natural Gas (LNG) project last year, the French bank disclosed for the first time on Tuesday, in news that could help explain the project’s repeated delays.

Enbridge Inc. said the start of construction on its Line 5 natural gas liquids and oil pipeline could be delayed until 2026 after the U.S. Army Corps of Engineers moved to extend the permitting process for its Michigan project. The Army Corps made the decision to extend the permitting process for the four-mile Great Lakes…

The post Another Enbridge Line 5 Permitting Delay Pushes Construction to 2026 appeared first on Natural Gas Intelligence

Natural gas futures kicked off the new week on a low note, slumping alongside warmer trends in weather forecasts, lighter LNG demand and continued robust production levels. At A Glance: Front month sheds 12.8 cents Production levels hold steady Weather outlook adds warmth The April Nymex gas futures contract settled at $2.088/MMBtu, down 12.8 cents…

The post Strong Production, Fading Demand Hold Down April Natural Gas Futures appeared first on Natural Gas Intelligence

Acquisition will add 600 drilling locations from Alberta’s oil- and liquids-rich Montney play to Crescent Point’s inventory

The European Union (EU) has been eyeing a boom in Eastern Mediterranean natural gas production to ease price volatility, but new research suggests more volumes could be a mid-term source of relief rather than a long-term solution. In a report for Columbia University’s Center on Global Energy Policy, the authors posit that as much as…

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Energy ministers propose rule giving governments an option to bar Russians from bidding on import infrastructure capacity.

Click here to listen to the latest episode of NGI’s Hub & Flow. NGI Managing Editor Carolyn Davis has a roundtable chat with editors Jacob Dick, Kevin Dobbs and Morgan Evans about what they learned at this year’s CERAWeek by S&P Global conference in Houston. The latest on natural gas prices, potential breakthroughs on U.S.…

The post What Did Our Editors Learn at CERAWeek 2023? – Listen Now to NGI’s Hub & Flow appeared first on Natural Gas Intelligence

Majority of Montney assets will be sold, remainder spun out to new subsidiary.

Baseload natural gas prices for April were poised to plummet from already low levels, with weather models taking a decidedly warmer turn as bidweek trading got underway Monday. Losses were stout in the Northeast, according to NGI’s Bidweek Alert (BWA), even with the region likely to see chilly weather linger over the next few weeks.…

The post Loose Supply/Demand Balances Weigh on April Baseload Natural Gas Prices; Permian Teetering on Edge appeared first on Natural Gas Intelligence

European Union countries agreed on Tuesday to extend for a year an emergency measure to voluntarily reduce their gas use, to help prepare for another European winter with scarce Russian supplies.

The U.S. natural gas market is predicted to be oversupplied this year from a warmer-than-normal start to the year and declining demand, which are likely to suppress prices into 2024. Energy analysts trimming their domestic natural gas price forecasts include BMO Capital Markets, Goldman Sachs Commodity Markets, Jefferies and Tudor, Pickering, Holt & Co. (TPH).  …

The post Slumping U.S. Natural Gas Prices Lead Energy Analysts to Lower Forecasts into 2024 appeared first on Natural Gas Intelligence

Rich Negrin is a man of words—big superfluous words of the type used to hide radicalism—and climate is apparently going to be his schtick as PA-DEP Secretary. Continue reading →

The post Climate Worship by Shapiro’s DEP Secretary Portends Dark Future appeared first on Natural Gas Now.

The work is expected to be completed by May 2025 and the terminal is likely to be commissioned in December of the same year.

Olympus Energy LLC, which also has a midstream arm, has become the first integrated natural gas producer to independently certify its natural gas, according to management. The Pennsylvania-based exploration and production company focuses on upstream and midstream natural gas resources in the Appalachian Basin. Subsidiary Hyperion Midstream also  gained verification for its gas emissions, both…

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Natural gas futures continued to grind lower in early trading Tuesday, weighed down by warmer-trending late-season forecast maps. The expiring April Nymex contract was down 4.0 cents to $2.048/MMBtu at around 8:40 a.m. ET. May was off 3.5 cents to $2.180. After falling below support at $2.12, the April contract is poised to continue drifting…

The post Sub-$2 Natural Gas Futures Seen in Play for April Contract as Forecasts Warm appeared first on Natural Gas Intelligence

Bans and regulatory uncertainty have made new supply investment very difficult, it said.

Oman’s OQ Gas Network, the pipelines business of the sultanate’s state oil giant OQ, has invited banks to pitch for bookrunner roles in its planned initial public offering (IPO), two sources close to the matter told Reuters

Renewable energy is headed for a fall in NY because it cannot possibly do what’s expected of it by those devoted to political correctness and virtue signaling. Continue reading →

The post Renewable Energy Crisis Coming and It’s Home Grown! appeared first on Natural Gas Now.

If the deal goes through, BP and ADNOC would each hold 50% of NewMed Energy.

The decline reflects lower exports to the European market.

The European Union has agreed to extend a price cap set on natural gas used for power generation in Spain and Portugal until December 31, a spokesperson for the Spanish Energy Ministry said on Tuesday.

The Bibiyana-III plant is one of Bangladesh’s largest CCGT power plants owned by the Bangladesh Power Development Board. [Image: MHI]

Australia’s lower house on Monday passed an emissions reduction plan with curbs on some new gas and coal investments and a cap on total greenhouse gas emissions from the country’s biggest polluters after a key deal with the Greens Party.

Oman’s OQ Gas Network, the pipelines business of the sultanate’s state oil giant OQ, has invited banks to pitch for bookrunner roles in its planned initial public offering (IPO), two sources close to the matter told Reuters.

Coro wants to focus on its southeast Asian projects.