Day: March 30, 2023

May natural gas futures moved to the front of the curve for the first time Thursday and took a beating after a bearish storage print affirmed supply/demand imbalance concerns heading into shoulder season. The May Nymex gas futures contract lost 8.0 cents day/day and settled at $2.104/MMBtu. June fell 9.0 cents to $2.358. NGI’s Spot…

The post Bears Maul May Natural Gas Futures, Squashing Front Month Debut; Cash Prices Climb appeared first on Natural Gas Intelligence

On its first day as the prompt month, the May New York Mercantile Exchange natural gas futures contract lost 8.0 cents day/day on Thursday and settled at $2.104/MMBtu. June fell 9.0 cents to $2.358. On Wednesday, April futures fell 3.9 cents day/day to roll off the books at $1.991/MMBtu, the lowest price all month. U.S.…

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The selloff continued for the majority of U.S. natural gas forward markets in the final week of March as production proved too lofty amid declining weather-driven demand and healthy inventory levels.  The April contract rolled off the board between 10 and 20 cents lower, while the May contract – which took over the prompt-month position…

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Venture Global LNG Inc. has notified FERC and customers of technical problems at its Calcasieu Pass LNG terminal in Louisiana that could further delay the facility’s launch of commercial operations. In a recent filing to the Federal Energy Regulatory Commission, representatives of the Virginia-based midstream developer wrote that during routine tests last year, the facility…

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Plummeting natural gas prices, workforce shortages, cost inflation and frustration with federal policies are a few of the challenges giving U.S. oil and gas executives headaches, according to a new survey conducted by the Federal Reserve Bank of Dallas. The Dallas Fed, as it is better known, collected responses from 147 firms from March 15-23…

The post Natural Gas Price Uncertainty, Federal Policies Escalating Unease for U.S. E&Ps, OFS appeared first on Natural Gas Intelligence

Denver-based PureWest Energy LLC has completed a blockchain-verified digital token transaction with Proman to help the Swiss-based methanol producer reduce its natural gas-heavy global emissions footprint. Made possible through a partnership with Project Canary and EarnDTL, PureWest’s emissions data was minted into transactable, certified environmental tokens (CET) to help Proman reduce global customers’ Scope 3…

The post PureWest, Proman Using Certified Digital Tokens to Reduce Methanol’s Carbon Footprint appeared first on Natural Gas Intelligence

Freeport LNG on Thursday was poised to take feed gas to levels not seen since before an explosion and fire knocked the plant offline last June, according to data tracked by NGI.  Feed gas nominations made during Wednesday’s evening cycle for the March 30 gas day showed that Freeport LNG Development LP had scheduled 1.9…

The post Freeport Feed Gas Deliveries at Highest Point Since Explosion, Indicating All Trains Operating appeared first on Natural Gas Intelligence

The April Nymex natural gas futures contract floundered on its final day as the front month – a third consecutive loss – as the intersection of robust production and waning demand again captured traders’ attention. April futures on Wednesday fell 3.9 cents day/day to close at a monthly low of $1.991/MMBtu. It then rolled off…

The post Expiring April Natural Gas Futures Fell Below $2 as Downward Price Pressure Endures appeared first on Natural Gas Intelligence

U.S. liquefied natural gas (LNG) company Freeport LNG’s export plant in Texas was on track to pull in as much natural gas from pipelines as the facility can process into LNG, a sure sign that it was back at full power, according to data provider Refinitiv.

The U.S. Energy Information Administration (EIA) posted a withdrawal of 47 Bcf natural gas from storage for the week ended March 24. The result fell short of median estimates in polls while inventories remained well above average levels. Natural gas futures faltered in the wake of the report. Ahead of the print, May Nymex futures…

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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.…

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The state-owned company’s oil and gas hit all-time high last year.

Thirty-two companies participated in the first U.S. offshore natural gas and oil auction in almost two years on Wednesday, with producers vying for several deepwater blocks. ExxonMobil also bolted on more shallow water tracts, signaling that a $10 billion carbon capture project may be proceeding.Gulf of Mexico (GOM) Lease Sale 259 bids encompassed high bids…

The post First Natural Gas, Oil Auction Since 2021 Draws Bids in GOM’s Deep and Shallow Waters appeared first on Natural Gas Intelligence

The U.S. Court of Appeals for the Fourth Circuit has upheld a crucial water quality permit issued to the Mountain Valley Pipeline (MVP) by Virginia state regulators, keeping the project on track to potentially resume and complete construction later this year. However, a forthcoming ruling on a water quality permit issued by the state of…

The post Court Upholds Virginia’s MVP Water Permit, But Ruling Forthcoming on West Virginia Approval appeared first on Natural Gas Intelligence

Despite expectations for a rare surplus-shrinking result from the latest government inventory data, natural gas futures skidded lower in early trading Thursday as forecasts pointed to mild springtime demand that would preserve a healthy storage cushion. The May Nymex contract was down 6.1 cents to $2.123/MMBtu at around 8:45 a.m. ET. Expectations for Thursday’s Energy…

The post Natural Gas Futures Slide Ahead of Tight Withdrawal from EIA as Forecasts Trend Milder appeared first on Natural Gas Intelligence

Natural gas storage levels in Spain were at a record 78% of capacity at the end of the winter, national gas grid operator Enagas’ Chief Executive Arturo Gonzalo Aizpiri said on Thursday.

Our guest blogger, Gordon Tomb, recently gave an excellent presentation to the Pennsylvania Independent Oil & Gas Association and the full text follows. Continue reading →

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In the three decades since the Rio Summit created the UNFCC, global climate policy has seen a hodge-podge of accords, mandates and protocols. That has produced another hodge-podge of national aspirations, but little in the way of concerted, co-ordinate…

For each ship, the company will supply its Compact Reliq Single Booster reliquefaction system.

Britain’s greenhouse gas emissions fell by 2.2% in 2022 compared with 2021 levels as warmer temperatures led to a dip in fuel use for heating, provisional government data showed on Thursday.

A natural gas pipeline that was being repaired in northern Siberia caught fire on Wednesday but there was no disruption to supplies, Tass news agency cited Gazprom as saying.

Samsung Heavy will deliver the FLNG unit to an Asian company. [Image: GTT]

Environmental quality is a corollary of freedom as the United States has demonstrated but the Biden Administration is destroying both in its totalitarian drive. Continue reading →

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