Day: April 3, 2023

Natural gas futures fell Monday, kicking off the new month much in the way 2023 has gone so far – under pressure from strong production, modest weather-driven demand and stout storage supplies. At A Glance: Prompt month sheds 11.9 cents Production, supplies robust Weakening weather outlook The May Nymex gas futures contract settled at $2.097/MMBtu,…

The post Downward Price Pressure Mounts Anew on Natural Gas Futures; Spot Market Advances appeared first on Natural Gas Intelligence

Click here to listen to the latest episode of NGI’s Hub & Flow podcast. NGI’s Patrick Rau, director of strategy and research, discusses the slow pace of final investment decisions for U.S. LNG projects, as well as the potential for longer-term challenges for future U.S. liquefaction projects. Rau also touches on how Chesapeake Energy Corp.’s…

The post How Are Growing LNG Exports Impacting U.S. Natural Gas? – Listen Now to NGI’s Hub and Flow appeared first on Natural Gas Intelligence

Though lingering chilly weather may bolster demand in some parts of the country in April, stubbornly high production and unseasonably strong storage inventories sent natural gas bidweek prices tumbling. NGI’s April Bidweek National Avg. dropped 69.0 cents month/month to $2.180/MMBtu. Some of the biggest decreases were seen in the western United States, where losses of…

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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…

The post Appalachian Producer, Midstreamer Receive Project Canary Certification appeared first on Natural Gas Intelligence

European Union regulators have delivered on the promise of a new LNG benchmark for the region in the hopes of increasing price transparency and deflating similar price surges that rocked markets last year. The European Union Agency for the Cooperation of Energy Regulators (ACER) reported its first liquefied natural gas benchmark price Friday. ACER has…

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The surprise decision over the weekend by OPEC-plus countries to further cut crude production helped keep a rally in European natural gas prices alive as concerns over fuel supplies again bubbled up as the week got underway. The slump in natural gas prices amid a mild winter has made the fuel more competitive with oil…

The post OPEC-Plus Oil Cuts Keep Pressure on European Natural Gas Prices – LNG Recap appeared first on Natural Gas Intelligence

Europe’s energy crisis is likely to “influence the LNG supply and demand balance through the end of this decade and beyond,” according to Excelerate Energy Inc. CEO Steven Kobos.  But beyond import terminals in Europe, Excelerate also is maintaining long-term focus on the continued strength of its South American liquefied natural gas business. Three of…

The post Excelerate Keeping LNG Import FSRU in Argentina Through Southern Cone Winter appeared first on Natural Gas Intelligence

Ovintiv Inc. signaled last month that the focus this year would be Permian Basin oil, and on Monday, the Denver independent advanced those ambitions by striking a nearly $4.3 billion cash-and stock deal to build West Texas inventory.  “Substantially all leasehold interest and related assets” were acquired from companies managed by private equity (PE) giant…

The post Ovintiv Builds Permian West Texas Options, Dumps Bakken in Twin Deal with EnCap appeared first on Natural Gas Intelligence

Wilde Lake compressor station receives first gas. [Image: Coastal GasLink]

The Bureau of Land Management (BLM) is proposing to change how public lands are managed to put conservation on equal footing as other uses, including oil and natural gas extraction. The BLM plan for conservation leasing would entail a time-limited lease of public land that allows interested organizations to conduct specific restoration or mitigation activities.…

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Canadian producer now has 56.5% interest in declining offshore project. [Image: Vermilion Energy]

Acquisition will boost Denver producer’s oil weighting to 65% from 55%.

A four-fold increase in US LNG exports could reduce emissions by 1bn mt/yr. [Images: Canadian Gas Association]

Ukraine’s state-run gas transit operator GTSO and Slovak operator Eustream have agreed to extend until Sept. 30 a daily 42 million cubic meters (mcm) gas import route for Ukraine, GTSO said on Monday.

Saudi Arabia said Sunday it would further scale back crude production by 500,000 b/d from May through the end of the year, leading a broader OPEC-plus effort to curb supplies and bolster prices. In total, the Saudi energy ministry said the group of producer countries would cut more than 1 million b/d. This would come…

The post Saudi Arabia, Allied Producers Announce Steep New Oil Output Cuts; $110 Price Potential appeared first on Natural Gas Intelligence

The LNG will be supplied through a virtual pipeline.

Qatar’s state-owned energy producer is looking to Eastern Canada to build exploration prospects after taking sizable stakes in ExxonMobil’s Newfoundland and Canada offshore acreage. QatarEnergy agreed to join ExxonMobil Canada in developing exploration licenses (EL) 1162 and 1167, both in the deep waters offshore Eastern Canada. While Eastern Canada is not known as a natural…

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U.S. natural gas prices last week plunged to a 30-month low, crossing below $2 per million British thermal units (mmBtu) for the second time this year, even as some producers have cut drilling to stave off further convulsions.

With prices already soft given a comfortable shoulder season supply cushion, significant warmer trends from weather models over the weekend sent natural gas futures tumbling in early trading Monday. The May Nymex contract was down 14.0 cents to $2.076/MMBtu at around 8:40 a.m. ET. Forecasts shifted “strongly warmer” over the weekend, with the American and…

The post April Forecast ‘Strongly Warmer’ as Natural Gas Futures Tumble Following Weekend Break appeared first on Natural Gas Intelligence

The company will progress the II and III phases of the Equatorial Guinea Regional Gas Mega Hub.

The Shale Gas News, heard every Saturday at 10 AM on 94.3 FM, 1510 AM, 1600 AM, 104.1 FM and Sundays on YesFM, talked about Lithium, Pittsburgh Airport, MWCD and much more last week. Continue reading →

The post Shale Gas News – April 1, 2023 appeared first on Natural Gas Now.

The LNG market will take time to normalise fully. Developing countries like Pakistan need support to double down on renewable energy, not slide back into a future based on coal. [Gas in Transition, Volume 3, Issue 2]

The Inpex-operated Ichthys project has a nameplate capacity of 8.9mn mt/yr. [Image: Inpex]

The pilot well programme at the Gurvantes XXXV coalbed methane project includes the drilling of three production wells and a six-month extended production test.

Proposals to stop Russian companies from sending liquefied natural gas to European Union nations were welcomed by EU Energy Commissioner Kadri Simson on Saturday.

China’s liquefied natural gas (LNG) imports fell sharply in 2022 because of the disruption caused by lockdowns to control the coronavirus epidemic and the massive exit wave of infections when they were lifted.

Dhamra is the only LNG import terminal in eastern India.