Day: April 20, 2023

Earlier this month, in an op-ed for the Financial Times, the head of the International Energy Agency, Fatih Birol, wrote that renewable energy was expanding faster than many thought. The energy crisis sparked by the war in Ukraine, he said, was reshapi…

U.S. natural gas production is booming. The country is pumping so much of the commodity that prices have dropped to multi-year lows after last year, soaring to over $7 per mmBtu amid the European energy crunch. Now, U.S. benchmark gas is trading around…

Natural gas futures edged up on Thursday as weather models aligned better in showing cooler weather returning every few days or so through early May across the Lower 48. With EIA data indicating that balances remain too loose, however, the May Nymex gas futures contract only managed a 2.7-cent gain to $2.249/MMBtu. Spot gas traded…

The post Persistent Chill Lends Support to Natural Gas Futures Despite Bearish Storage Data appeared first on Natural Gas Intelligence

Drawing support from spring chills and a strengthening weather-driven demand outlook, regional natural gas forwards generally gained ground during the April 13-19 trading period, though a few western hubs moderated sharply week/week. May fixed prices at Henry Hub climbed 12.9 cents to end the period at $2.225/MMBtu, mirroring gains in Nymex futures and setting the…

The post April Chills Bolster Natural Gas Forwards, Though Some Western Hubs Moderate appeared first on Natural Gas Intelligence

The International Renewable Energy Agency (IRENA) has warned that the world is currently off track to meet its climate goals and prevent the worst impact of the climate emergency. IRENA said that significant work would need to be done to redirect the c…

North American natural gas prices rallied slightly on colder April weather this week but still stayed close to $2.000/MMBtu. On Thursday, the May New York Mercantile Exchange gas futures contract managed a 2.7-cent gain and closed at $2.249. “While a cooler than normal U.S. pattern is expected for late April into the start of May,…

The post North American Natural Gas Markets Well Supplied with Production on Both Sides of Border – Mexico Spotlight appeared first on Natural Gas Intelligence

Global inventories of liquefied natural gas have increased this month driven by weaker demand, Reuters has reported, noting demand is about to recover in the summer. At 550,000 ton as of April 20, per Kpler data, LNG in floating storage around the worl…

EQT Corp. is launching a nature-based carbon offset initiative, a first for the No. 1 natural gas producer in the United States, to reduce emissions from the atmosphere.  The Pennsylvania-based independent is partnering with the Wheeling Park Commission in West Virginia, along with Teralytic and Climate Smart Environmental Consulting LLC, to begin the carbon offset…

The post EQT’s Unique Carbon Offset Initiative Turning to Nature to Trim Reductions appeared first on Natural Gas Intelligence

Via AG Metal Miner The Stainless Monthly Metals Index (MMI) fell 7.53% from March to April. Downside momentum continued to pressure the nickel market, sending prices down into support zones. Meanwhile, no bullish reversal patterns have formed, leaving …

Canada’s top natural gas producer, Tourmaline Oil Corp., has inked an agreement with Clean Energy Fuels Corp. to build out a network of compressed natural gas (CNG) stations in Western Canada.  As part of the joint development agreement, California-based Clean Energy and Tourmaline would each contribute $26.2 million to construct up to 20 CNG stations…

The post Clean Energy, Tourmaline Building Out Canada CNG Fueling Network appeared first on Natural Gas Intelligence

Despite a precipitous slide in global natural gas prices over the last year and easing demand, buyers in Europe and Asia are likely to face a tighter market for years to come. For much of the week, liquefied natural gas to Asia held under $13/MMBtu while the prompt Dutch Title Transfer Facility moved closer to…

The post Global Natural Gas Market Still Faces Risks Despite Supply Glut appeared first on Natural Gas Intelligence

Purdue University’s research shows promise for developing high-energy-density rechargeable lithium-metal batteries and addressing the electrochemical oxidation instability of ether-based electrolytes. The research was conducted by Purdue University’s V…

Despite all the talk about phasing out oil and gas and a ‘just transition’, government reports show that the Canadian oil and gas sector is short tens of thousands of workers. Asked by Canadian Member of Parliament Martin Shields, Labour Minister  Seam…

Things are heating up in Florida over the widespread gasoline shortages plaguing the state, with Republicans calling out other Republicans for not finding a resolution to the problem already. In a video clip that Marco Rubio shared on Twitter on Sunday…

Despite all the talk about phasing out oil and gas and a ‘just transition’, government reports show that the Canadian oil and gas sector is short tens of thousands of workers. Asked by Canadian Member of Parliament Martin Shields, Labour Minister  Seam…

Germany’s group of storage operators is warning that natural gas supplies could be significantly drained or emptied next winter if the country doesn’t experience another mild heating season. Despite ending winter with above average storage, moderate winter temperatures between next October to May 2024 could “heavily” deplete Germany’s supplies, researchers with the German Gas Storage…

The post Germany Said Still at Risk for Natural Gas Supply Shortfalls Next Winter  appeared first on Natural Gas Intelligence

Crude oil prices hit a three-week low on Thursday, trading down over 2.5% amid a significant uptick in gasoline inventories and continued fears of recession countering demand growth. At 1:15 p.m. EST on Thursday, Brent crude had shed 1.99%, trading at …

Officials from the G7 group of the world’s most industrialized nations are discussing the idea of an outright ban on nearly all exports to Russia in another move aimed at hurting the Russian economy over Putin’s invasion of Ukraine, sources with knowle…

Officials from the G7 group of the world’s most industrialized nations are discussing the idea of an outright ban on nearly all exports to Russia in another move aimed at hurting the Russian economy over Putin’s invasion of Ukraine, sources with knowle…

South Africa’s energy sector is in a state of disarray. Once one of the most reliable utilities in Africa, Eskom – the country’s state-owned power utility – now exists in a state of constant emergency which is currently threatening to push the country …

The U.S. Energy Information Administration (EIA) said natural gas storage inventories for the week ending April 14 increased by a larger-than-normal 75 Bcf, indicating that supply/demand balances remain far too loose. At A Glance: BREAKING: U.S. EIA reports 75 Bcf injection Surpluses seen expanding further Pipeline work fuels Western cash The May Nymex gas futures…

The post Natural Gas Futures End Three-Day Rally, Slide Ahead of Larger-Than-Expected Storage Build appeared first on Natural Gas Intelligence

Officials from the G7 group of the world’s most industrialized nations are discussing the idea of an outright ban on nearly all exports to Russia in another move aimed at hurting the Russian economy over Putin’s invasion of Ukraine, sources with knowle…

NATO Secretary-General Jens Stoltenberg has visited Kyiv for the first time since Russia’s invasion last year, telling Ukrainians their country’s future belongs in the alliance as President Volodymyr Zelenskiy proclaimed that “it is time” an invitation…

NATO Secretary-General Jens Stoltenberg has visited Kyiv for the first time since Russia’s invasion last year, telling Ukrainians their country’s future belongs in the alliance as President Volodymyr Zelenskiy proclaimed that “it is time” an invitation…

Russia’s invasion of Ukraine and the temporary blockage of its Black Sea ports have redirected the flow of grain from Ukraine.  One of the world’s leading producers of wheat, corn and vegetable oils, Ukraine shipped much of its grain internationally pr…

The world’s largest toy maker, Lego, and pharmaceutical giant Novo Nordisk have reached a deal with renewable firm European Energy to procure methanol produced from renewable energy to replace part of their fossil fuel-derived plastics production.    D…

The U.S. Energy Information Administration (EIA) said natural gas storage inventories for the week ending April 14 increased by a larger-than-normal 75 Bcf, indicating that supply/demand balances remain far too loose. The May Nymex gas futures contract was trading slightly lower day/day at $2.210/MMBtu early in Thursday’s session and slipped under $2.200 as the EIA…

The post Natural Gas Futures Prices Slip After EIA Reports Plump Storage Build, Expanding Surpluses appeared first on Natural Gas Intelligence

On March 30, Azerbaijan officially inaugurated its first embassy in Tel Aviv, Israel, after avoiding the move for three decades. Although the decision highlighted the importance of Azerbaijani-Israeli relations, it quickly became a catalyst behind the …

Overall natural gas demand slipped in the first quarter and prices dropped, but Kinder Morgan Inc. (KMI) said its natural gas pipeline business forged ahead and fueled earnings amid a shortage of new infrastructure that maximized the value of its existing network. “The world needs reliable and affordable energy to advance human development, and it…

The post Shortage of New Natural Gas Infrastructure Powering Growth for Kinder Morgan; LNG to Fuel Future Strength appeared first on Natural Gas Intelligence

Concerns about power shortages could force China to rely more on coal to keep grids stable amid the growing demand for electricity, including from the rising electric vehicles (EV) fleet, analysts at ANZ Group say. The rise in EV sales in the world’s l…

Denmark on Thursday lifted restrictions on sailing in waters near the Nord Stream pipeline leaks in the Baltic Sea and said it was no longer dangerous for ships to navigate in the area.

Pakistan has placed its first order for discounted Russian crude oil, a move that could potentially reduce the country’s reliance on Middle Eastern oil producers. The order amounts to around 100,000 barrels per day (bpd) of Russian crude oil, which doe…

The three-year La Nina that ended in March could give way to hotter temperatures in Asia this summer and boost consumption of natural gas and other fossil fuels across the region. The U.S. Climate Prediction Center last week increased the probability of El Niño weather conditions emerging between June and August to 75%.  While the…

The post El Niño Could Bring Scorching Temperatures This Summer, Boost Asian LNG Demand appeared first on Natural Gas Intelligence

Bakken Shale natural gas prices remain at their lowest levels since the height of the pandemic, according to North Dakota’s Department of Mineral Resources (DMR). The price of natural gas delivered to the Northern Border pipeline system at Watford City, ND, stood at $1.75/Mcf as of Monday (April 17). “There is currently enormous oversupply in…

The post Bakken Natural Gas Prices Languishing Below $2 as Production Recovers appeared first on Natural Gas Intelligence

Natural gas futures gained back a couple pennies in early trading Thursday as the market prepared to assess the latest government inventory data, expected to show a larger-than-average springtime injection. Coming off a 14.4-cent swoon in the previous session, the May Nymex contract was up 2.7 cents to $2.249/MMBtu at around 8:45 a.m. ET. Predictions…

The post Surplus-Growing Injection Expected from EIA as Natural Gas Futures Pare Losses Early appeared first on Natural Gas Intelligence

Pakistan expects to receive in May its first cargo loaded with discounted Russian crude after placing its first order for oil from Moscow under a new bilateral deal, Pakistan’s Petroleum Minister Musadik Malik told Reuters. For several months, Pakistan…

Chinese authorities are expected to give much lower fuel export allowances to refiners in the second batch of quotas in the coming weeks amid rising domestic demand, a Reuters survey of state refiners and consultancies showed on Thursday. Following a r…

The European Union and Norway aim to work together to develop infrastructure to capture and store CO2 emissions and scale up renewable hydrogen production in Europe, according to a draft “alliance” plan.

New York is nothing if not politically correct and its offshore wind virtue signaling amounts to a stampede over the cliff for New Yorkers who pay the bills. Continue reading →

The post Offshore Wind: The Great Stampede Over the Long Island Cliff appeared first on Natural Gas Now.

The imports were down 10.6% month/month.

Russian energy giant Gazprom has asked the government to liberalise wholesale gas prices for domestic industrial consumers in some regions as it faces a steep decline in exports, Kommersant daily reported on Thursday.

Gasoline demand in major economies in Southeast Asia is showing signs of weakness just as the peak fuel demand for travel has begun, traders have told Bloomberg, which could be a concern about global oil demand. Indonesia, a large market for gasoline, …

The LNG imports cost $1.5bn last month.

Demand worries outweighed supply concerns this week to push down oil prices, reinforced by heightened expectations of more U.S. rate hikes that lifted the greenback. In morning trade in Asia oil was down for the third day out of the last four, despite …

Upon completion, the nearshore LNG plant will increase Petronas’ LNG production from floating LNG facilities from 2.7mn mt/yr to 4.7mn mt/yr.

Kinder Morgan Inc on Wednesday beat profit expectations for the first quarter as the U.S. pipeline operator transported higher volumes of natural gas primarily from Haynesville and Eagle Ford systems.

Mitsui believes that natural gas and LNG will play an important role as a “pragmatic solution” for the energy transition. [Image: Mitsui & Co.]

The sales revenue was lower due to lower production, sales volume and realised oil price.

Six FSRUs are due to be online spread over four sites by the end of 2023.

Previously, we reported that energy agencies have been growing more bearish with their forecasts on oil demand growth with four experts including  IEA and OPEC Secretariat giving divergent views. Alarmingly, the normally bullish U.S.-based Energy Infor…