Day: May 12, 2023

Weekly natural gas cash prices fell again amid benign shoulder season weather and stout supplies. NGI’s Weekly Spot Gas National Avg. for the May 8-12 period slumped 15.0 cents to $1.715. The average dropped 30.0 cents the prior week. Production pulled back early in the week amid maintenance events and wildfires in western Canada. But…

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Last December, French utility giant EDF abandoned plans to build a 400-MW solar farm near Williamsport, Ohio. The reason was strong local opposition against the project. In Ocean City, New Jersey, a project to connect an offshore wind farm to the land …

After losses in the two previous sessions, natural gas futures flailed into Friday, losing ground early as forecasts pointed to weak weather-driven demand and supplies remained robust. But the prompt month bounced back in early afternoon trading after the latest Baker Hughes Co. (BKR) data showed natural gas-directed rigs dropped by 16 to 141. The…

The post Once Listless Natural Gas Futures Surge After ‘Massive’ Drop in Rig Count; Spot Prices Weaken appeared first on Natural Gas Intelligence

As the world begins to feel the urgency of the decarbonization imperative, more investing dollars and public support are available than ever before for renewable energy research and development. As a result, even some of the most futuristic and far-fet…

With the support of a major consumer group, U.S. regulators have reintroduced bicameral legislation aimed at supporting FERC in addressing energy market manipulation. S.1410, better known as the Energy Consumer Protection Act of 2023, would provide the Federal Energy Regulatory Commission with tools to enforce existing laws by allowing them to ban companies from trading…

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Natural gas forward prices found some footing during the May 4-10 period as the majority of U.S. locations were supported by strong power burns and easing production, according to NGI’s Forward Look. Key Northeast markets, however, continued to slide ahead of a multi-week span of mild weather that may expand already plump storage inventories in…

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A natural gas storage project with capacity of up to 5 Bcf is under development in the northern Mexican state of Tamaulipas, José Ramón Silva Arizabalo, the state energy commissioner, told NGI Mexico’s GPI.  “This project will be developed in a depleted oil and gas field known as the Brasil field,” Silva told NGI Mexico’s…

The post Natural Gas Storage Project, Fertilizer Plant Planned for Tamaulipas, State Energy Commissioner Says appeared first on Natural Gas Intelligence

The Environmental Protection Agency (EPA) on Thursday unveiled a set of proposed rule changes designed to substantially reduce greenhouse gas (GHG) emissions from natural gas and coal-fired power plants. The updates would strengthen the current New Source Performance Standards (NSPS) for newly built gas-fired combustion turbines, and establish guidelines to curb emissions from existing coal…

The post EPA Proposal Calls for Natural Gas, Coal Power Plants to Curb Emissions with CCS or Hydrogen appeared first on Natural Gas Intelligence

In a potential sign of low commodity prices finally catching up with upstream operators, the U.S. natural gas rig count plummeted during the week ended Friday (May 12), dropping 16 rigs to end the period at 141, according to data from Baker Hughes Co. (BKR). Prior to the latest BKR tally, the U.S. natural gas…

The post U.S. Operators Shed 16 Natural Gas Rigs as Weak Prices Impact Upstream Activity appeared first on Natural Gas Intelligence

ONEOK will buy Magellan Midstream Partners in a cash-and-stock deal valued at $18.8 billion, creating a combined U.S. oil and gas pipeline giant with a total enterprise value of $60 billion, the two major pipeline operators said on Sunday. Under a merg…

Over the last year or so, probably the most spectacular move in any energy-related market has been the collapse of natural gas (NG). The price of front-end futures in the commodity peaked in August last year at just a shade over $10 before turning tail…

Turkey’s incumbent president Recep Tayyip Erdogan failed to secure 50% of the votes in yesterday’s election, heading for a runoff with closest rival Kemal Kilicdaroglu. This is shaping up to be a tough battle for the Turkish president, who has been in …

The total number of total active drilling rigs in the United States fell by 17 this week, according to new data from Baker Hughes published Friday, after falling by 7 last week. It is the largest single-week drop in the number of oil and gas rigs in th…

Cash flow and earnings higher despite generally weaker commodity prices.

The amount of LNG floating on vessels at sea for extended periods is ticking above average levels, particularly in Asia, as buyers continue to shun cheap spot cargoes amid weak demand. The volume of liquefied natural gas in floating storage, generally considered on board a vessel for 20 days or more, has been creeping upward…

The post LNG Cargoes Stall at Sea as High European, Asian Storage Outweighs Rock Bottom Prices appeared first on Natural Gas Intelligence

Spire Energy Inc.’s storage arm has added to its fleet with the $37 million purchase of Salt Plains Storage LLC in Oklahoma, part of a broader strategy to expand the midstream position. The 10 Bcf Spire Storage Salt Plains facility in Manchester is near Oklahoma’s border with Kansas in Grant County. It connects to Southern…

The post Spire Storage’s Oklahoma Midstream Facility ‘Natural Fit’ Amid Supply Flexibility Interest appeared first on Natural Gas Intelligence

Natural gas futures advanced most of Thursday, bolstered by a modestly bullish storage print and lighter production. But with new demand drivers proving elusive, the June Nymex gas futures contract ultimately petered out and settled at $2.190/MMBtu, down one tenth of a cent day/day. July ticked up nine-tenths of a cent to $2.345. Cash prices…

The post Absent Catalysts, Natural Gas Futures, Cash Prices Tread Lightly appeared first on Natural Gas Intelligence

With the market still left waiting for convincing signs of early summer heat, natural gas futures eased lower in early trading Friday. The June Nymex contract was down 2.2 cents to $2.168/MMBtu at around 8:50 a.m. ET. The Energy Information Administration (EIA) on Thursday reported a 78 Bcf injection into U.S. natural gas storage facilities…

The post Natural Gas Futures Ease Lower Amid Continued Mild Temps; Coal-to-Gas Switching Supportive appeared first on Natural Gas Intelligence

The Floating Production Storage and Offloading (FPSO) vessel for the Greater Tortue Ahmeyim (GTA) gas project left Singapore for Senegal-Mauritania waters on Thursday, the Senegalese energy ministry said.

Several parts of North America are at elevated risk of energy shortfalls this summer during periods of extreme air conditioning demand, according to the organization responsible for the reliability of the North American power grids.

There is, indeed, little new under the sun, as our stories repeatedly demonstrate. Natural Gas – 100 Years Ago Today, May 12, 1923. Read our 100-year old news items on the subjects of a giant gas gusher, the best fuel open Earth, a big well coming soon, a witty debate with NIMBYs and a stove for the mountains? Continue reading →

The post Natural Gas – 100 Years Ago Today, May 12, 1923! appeared first on Natural Gas Now.

The partnership aims to jointly develop opportunities across the LNG value chain, including LNG infrastructure projects and trading. [image: KN]

Jemena will undertake a pre-FEED study to build and operate a gas pipeline from the Mahalo North gas project to Jemena’s Queensland Gas Pipeline (QGP).

The U.S. Department of Energy’s refusal to grant export permit extensions to liquefied natural gas (LNG) developers that fail to meet a construction deadline poses a new hurdle for greenfield plants, analysts said on Thursday.

Shell has suspended production at its Prelude floating LNG facility off Western Australia due to a trip, a Shell spokeswoman said on Friday. [Image: Shell]

Funds raised and existing capital will go towards the development of Tlou’s power projects in Botswana.

The blocks, Amrit and Moonga, were won by the company in recent open acreage licensing rounds. [Image: ONGC]