Day: June 6, 2023

After back-to-back gains fueled by bullish weather forecasts, natural gas futures extended the rally to three sessions on Tuesday. The July Nymex gas futures contract settled at $2.262/MMBtu, up 1.7 cents day/day. August rose 1.5 cents to $2.381. NGI’s Spot Gas National Avg. gained 4.0 cents to $1.940. National Weather Service (NWS) data on Tuesday…

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Toronto-based Superior Plus Corp. has completed its merger with fuels distributor Certarus Ltd., handing it natural gas and hydrogen distribution assets across North America.  The propane and distillates distributor and marketer has expanded into compressed natural gas (CNG), renewable natural gas (RNG) and hydrogen delivery with Certarus’ network of bulk compression stations and mobile storage…

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Indonesia may prohibit new LNG export contracts and contract renewals in the future to divert gas to meet domestic industrial demand, a government official said. “We have been exporting LNG for many years, but now we need it, as it turns out. We don’t want to export anymore,” Indonesia’s Coordinating Maritime Affairs and Investment Minister…

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Mexico’s natural gas production is poised to continue growing, according to one of the nation’s top energy authorities. Speaking at the Mexico Gas Summit in San Antonio, TX, on Tuesday, Comisión Nacional de Hidrocarburos (CNH) Commissioner Hector Moreria said the “the outlook for the sector is very positive.” Moreira said that private sector investment in…

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Natural gas prices will rise this summer as power sector demand increases and production growth slows, according to updated projections from the Energy Information Administration (EIA). After averaging $2.15/MMBtu in May, Henry Hub spot prices will climb to an average of slightly above $2.60 for 3Q2023, EIA said in its latest Short-Term Energy Outlook (STEO),…

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Natural gas futures rallied on Monday as production slipped, expectations for strong cooling demand increased and a cut to global oil supplies created potential support for LNG prices. Coming off a 1.4-cent gain Friday, the July Nymex gas futures contract gained 7.3 cents day/day and settled at $2.245/MMBtu to start the new trading week. August…

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Natural gas futures and options trade rose to 5.7mn contracts, Intercontinental Exchange said.

China is on track to re-export the highest annual amount of LNG since it started importing the super-chilled fuel in 2006 as the country’s major buyers get more active in the spot market and domestic demand remains weak. According to Kpler data, China has sold more than 0.40 million tons (Mt) of LNG year-to-date, up…

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Natural gas and oil drilling will not be allowed on public lands within 10 miles of New Mexico’s Chaco Culture National Historical Park for 20 years following a decision by the Biden administration. Interior Secretary Deb Haaland issued the land order on Friday (June 2). The order only applies to public lands and federal mineral…

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New natural gas and oil drilling permits almost doubled in May in one portion of the Permian Basin in Texas, but overall, activity was down sharply in the state. The Railroad Commission of Texas (RRC) issued 65 natural gas and oil drilling permits for the San Angelo district, aka District 7C, a nearly 97% increase…

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As cooler overnight forecast trends sapped the momentum from an early-week rally, natural gas futures were down in morning trading Tuesday. After rallying 7.3 cents in the previous session, the July Nymex contract was off 5.9 cents to $2.186/MMBtu at around 8:40 a.m. ET. After trending hotter over the weekend, weather models reversed cooler overnight,…

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The Gorgon project is involved in exporting LNG to customers in the Asia Pacific region, as well as supplying domestic gas for the Western Australian market. [Image: Chevron]

Top crude exporter Saudi Arabia’s one million barrel per day (bpd) oil output cut is unlikely to underpin a “sustainable price increase” into the high $80s-low $90s with weak fundamentals pointing to lower prices by year-end, Citi analysts said in a no…

Indonesian state energy firm Pertamina is finalising an acquisition of Shell’s shares in the country’s Masela gas project, its chief executive officer said on Tuesday.

Despite a charm offensive across North Africa, Italy’s slow deployment of new LNG import capacity, continued drought and its slow embrace of renewable energy technologies look likely to expose the vulnerabilities of its energy system this winter. [Gas …

China and Australia have set out a pathway to resolve all remaining trade restrictions during a recent meeting in Beijing, Australian Trade Minister Don Farrell said on Tuesday.

Italy could shut down its coal-fired power stations in 2024, a year earlier than planned, if gas prices remain at current low levels, Environment Minister Gilberto Pichetto Fratin said on Monday.

PTTEP was awarded these two offshore blocks in the 24th Thailand Petroleum Bidding Round. [Image: PTTEP]

The pact aims to strengthen capacity building in the fields of energy transition, LNG, zero-carbon energy solutions, and decarbonisation. [Image: African Energy Chamber]

Gas delivery is scheduled to begin in 2024.