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LNG export

US natgas futures rise to one-week high on cooler forecasts
Markets

US natgas futures rise to one-week high on cooler forecasts

  • Traders also noted that mild weather this week will likely cause utilities to boost injections into storage by so much that the total amount of gas in inventory will rise above the five-year (2016-2020) average for the first time since the February freeze.
  • Front-month gas futures rose 1.9 cents, or 0.8%, to $2.541 per million British thermal units.
Published 09 Apr, 2021 06:56pm
US LNG exports set to fall to 6-week low on Corpus Christi maintenance
Markets

US LNG exports set to fall to 6-week low on Corpus Christi maintenance

  • LNG feedgas was on track to fall to 9.1 billion cubic feet per day (bcfd) on Thursday, according to Refinitiv data, its lowest since Feb. 26 when US exports were recovering after several Gulf Coast LNG plants shut due to a shortage of gas and power during the Texas freeze in mid February.
  • Buyers around the world continue to purchase record amounts of US gas because prices in Europe and Asia remain high enough to cover the cost of buying and transporting the fuel across the ocean.
Published 08 Apr, 2021 08:54pm
Sempra Energy to sell 20pc stake in unit to KKR for $3.37bn
Business & Finance

Sempra Energy to sell 20pc stake in unit to KKR for $3.37bn

  • The sale was flagged by Sempra in December and comes as the company sharpens its focus on renewables and energy storage to capitalize on the growing global demand for cleaner fuels.
  • Sempra last year late last year agreed to buy the remaining stake in its Mexican unit Infraestructura Energética Nova SAB de CV (IEnova).
Published 05 Apr, 2021 06:24pm
Gazprom partner to start building Baltic Sea chemical plant
Business & Finance

Gazprom partner to start building Baltic Sea chemical plant

  • The wider project with Gazprom's participation will help Russia, already a leading energy producer, to reach its goal of boosting its share of the liquefied natural gas (LNG) market.
  • The cluster is designed to process annually 45 billion cubic metres of natural gas, produce 13 million tonnes of LNG, 3.6 million tonnes of ethane and up to 1.8 million tonnes of liquefied petroleum gas (LPG).
Published 02 Apr, 2021 08:10pm
Suez ship congestion could delay LNG deliveries to Europe
Markets

Suez ship congestion could delay LNG deliveries to Europe

  • The giant ship ran aground on Tuesday. The Suez Canal stepped up efforts on Friday to free the ship and end a blockage on the main route for European imports of LNG from the Middle East and for some cargoes heading to Asia from the Mediterranean.
  • There are now six LNG vessels waiting to enter the canal, with four of them at the southern Red Sea end and two in the Mediterranean, according to data intelligence firm Kpler. A seventh ship is already in the canal, the data showed.
Published 26 Mar, 2021 09:46pm
US natgas futures flat as mild weather offsets record LNG exports
Markets

US natgas futures flat as mild weather offsets record LNG exports

  • On its second to last day as the front-month, gas futures for April delivery remained unchanged at $2.568 per million British thermal units (mmBtu) .
  • Traders noted the 200-day moving average has become a strong price floor or technical level of support. The front-month has not settled below the 200-day since September 2020.
Published 26 Mar, 2021 08:16pm
Russian LNG would be competitive at $3.7-$7 per 1mn BTU
Markets

Russian LNG would be competitive at $3.7-$7 per 1mn BTU

  • Russia would compete with Qatar, Australia and the United States for customers in Asia, its target market, up to 2030, and their production costs are seen at $2.8-11 and $7-10 per 1 million BTU, respectively.
  • Russia plans to increase its LNG production to nearly 140 million tonnes LNG per year by 2035 from around 31 million tonnes last year and aims to have about 20% of the global market share by then.
Published 22 Mar, 2021 08:35pm
US LNG exports on track to hit record high in March
Markets

US LNG exports on track to hit record high in March

  • The rebound in US LNG is...supported by falling freight rates in the Atlantic Basin, which dizzyingly fell from $322,000 per day two months (ago) to just $21,000 per day.
  • On a daily basis, US LNG feedgas was on track to reach 11.4 bcfd on Friday, which would top the 11.3-bcfd record in mid-December, according to preliminary data from Refinitiv.
Published 19 Mar, 2021 09:44pm