Gas Futures News

U.S. exports of liquefied natural gas (LNG) fell in August as some processing plants reduced output and a heat wave increased gas demand for power, leaving less gas available for LNG production, according to vessel monitoring data and analysts.Above-normal temperatures and drought hit the U.S. Southwest last month, triggering record electricity demand and forcing providers to ask users to voluntarily reduce consumption. Maintenance outages also curbed processing at two Cheniere Energy facilities: Sabine Pass in Louisiana and Corpus Christi in Texas.Gas supply to the seven largest U.S.

U.S. producers of liquefied natural gas (LNG) exported at top capacity in April for a second consecutive month, with over two-thirds of shipments bound for Europe and rising volumes to Latin America, Refinitiv Eikon data showed on Monday.Following the full restart of a key Texas export facility in February, U.S. LNG producers are taking advantage of firm prices overseas and increasing demand in some markets.A total of 107 cargoes departed from U.S. ports last month carrying 7.78 million tonnes of LNG…

The first liquefied natural gas (LNG) vessel arrived on Friday at Freeport LNG's long-idled export plant in Texas since the facility shut in a fire in June last year, according to ship tracking data from Refinitiv.The vessel Kmarin Diamond is operated by a unit of oil major BP, one of Freeport's big customers, according to several vessel tracking services.News of the vessel's arrival helped boost U.S. natural gas futures by over 5% in post-settlement trade on Friday as the second biggest U.S. LNG export plant will consume a lot of gas once it starts production again.The contract had closed at a 25-month low earlier in the week due mostly to mild weather and low heating demand.Freeport has said it would soon start sending gas to one of the plant's three liquefaction trains…

U.S. federal energy regulators on Thursday approved Freeport LNG's request to return ship loading to service at its long-idled Texas liquefied natural gas (LNG) export plant.Freeport, the second biggest U.S. LNG export plant, shut after a fire in June 2022. The energy market expects gas prices to rise once the plant starts producing LNG again.When operating at full power, Freeport can turn about 2.1 billion cubic feet (bcf) of gas into LNG each day. That is about 2% of total U.S.

Freeport LNG, the second-biggest U.S. liquefied natural gas (LNG) exporter, got approval from federal regulators on Thursday to take early steps to restart its fire-idled LNG export plant in Texas.Freeport, however, has not yet sought permission to restart the liquefaction trains that turn natural gas into LNG for export. That resumption of LNG production will have to come in a later request with federal regulators.Energy analysts have said they still expect most of the plant's…

Freeport LNG, the second-largest U.S. liquefied natural gas exporter, on Monday said it had completed repairs to its Texas plant and asked U.S. regulators for permission to take early steps to restart the fire-idled facility.The closely-held liquified natural gas (LNG) company's export facility was knocked offline by a fiery blast on June 8 and barred from resuming production until federal regulators completed an extensive safety review and approved resulting changes.Freeport LNG sought permission to begin introducing LNG into the plant's piping system…

Freeport LNG's long-shut liquefied natural gas (LNG) export plant in Texas started receiving pipeline natural gas over the long U.S. Martin Luther King Jr holiday weekend, according to Refinitiv data.U.S. LNG exports have been steadily increasing for years and Freeport, the second biggest U.S. LNG export plant, is one of a number of key facilities for shipments around the world, where demand has soared following Russia's decision to largely cut off piped gas supply to Europe after Moscow's invasion of Ukraine.Gas started flowing to Freeport on Jan.

Freeport LNG’s long-shut liquefied natural gas (LNG) export plant in Texas was on track to receive natural gas on Tuesday, according to data from Refinitiv, a possible sign the plant might meet the company’s projected end-of-the-year return date.The Freeport shutdown added to the squeeze on global gas caused by Russia’s invasion of Ukraine. It helped boost prices in Europe and Asia to record highs over the summer, while capping gains in U.S. gas futures by leaving more fuel in…

At least one liquefied natural gas (LNG) vessel gave up on Freeport LNG's export plant in Texas after the company last week delayed its planned restart to the end of December, ship tracking data from Refinitiv showed.Some analysts have said they do not expect Freeport to return until January, February or even later because it will likely take federal pipeline safety regulators longer than Freeport thinks to review and approve its restart plan.The Freeport shutdown added to the squeeze on global gas caused by Russia's invasion of Ukraine. It helped boost prices in Europe and Asia to record highs over the summer, while capping gains in U.S.

The owner of the second-largest U.S. liquefied natural gas (LNG) export plant has not yet provided regulators with a final repair plan, according to a person familiar with the matter, likely pushing any restart into the first quarter of next year.The outage since a fiery explosion in June has underscored the global demand for new gas supplies and required major LNG traders and customers of the roughly 16 million tonne per year processing facility to buy replacement cargoes at huge markups.Freeport LNG had pledged in August to restart gas-processing by early to mid-November…

Freeport LNG, one of the largest operators of liquefied natural gas export plants in the United States,on Tuesday said last week's fire damage to its Texas plant would keep it fully offline until September with only partial operation through to the year end.Natural gas prices slumped in the United States and soared in Europe on the lengthier shutdown as the Quintana, Texas, facility produces roughly 20% of U.S. LNG exports and has been a major supplier to Europe, which has sought…

U.S. natural gas futures edged up about 2% on Tuesday on record power demand in Texas, forecasts for more gas demand over the next two weeks than previously expected, a reduction in gas output, low wind power and much higher global gas prices.Power demand in Texas failed to hit a new all-time high on Monday due to less hot weather, but will likely break peak use records on Tuesday and later this week as homes and businesses keep air conditioners cranked up to escape a lingering heatwave.

Investment firm Stonepeak said on Monday it would buy Teekay LNG Partners in a deal worth $6.2 billion, as it looks to take advantage of rising global demand for LNG amid a push towards cleaner sources of energy.Prices of the benchmark U.S. natural gas contract have been on the rise, hitting seven-year highs recently. On Monday, the front-month gas futures contract was up 6.3% at $5.97 per million British thermal units (mmBtu).Stonepeak is offering $17 per unit, which represents a premium of 8.3% to the closing price of Teekay LNG's common units on Oct.

A deep freeze that hit Texas over the weekend wrought more havoc on the U.S. energy sector on Tuesday, curbing output in the largest U.S. oil field, knocking out a fifth of the nation's refining capacity, and shutting a key shipping channel in Houston.Historic cold has knocked out roughly 4 million barrels per day of refining capacity, more than one-fifth of national capacity, according to Reuters calculations. About 500,000 to 1.2 million bpd of crude production has also been affected…

U.S. liquefied natural gas exports are down by more than a third since governments started imposing lockdowns to stop the spread of the coronavirus.Worldwide gas prices have plunged as lockdowns squeezed energy demand even as strong renewables output boosted supply. Gas prices are more expensive now in the United States than in Europe for the first time in a decade.Buyers in Asia and Europe have already canceled over 20 U.S. LNG cargoes for June and July, and more cancellations are anticipated.Gas flows to U.S.

Dutch gas prices hit 10-year lows this week, reflecting high European inventories swelled by liquefied natural gas (LNG) imports, testing levels at which companies that committed to buy U.S. LNG will start making serious losses.Prices for month-ahead Dutch gas have dropped by two-thirds since their peak last September of just under 30 euros per megawatt hour (MWh).On Friday, Dutch gas for July delivery slumped to 8.95 euros per MWh, the lowest since August 2009.The price falls are in part thanks to an influx of U.S. LNG supplies. But customers of Cheniere Energy, which dominates U.S.

Intercontinental Exchange, operator of global exchanges and clearing houses and provider of data and listings services,  reported new milestones in the trading of the TTF natural gas and JKM LNG (Platts) contracts.In September, TTF Futures and Options hit an all-time monthly volume record of more than two million lots (2,023,848), equivalent to 1,484 TWh. TTF Futures set a new daily volume record on September 10 of 193,695 lots, equivalent to 142.1 TWh.TTF is the most liquid European natural gas benchmark, followed by ICE’s UK Natural Gas Futures (NBP).Europe’s interconnected natural gas infrastructure allows it to absorb LNG arriving…

U.S. natural gas futures on Friday sank to within a penny of a 1995 low as drillers continue to pull near record amounts of gas out of the ground despite forecasts for warm weather and light heating demand and with stockpiles at record high levels. Front-month gas futures on the New York Mercantile Exchange were down 2.3 cents, or 1.4 percent, to $1.616 per million British thermal units at 7:27 a.m. EST (227GMT), the lowest level since August 1998. If the contract falls below $1.61, it would drop to the lowest level since September 1995. Futures have been on a downward spiral for months. So far this year, the front-month has collapsed over 30 percent. Friday's decline puts the front-month on track for a sixth down week in a row, the longest losing streak since January 2015.

With the United States about to become a net exporter of natural gas for the first time in 60 years, Intercontinental Exchange Inc said on Wednesday it would begin trading the first-ever U.S. liquefied natural gas futures contract in May. ICE said the contracts would be cash-settled against the Platts LNG Gulf Coast Marker price assessment and use Platts-derived U.S. GCM LNG forward curves for daily settlement purposes. The curves will have an initial term of 48 months. "Domestic and international market participants now have a risk-management solution that lays the foundation for a more effective means of hedging their spot and forward exposure," J.C. Kneale, ICE's vice president, North American power and natural gas markets, said in a statement. U.S.

U.S. oil prices fell Monday on renewed concerns that the OPEC cartel's recent cut in production would not be enough to counter the impact of a global economic slowdown. U.S. light sweet crude for September delivery traded down 1.4 percent, or 23 cents, at $26.96 a barrel. London Brent futures for September delivery traded down 21 cents to $24.98 a barrel. Oil prices have declined steadily since late May amid increasing evidence that the global economic slowdown is eating into demand for petroleum this year. Concern over falling prices and a sustained rise in spare petroleum stocks spurred the OPEC producer cartel to agree last week to a 1 million barrels per day (bpd) output cut. But traders were reluctant to push prices up without indications that the world economy is rebounding.

U.S. energy firms this week cut oil and natural gas rigs for a 14th week in a row to the lowest level since at least 1940, data showed on Thursday, as energy firms continue to slash spending as part of the deepest energy price rout in a generation. Oil rigs alone fell 15 to 372, the lowest level since November 2009, oil services company Baker Hughes Inc  said in its closely followed report. Looking forward however, analysts forecast the rig count will bottom in a couple months before recovering later this year when they expect energy prices to rise. Drillers cut 12 oil and gas rigs in the week to March 24, bringing the total rig count down to 464, the report said. That compares with 1,048 oil and gas rigs operating in the same week a year ago.

According to reports, oil prices fell by three per cent Monday, slipping below $59 a barrel as traders looked ahead to U.S. supply data due out Wednesday that is expected to show rising inventories of crude. Doubts about OPEC's ability to implement a 1.2 million barrels a day production cut also weighed on prices. Last week, oil prices surged after the U.S. Energy Department data showed a large decline in crude-oil inventories. But some analysts believe the market overreacted to the data by failing to account for the impact of a temporary shutdown of the Louisiana Offshore Oil Port, through which 10 per cent of all U.S. oil imports flow.

A surge in speculative interest in the U.S. liquefied natural gas (LNG) export boom has pushed open interest in natural gas futures to an all-time high, traders said on Thursday. Open interest, which measures the number of contracts outstanding, in the Henry Hub front-month hit 386,826 on the New York Mercantile Exchange on Wednesday, topping the previous high of 366,383 set in May 2016, according to Reuters data going back to 1990. "There has been a narrative around the market that the LNG exports are going to be the difference maker this winter…