Updated Aug 22, 2024
8/22/24
The United States accounted for all of the world’s new liquefied natural gas (LNG) production capacity last year, as exports grew despite challenges created by the Covid-19 pandemic, according to the 12th annual World LNG Report by the International Gas Union (IGU).
Tellurian Inc. on Thursday said it has signed a sales and purchase agreement (SPA) with Vitol Inc. to supply 3 million metric tons/year (mmty) of liquefied natural gas (LNG) from its proposed Driftwood export terminal in Louisiana.
TC Energy Corp. sees Yucatán Peninsula demand and liquefied natural gas (LNG) exports as possible catalysts for expanding its natural gas network in Mexico, said TC’s Stan Chapman, president of U.S. and Mexico natural gas pipelines.
A major revision in the April weather forecast coming back from the Easter weekend took a big chunk out of natural gas forward prices for the period ending April 8. The short work week ended with the May contract down an average 10.0 cents and the balance of summer (May-October) off 7.0 cents, according to NGI’s Forward Look.
Though global oil supply is beginning to climb, it is rising gradually off of depressed levels and is not expected to exceed the anticipated demand recovery this year. The supply/demand balance should support crude prices near their current levels through 2021, though fluctuations are all but certain, Moody’s Investors Service said in a report this week.
U.S. liquefied natural gas (LNG) exporters could see cargo cancellations return this summer if the current supply glut cannot be alleviated by then, analysts said Wednesday.
Texas Gov. Greg Abbott blasted the Electric Reliability Council of Texas (ERCOT) on Thursday, saying the independent system operator “failed the people of Texas” during an extended cold snap this week.
Cheniere Energy Inc. has requested FERC approval to place the third train in service next month at its Corpus Christi liquefied natural gas (LNG) export terminal in South Texas, which would ramp up capacity by 4.5 million metric tons/year (mmty).