Warmer Weather, Increased Demand Jump Start Global Natural Gas Prices — LNG Recap
Summer heat in the northern hemisphere and growing LNG demand could be kickstarting a mid-year price hike in global natural gas benchmarks.
Senior Editor, LNG
Houston, TX
Summer heat in the northern hemisphere and growing LNG demand could be kickstarting a mid-year price hike in global natural gas benchmarks.
NO. 1: Golden Pass LNG Terminal LLC is looking to ramp up construction at the 18 million metric tons/year (mmty) capacity project after a bankruptcy court approved a deal between the project partners and Zachry Holdings Inc.
Feed gas nominations to the Freeport LNG Development LP facility were revised down Wednesday and Gulf South Pipeline Co. LLC issued a failure to take notice, indicating the facility may have experienced another operational issue, according to Wood Mackenzie pipeline data.
Golden Pass LNG Terminal LLC and its primary contractors, including Zachry Industrial Inc., have agreed to a settlement that could jumpstart construction again at the Texas LNG facility.
Global natural gas benchmarks relaxed once again as cargoes from Freeport LNG Development LP returned to the market and the pace of worldwide imports of the super-chilled fuel heated up along with the temperatures.
Tellurian Inc. has agreed to sell the company and its developing 27.6 million metric ton/year (mmty) Driftwood LNG project to an Australian oil and natural gas giant, Woodside Energy Group Ltd.
New Fortress Energy Inc. (NFE) has reportedly achieved first LNG at its export terminal offshore of Altamira, indicating it could be close to loading Mexico’s first export cargo.
Worldwide gains in natural gas demand are expected to be marginal for the rest of the year, pushing down LNG spot prices and global gas benchmarks through the later half of 2024, according to the International Energy Agency (IEA).
FERC has been ordered by a federal appeals court to review its analysis of the environmental impact of Commonwealth LNG, creating another potential delay for the Louisiana export project.
Energy Transfer LP is testing the regulatory waters after a major court decision on the Biden administration’s LNG pause, requesting that the U.S. Department of Energy (DOE) “expeditiously act” on its export license application for Lake Charles LNG.