American natural gas prices rose by around 3% in the early morning, with the front-month jumping up 11 cents to $3.91/MMBtu. Forecasts in Week 2 skewed colder from yesterday’s model runs, adding around 5 Bcf to expected demand over the next 14 days, driving domestic prices higher. Abroad, European prices have reached record levels, with […]
The average price of spot LNG cargoes for delivery to Japan contracted in November 2021 and scheduled to be delivered from the month onward (contract-based price) were USD 35.0/MBtu. The average price of spot LNG cargoes that were contracted and delivered to Japan with the month of November 2021 (arrival-based price) were not disclosed. The […]
If you look at how the global LNG market has been developing throughout most of 2021, you will find it has similarities with the way European football leagues unfold. For much of the season, there are typically many clubs challenging for the EPL, Serie A, Bundesliga, La Liga or Ligue 1 titles, like there were […]
(Dec. 7) Yesterday’s dramatic 50 cent price pullback originated from warmer weather forecasts, which accentuated the risk for lower natural gas demand in the near future. Sellers in the market transformed what was initially a strong weather forecast correction into a monstrous 11% correction into the futures markets. Today, the front-month is no longer pushing […]
As cold impacted the Eastern Seaboard and Midwest, it pulled 2 Bcf/d in gas supply out of the South Central. Concurrently, LNG feed gas deliveries fell by -0.8 Bcf/d, but it’s tough to tell if the two daily changes are directly correlated. Source: Criterion Research
the meltdown goes on: Henry Hub prices fell by close to 40% since their October highs, trading today below $4/mmbtu, for the first time since late August. several factors are contributing to the this strong price readjustment: (1) US production has been increasing recently, up by 6% yoy through October-November, mainly driven by higher output […]
The Jordan Cove LNG project has finally been scrapped, as the project’s developers – Pembina Pipeline Co – announced to FERC that it had canceled its plans for both the terminal as well as a connecting pipeline called the Pacific Connector. The LNG project was first announced in 2007, and initial expectations were that the […]
Natural gas price benchmarks moderated down from their October highs, although remaining at historic highs both in Europe and Asia amidst tight market fundamentals. In Europe, TTF averaged at $27/mmbtu, down by over 10% compared to October when it hit over $30%. this is despite tighter market fundamentals: European demand was up by 6% yoy […]
Another interesting story that has supplemented the change in weather forecasts is the rise of production. As of now, production is reported to be above 94 Bcf/d – a move to the upside that has been somewhat expected (as a result of elevated natural gas prices), yet a move that has taken nearly a year […]