Gas Hub Prices & Market Commentary – February 8

natural gas prices at the hubs

Daily review of natural gas prices – Henry Hub, JKM, TTF – and key market events

Gas Prices at the hubs:

Henry Hub
Day change: $0.019, up 0.6% | Settle: $2.882 | March 2021

TTF
Day change: $0.647, up 9.9% | Settle: $7.132 | March 2021

JKM
Day change: $0.045, up 0.5% | Settle: $8.430 | March 2021

Bake Hughes Index Rig Count: gas rigs +4 last week to 92 rigs total with 2 rig additions in the Haynesville and +2 in Appalachia.

Qatar has awarded the EPC contract for the planned 4 train, 33 mtpa expansion project to a JV of Chiyoda and Technip for $28.75 billion (~$880/tonne).

Qatari energy minister Saad al-Kaabi indicated “great interest” from international oil companies to participate and is sending documents soliciting interest next week.

LNG Canada is “a bit behind” its construction schedule due to Covid-related disruptions, Shell CEO Ben van Beurden told analysts during their earnings call.

He added that Shell aims to bring the Prelude FLNG plant to full production after it was shut down for a year due to electrical difficulties.

Amazon has ordered more than 700 compressed natural gas heavy duty trucks as it seeks ways to reduce CO2 emissions in its operations.

The UK announced preferred bidders for six offshore wind projects totaling 8 GW of capacity, including RWE, Total + Macquarie, BP + EnBW, and Cobra + Flotation Energy.

Source: Tellurian

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