Market Commentary for December 23, 2020

Henry Hub
Day change: $0.173, down 6.2% | Settle: $2.608 | January 2021

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Day change: $0.037, down 0.6% | Settle: $6.262 | January 2021

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Day change: $0.230, down 2.1% | Settle: $10.525 | February 2021

BHI rig count: gas rigs +2 rigs, as +3 Haynesville rigs offset -1 rig in the Marcellus

U.S. feedgas nominations hit 11.45 bcf/d as Corpus Christi T3 continues startup

Perhaps the naughty little boys and girls can use the lumps of coal in their stockings to power their Cali homes this Xmas as the state’s utilities warn of potential blackouts on Christmas Eve due to increased risk of wildfires…
…meanwhile, those lumps of coal are getting more valuable: coal prices have rallied 45% since November on strong demand in Asia and supply outages in Colombia…
…if that sounds familiar, it’s because we’ve been seeing similar trends in LNG, and the two are related: higher coal prices increases the floor for gas prices…
…longer term, policy changes in Asia’s developing nations led to cancellation of coal-fired power projects in favor or environmentally friendly gas + renewables

New Fortress Energy has signed LNG supply deals with customers in Puerto Rico, Mexico, and Nicaragua

SHI won a $734 million contract for 4 LNG carriers that will serve Mozambique LNG
Woodside and its partners in NWS LNG inked gas processing agreements that will extend the life of the legacy plant using it as a tolling facility for the partners’ gas

Source: Tellurian

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