The price of gas in Europe has reversed its initial gains and is now lower than the oil prices.
The Dutch and British wholesale prices of gas reversed gains earlier on Tuesday afternoon. They fell in line with the oil price and offset initial concerns about rising demand due to cooler weather conditions and U.S. liquefied gas supplies. LSEG data shows that the benchmark front-month contract for the Dutch TTF Hub was down 1.75 euros to 35.40 euros or $11.43/mmBtu by 1502 GMT. It had reached a high of 37.90 Euros/MWh earlier in the day. The day-ahead contract on the British market fell 4 pence, to 85.00 p/therm.
Prices of EUROPE GAS rise on demand and tight supply
The Dutch and British wholesale prices of gas extended their previous session's gains Tuesday. This was due to the rising demand for gas from cooler weather, the ongoing Norwegian supply restrictions, and fears that a hurricane could impact the U.S. liquefied gas supply. LSEG data shows that the benchmark front-month contract for the Dutch TTF hub rose by 0.60 euro to 37.75 euros per Megawatt Hour, or 12.19/mmBtu by 0802 GMT. On the British market, the day-ahead contracts gained 1,50 pence each to 90.50 cents per therm.
Freeport LNG plant to resume service in Texas on Thursday, LSEG data indicates
LSEG data indicated that the U.S. liquefied gas (LNG), company Freeport LNG, was on schedule to resume service at its Texas export plant on Thursday. The facility had been shut down on Wednesday. Freeport is one the most watched U.S. export LNG plants in the World because of its history of changing global gas prices every time it restarts or shuts down. However, energy traders noted that the gas prices in other parts of the world did not change much on Wednesday…
Annova LNG Sign Deal with Enbridge
Houston liquefied natural gas company Annova LNG has signed a 20-year supply deal with Enbridge, a Canadian pipeline company that owns a 10.5 percent stake in Annova's proposed export terminal.The precedent agreement with Enbridge Inc.’s Valley Crossing Pipeline LLC (VCP) would provide transportation for the still unsanctioned 6.5 million metric tons/year (mmty) facility, which was approved by federal regulators in November.Under the deal…
Europe Dominates LNG Import Story in 2019
Global liquefied natural gas (LNG) production jumped in 2019, triggering oversupply and low prices that are expected to persist in 2020. Initial full-year data from LNG Edge shows exports at 355 million tonnes in 2019, up from 314.9 million tonnes in 2018.This represents the largest ever increase in production.While East Asian, especially Chinese, demand increased in 2017 and 2018 to absorb additional production, there was little change this year.
Canadian E.Coast LNG Export Plans Progress Shell Deal
Pieridae Energy moved closer to building a liquefied natural gas (LNG) export terminal on Canada's East Coast after taking ownership of fields from Royal Dutch Shell which will feed gas into the plant, the company said.The Goldboro LNG terminal would be the first on Canada's East Coast and compete with the growing number of plants on the U.S. Gulf Coast, hoping its shorter distance to Europe and further west will help sell…
Freeport LNG Reaches Milestone
Freeport LNG has reached final commissioning on Train 1 of its liquefaction project on Quintana Island in Freeport, Texas, following months of construction delays.American multinational engineering firm McDermott International along with its partners, Chiyoda International Corporation and Zachry Group, announced that crews have introduced feed gas into Train 1 of the liquefied natural gas export terminal.When fully operational…
Bechtel Bags Rio Grande LNG EPC Deal
US project management services provider Bechtel has won the engineering, procurement, and construction (EPC) contracts totaling $9.565 billion for the LNG export project developer NextDecade-led Rio Grande liquefied natural gas (LNG) project in the US.The fully wrapped lump-sum turnkey (LSTK) EPC contracts include cost, schedule, and performance guarantees, NextDecade said in its statement.The EPC contracts are for the first phase of the Rio Grande LNG project…
FSRU: Bangladesh Terminal Makes First STS Transfer
Bangladesh's second liquefied natural gas (LNG) floating facility is set to receive its first ship-to-ship transfer of gas from an Algerian cargo, a spokeswoman from operator Summit LNG Terminal said on Thursday.'Summit LNG', the floating storage and regasification unit (FSRU), will receive 159,000 cubic meters of LNG from Oman Trading International, with the transfer expected to be completed by Thursday night.The LNG tanker, Creole Spirit, loaded gas from Bethioua, Algeria, she said, adding that a second LNG tanker is expec
Russian Pipeline: Bringing Gas and Building Trust
A discussion over energy at the summit last week between Russian President Vladimir Putin and North Korean leader Kim Jong-un has excited the government in South Korea, where the government is desperately looking to entice the North Koreans to come in out of the cold.Among the topics that came up was access for the North Koreans to Russian electricity supplies and the question of North Korea allowing the Russians to build a pipeline that would ship natural gas from Vladivostok…
LNG Prices Nosedive
A mild winter and growing surplus of supply have knocked the legs out from under Asian LNG, with spot prices plummeting more than 60% since last September, Rystad Energy, energy research and business intelligence company.Similarly, British front month prices (NBP) have dropped from $9.90 per MMBtu in September 2018 to $4.40 per MMBtu during the first week of April.Current low prices at importing markets offer producers in the main exporting countries – Australia…
Feed Gas Introduced at Cameron LNG
Cameron LNG has begun pipeline feed gas flow to the first liquefaction train of the liquefaction-export project as it prepares to begin production of liquefied natural gas (LNG) at the facility in Hackberry, La., according to partners involved in the project. This is the final commissioning step for Train 1 of Cameron LNG Phase 1."We expect to start producing LNG this quarter," said Lisa Glatch, chief operating officer of Sempra LNG and board chair for Cameron LNG.Cameron LNG is jointly owned by affiliates of Sempra LNG LLC…
Cameron LNG Project in Final Stage
McDermott International, provider of technology, engineering and construction solutions to the energy industry, and its joint venture partner, Chiyoda International Corporation, a U.S.-based wholly-owned subsidiary of Chiyoda Corporation, Japan, announced that Train 1 of the Cameron LNG project in Louisiana has reached the final commissioning stage.This includes the introduction of pipeline feed gas into Train 1 of the liquefaction export facility…
Arctic LNG 2, Siemens Sign Deal
Russian gas producer Novatek said that it had signed a deal with German tech giant Siemens to buy compressors for its new Arctic LNG 2 natural gas liquefaction plant.Novatek's second LNG export facility after Yamal LNG, the 19.8 million mt/year Arctic LNG-2 project is moving closer to the reality after this deal.The scope of supply under the contract includes three feed gas compressors and six boil-off gas compressors. The…
Sempra Initiates Cameron LNG Train 1 Commissioning
Sempra Energy announced that Cameron LNG has initiated the commissioning process for the support facilities and first liquefaction train of Phase 1 of its Hackberry, La., liquefaction-export project."All major construction activities have been completed to begin the commissioning and start-up process to produce LNG from the first liquefaction train," said Joseph A. Householder, president and chief operating officer of Sempra Energy."This is a significant milestone for this landmark U.S.
Philippines Short-lists Three Groups for LNG Terminal Project
The Philippines has short-listed three different groups to build and operate its first liquefied natural gas (LNG) import terminal and hopes to nominate one by November, its energy minister said on Tuesday.Short-listed companies were chosen from 18 groups that submitted proposals for the project, Alfonso Cusi told Reuters on the sidelines of the Singapore International Energy Week.They include state-owned Philippines National Oil Company (PNOC)…
New U.S. LNG Projects, Enough to Double Exports, on Verge of Launch
New U.S. liquefied natural gas terminals with enough capacity to double U.S. exports have either begun commissioning their facilities or are waiting for approval from the energy regulator, a review of their documents showed this week.Although long planned, the actual commissioning of plants has been a moving target in the past.Yet the process not only kicks off a new era for the global industry as the United States turns into a significant exporter.
Feedgas Flows into Sabine Pass LNG Export Plant Drop Again
Feedgas supplies into Cheniere Energy's Sabine Pass liquefied natural gas (LNG) export plant in Louisiana fell again after recovering briefly following a month-long maintenance shutdown affecting one of three production units, data showed on Tuesday.Input levels on the three pipelines serving the facility showed feed levels had fallen to 2,180 million cubic feet/day (mcf/day) on Tuesday after a fall and briefly recovering to a high of 2,860 mcf/day on Saturday.Current inflow levels suggest that the expected restart of the pl
Cheniere's U.S. LNG Outage Spurs European Reload Activity to Asia
Cheniere Energy, dealing with an ongoing partial outage at its Sabine Pass liquefied natural gas (LNG) plant in Louisiana, is making use of its idle tankers to pick up LNG in Europe for sale in Asia where prices are surging, traders said.Feedgas volumes into Sabine Pass fell by a third to 2 billion cubic feet/day on May 15 and have remained there ever since, according to flow data from three pipelines serving the facility.The plunge reflects an outage at the plant's third liquefaction train, traders said.
Dominion to Complete Atlantic Coast Natgas Pipe by End 2019
The response from the company came after the U.S. Virginia lifts its tree clearing restrictions on migrating habitats on Aug. 30 for birds and Sept. One billion cubic feet of gas is enough to fuel about 5 million U.S. Atlantic Coast is a partnership between units of Virginia energy company Dominion, North Carolina energy company Duke Energy Corp and Georgia energy company Southern Co .
