Natural Gas Futures Slump Second Day Amid Elusive Demand, LNG Uncertainty; Cash Prices Fall

Natural gas futures extended losses on Wednesday as forecasts pointed to benign conditions and LNG demand proved soft, offsetting continued light production estimates and expectations for a seasonally bullish storage print. At A Glance: Unsupportive weather outlook Production hovers near 97 Bcf/d NGI models 56 Bcf storage build Coming off a 3.9-cent decline the prior…

Qatar Continues Push to Secure LNG Shipping Ahead of North Field Expansion 

QatarEnergy has signed another three agreements to secure even more LNG shipping, this time chartering what the company calls QC-Max vessels that would be built in China.  QatarEnergy signed long-term charter party agreements for four liquefied natural gas vessels from China Merchants Group, three vessels from Shandong Marine Group and two vessels from China LNG…

May 1, 2024

DT Midstream Forecasting Higher U.S. Natural Gas Prices as Rising LNG Demand Looms

While U.S. natural gas producers are working to balance production with the limited commodity price upside to the end of the year, DT Midstream Inc. (DTM) is expecting Gulf Coast LNG demand to drive a bevy of expansion projects through the decade. The Detroit-based gas infrastructure firm has committed $265-295 million for growth projects this…

May 1, 2024

Chesapeake ‘Encouraged’ by Natural Gas Demand Signals as Production Cuts Continue

Chesapeake Energy Corp. said Wednesday it would continue to curtail natural gas output until demand rebounds, forecasting another 400 MMcf/d of cuts in the second quarter.  The company first announced the cuts in February and said they would mostly come by not turning wells in progress to sales. Chesapeake curbed 200 MMcf/d of output during…

May 1, 2024

Feed Gas Flows, Vessel Traffic Indicate Stabilized Production at Freeport LNG

Feed gas flows to Freeport LNG continued to tick up as a fully loaded vessel left the Texas export facility for the first time in a week, indicating Train 3 operations could be stabilizing. Nominations of natural gas to the plant began increasing April 27 after hovering near zero for several days, according to Wood…

May 1, 2024