Updated Sep 25, 2024
9/25/24
The Southern Environmental Law Center and the Natural Resources Defense Council have filed a court challenge against FERC’s authorization of the proposed CP2 LNG export project in Cameron Parish, LA.
European and Asian natural gas prices fell again on Tuesday amid weak demand, but the losses could be shortlived as concerns over potential supply disruptions persist.
With a plethora of global natural gas and oil opportunities from which to pick and choose, BP plc wants to build volumes, but the priority still continues to be value, CEO Murray Auchincloss said Tuesday.
Worldwide gains in natural gas demand are expected to be marginal for the rest of the year, pushing down LNG spot prices and global gas benchmarks through the later half of 2024, according to the International Energy Agency (IEA).
Hot weather and maintenance work cutting into supplies pushed global natural gas prices higher on Monday.
NO. 1: Golden Pass LNG’s feed gas pipeline is expected to be in service during the first half of 2025, but the timeline could be impacted by the Zachry Group’s bankruptcy filing last month, according to a field inspection report by FERC.
More Asian buyers have turned to TotalEnergies SE and its massive LNG portfolio bolstered by flexible U.S. supply to meet medium- and long-term natural gas demand.
NO. 1: European natural gas prices continued to climb on Thursday, hitting a five-month high after Austria’s OMV AG warned earlier in the week of potential disruptions to Russian gas supplies.
Natural gas buying at prices linked to dominant benchmarks like Henry Hub, the Japan-Korea Marker and the Title Transfer Facility last year again outpaced purchases linked to oil prices in a trend being driven largely by LNG trade growth, according to the International Gas Union (IGU).
Equinor ASA expects competition for LNG with Asia and weather to be the largest drivers of European natural gas prices as markets continue to shift, creating a floor for global benchmarks.