Articles tagged Supply

Natural gas generation is likely to expand as a proliferation of data centers are built across North America, offering a fortuitous advantage for midstream giant Kinder Morgan Inc., according to Chief Commercial Officer Will Brown.

Chevron Corp. said Tuesday it has shut down LNG production at its Wheatstone export terminal in Western Australia for repairs at a time when other outages are keeping the global natural gas market tight.

Natural gas exploration and production (E&P) companies in the Haynesville Shale continue to drive overall cuts to Lower 48 supply. Output there is down nearly 20% from a year earlier and continues to slide following well-telegraphed efforts to slow activity and balance an oversupplied market.

April Nymex natural gas futures finished their penultimate session in the lead position in the red, with the weather expected to provide a modest bump in demand too late to substantially impact the robust supply.

Jera Co. Inc., one of the world’s largest LNG buyers, has secured a 15.1% stake in Woodside Energy Group Ltd.’s Scarborough project as it continues to look for stable long-term supply for Japanese power production.

The Biden administration’s temporary pause on new U.S LNG export permits has for now derailed an anticipated wave of new volumes that was expected to hit the market later this decade, prompting major global gas buyers to explore other options.

A growing number of analysts have penciled in lower natural gas prices and more gas and oil production cuts for 2024 to remedy supply-demand imbalance, which worsened late in 2023 amid a mild start to winter and record production levels.

The U.S. power grid faces the risk of blackouts over the next 10 years because of rising peak power demand, generator retirements and questions about the reliability of renewables and natural gas delivery systems, the North American Electric Reliability Corporation (NERC) said Wednesday (Dec. 13).

Algeria is keeping its promise to supply Europe with additional natural gas as the continent continues replacing Russian imports. 

European natural gas prices inched higher Monday as the threat of a broader conflict in the Middle East offset a warmer forecast and ample supplies on the continent.