Updated Aug 30, 2024
8/30/24
Senior Editor, Mexico & Latin America
Santiago, CL
Argentina’s 51% state-owned oil and gas company YPF SA, in partnership with Malaysian national oil company Petronas, has settled on the northern edge of Patagonia for their planned LNG export project.
North American natural gas futures were stuck again this week as persistent supply surpluses did little to excite bulls.
Argentina’s 51% state-owned oil and gas company YPF SA, in partnership with Malaysian national oil company Petronas, have settled on the northern edge of Patagonia for their planned LNG export project.
Calgary’s Whitecap Resources Inc. saw natural gas production jump from Western Canada’s Montney and Duvernay shale formations as well as from conventional assets in Alberta and Saskatchewan in the second quarter.
Liberty Energy Inc. CEO Chris Wright said he thinks artificial intelligence (AI) and the return of manufacturing in the United States would bode well for natural gas demand. He also said exports to Mexico would be “increasingly important” and could support the price of U.S. natural gas indexes going forward.
North American natural gas prices continued to search for and not find momentum this week. Despite sizzling temperatures and soaring power demand, U.S. natural gas production of around 102 Bcf/d was more than enough to keep prices subdued.
The clock is ticking on Mexico LNG projects as a glut of liquefied natural gas supply is set to hit the market and giant projects advance elsewhere.
Liberty Energy Inc. CEO Chris Wright said he thinks artificial intelligence (AI) and the return of manufacturing in the United States would bode well for natural gas demand. He also said exports to Mexico would be “increasingly important” and could support the price of U.S. natural gas indexes going forward.
LNG tanker Energos Princess has pulled up to New Fortress Energy Inc.’s floating storage unit at Altamira, Mexico, according to ship-tracking data from Kpler.
Mexico imported a record amount of natural gas from the United States last year as it continued to ramp up the fuel’s use in the power and industrial sectors.