Articles tagged Sabine Pass LNG

With bulls aiming to send prices higher for a third straight session, natural gas futures were up modestly through midday trading Tuesday as weaker production volumes and stronger physical prices hinted at tightening market conditions. 

• Natural gas futures up sharply through midday trading, with March Nymex contract 19.7 cents higher at $1.773/MMBtu as of 2:21 p.m. ET 
• Rally sparked by Chesapeake Energy Corp. announcing 2024 production cuts; company guiding for 2.65-2.75 Bcf/d in 2024, reflecting 22% year/year decline
• Per Gelber & Associates analysts, “The move is likely exacerbated by short-covering, as the sustained downtrend had previously made shorting an attractive bet for speculators and managed money”
• Southwestern Energy Co. to release 4Q2024 results on Thursday
• Seasonally light storage withdrawal on tap for this week’s U.S. Energy Information Administration storage report; Reuters survey shows minus-64 Bcf median, versus 168 Bcf five-year average pull
• Production down around 1 Bcf/d to 103.2 Bcf/d in latest Wood Mackenzie estimates; LNG demand at 12.6 Bcf/d, versus 13.0 Bcf/d Tuesday
• Wood Mackenzie observing declines in deliveries to Sabine Pass LNG terminal in recent days, including 401,981 MMBtu/d reduction associated with Transco maintenance
• Cash prices climb but generally discounted versus Nymex front month; Henry Hub spot averaging $1.600, up 9.5 cents, per NGI’s MidDay Price Alert
• National Weather Service calling for “spring-like warmth east of the Rockies into late week”
• Northeast Regional Avg. off 22.0 cents day/day, MidDay Price Alert data show

Arc Resources Ltd., one of Canada’s largest natural gas producers, said Wednesday it would send more volumes to Cheniere Energy Inc. for liquefaction and delivery to Europe.

Natural gas futures forged ahead on Monday, building on the modest momentum gathered late last week after supportive government inventory data and price jumps in Europe. Following a 2.7-cent gain on Friday, the October Nymex gas futures contract settled at $2.639/MMBtu, up two-tenths of a cent to start the new week. November rose 2.7 cents to $2.906.

TotalEnergies SE is on the hunt for more opportunities for affordable LNG like its recent grabs in the United States as Europe’s energy volatility and rising costs are likely to persist.

Cheniere Energy Inc. is continuing its marketing push for its Sabine Pass LNG expansion project with another long-term sales and purchase agreement (SPA) that builds on its partnership with one of China’s largest private natural gas buyers.

Cheniere Energy Inc. said Wednesday it has secured another customer to support a major expansion at its Sabine Pass LNG export terminal in Louisiana. 

Cheniere Energy Inc. has signed a long-term sales and purchasing agreement with Korea Southern Power Co. Ltd (KOSPO) that could eventually help underpin its proposed expansion of Sabine Pass LNG.

A roundup of news and commentary from NGI’s LNG Insight:

Federal regulators have given Cheniere Energy Inc. approval to return a liquefied natural gas storage tank to service that’s been closed for over four years at its Sabine Pass export terminal in Louisiana.