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Download Shifting Tides: Perspective on a Changing LNG Market

Download Shifting Tides: Perspective on a Changing LNG Market
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Oil, Gas, And Fracking News Reads: 21February 2021

The natural gas storage report from the EIA for the week ending February 12th indicated that the amount of natural gas held in underground storage in the US fell by 237 billion cubic feet to 2,281 billion cubic feet by the end of the week, which left our gas supplies 105 billion cubic feet, or 4.4% below the 2,386 billion cubic feet that were in storage on February 12th of last year, but 57 billion cubic feet, or 2.6% above the five-year average of 2,224 billion cubic feet of natural gas that have been in storage as of the 12th of February in recent years..the 237 billion cubic feet that were drawn out of US natural gas storage this week was less than the average forecast of a 251 billion cubic foot withdrawal from an S&P Global Platts survey of analysts, but much more than the 141 billion cubic foot withdrawal from natural gas storage seen during the corresponding week of a year earlier, as well as the average withdrawal of 142 billion cubic feet of natural gas that have typically b

U S LNG Exports Bouncing Back as Weather Finally Shifts Along Gulf Coast

U.S. LNG Exports Bouncing Back as Weather Finally Shifts Along Gulf Coast U.S. liquefied natural gas (LNG) exports were slowly recovering Friday, but the impacts of brutal cold along the Gulf Coast that nearly halted shipments altogether were lingering.  Eighteen empty LNG vessels were floating in the Gulf of Mexico Friday, up from 12 on Thursday, Kpler economist Reid I’Anson told NGI. Another two tankers were diverted away from Cheniere Energy Inc.’s Corpus Christi LNG (CCL) terminal in South Texas to its Sabine Pass LNG plant in Louisiana. Both CCL and Cameron LNG in Louisiana remained offline Friday. Freeport LNG on Quintana Island, TX, was still operating at partial capacity. 

LNG Loading Disrupted as Weather Continues to Upend U S Export Operations

LNG Loading Disrupted as Weather Continues to Upend U.S. Export Operations U.S. liquefied natural gas (LNG) operations were again disrupted on Wednesday as wintry weather continued to grip the Gulf Coast, forcing traders to shuffle cargoes as American exports continued to decline. Power has been restored at Cameron LNG in Hackberry, LA, after a problem with the transmission grid knocked it offline Monday. But the terminal was still working to ensure it could safely restart operations, a spokesperson said. Meanwhile, two of three liquefaction trains remained offline at Freeport LNG on Quintana Island in Texas in order to cut natural gas and electricity consumption in compliance with the state’s emergency declaration. Cheniere Energy Inc. also was said to be diverting cargoes away from Corpus Christi in South Texas to its Sabine Pass terminal in Louisiana for similar reasons. 

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