Natural Gas News – January 12, 2021
Natural Gas News – January 12, 2021
Permian Basin natural gas pipeline goes into service, connects to markets on Gulf Coast
On Friday, the Export-Import Bank of the United States (EXIM) announced the signing of two final agreements for a historic supply chain transaction– including the first-ever use of a funder guarantee structure– that will make $40 million available to Freeport LNG, a Houston, TX based exporter of U.S liquified natural gas (LNG). EXIM says transaction will support 200 American jobs, mostly in Texas, but also through supplier networks in Arkansas, Louisiana, Mississippi, Oklahoma. The groundwork for the structure was laid in September 2020, when the EXIM Board of Directors unanimously approved the renewal of EXIM’s partnership with the Private Export Funding Corporation (PEFCO) for a term of 25 years. For more on this story visit investable
universe.com or https://bit.ly/2XwfEHy
Column: Buyer’s mistakes likely to blame for LNG price surge, not only winter weather
The surge to record highs for the price of spot liquefied natural gas (LNG) is being largely attributed to severe cold weather over much of northern Asia, but miscalculations by buyers of the
fuel are probably a larger factor. The weekly spot price assessment settled at $21.45 per million British thermal units (mmBtu) on Jan. 8, eclipsing the prior record of $20.50 from February 2014. Prices have rallied an astonishing 1,060% since they hit an all-time low of $1.85 in May. There are also media reports of at least one transaction in the past week with a price of around $33 to $35 per mmBtu, which shows just how desperate some buyers are to secure supplies of the super-chilled fuel. For more on this story visit nasdaq.com or https://reut.rs/35ujchP
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