Natural Gas News – April 6, 2023

Natural Gas News – April 6, 2023

U.S. LNG Exports Back On Rising Track, Reached Record In March

U.S. producers of liquefied natural gas (LNG) last month regained momentum as the country’s second-largest exporter Freeport LNG ramped up output, sending total shipments to an all-time record of 7.73 million tonnes, Refinitiv Eikon data showed on Monday. Freeport LNG’s facility in Texas, which had suspended operations after a fire last year, exited an eight-month outage in February and on Monday was on track to pull in about 2.2 billion cubic feet per day (bcfd) of gas, above its nameplate capacity, pushing up the country’s overall processing rates. A total of 108 cargoes departed U.S. ports last month carrying 7.73 million tonnes of LNG, above the previous record of 7.67 million tonnes a year ago, according to Refinitiv Eikon trade flows data. Europe was again the main destination for U.S. LNG exports, receiving… For more info go to https://bit.ly/3GlLEoC

US NatGas Steady As Rising LNG Feedgas Offsets Milder Weather

U.S. natural gas futures held mostly steady on Tuesday as the market balanced rising amounts of gas flowing to liquefied natural gas (LNG) export plants versus forecasts for milder weather that will reduce heating demand over the next two weeks. The amount of gas flowing to LNG export plants was on track to hit for a second month in a row in April after Freeport LNG’s facility in Texas exited an eight-month outage in February and returned to full power over the past week. Freeport LNG shut in June 2022 after a fire. Front-month gas futures for May delivery on the New York Mercantile Exchange (NYMEX) rose 0.9 cents, or 0.4%, to settle at $2.106 per million British thermal units. The market has been extremely volatile in recent weeks with the front-month gaining or losing more than 5% in 12 … For more info go to https://yhoo.it/3KDmrZg