Natural Gas News – April 13, 2018

Natural Gas News – April 13, 2018

ExxonMobil Resumes Liquefied Natural Gas Production in Papua New Guinea

Business Wire reported: ExxonMobil said today that production of liquefied natural gas (LNG) has safely resumed at the PNG LNG project in Papua New Guinea following a temporary shutdown of operations after a severe earthquake occurred in the region on Feb. 26. LNG exports are expected to resume soon. One train is currently operating at the LNG plant near Port Moresby. The plant’s second train is expected to restart as production is increased over time. During the period that production was shut-in, ExxonMobil was able to complete unrelated maintenance scheduled for later in the year to allow for more efficient operations in the months ahead. “Resuming LNG production ahead of our projected eight-week timeframe is a significant achievement for ExxonMobil, our joint-venture partners and our customers,” said Neil W. Duffin, president of ExxonMobil Production Company. “We will continue to support those communities impacted by the earthquake as we work toward fully restoring our operations. We hope our contributions and assistance will provide comfort to those in need.” For more on this story visit businesswire.com or click https://bit.ly/2GVF63p

Commodities – Natural Gas Futures Turn Higher After Storage

Investing.com reported: The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. fell by 19 billion cubic feet in the week ended April 6, compared to forecasts for a decline of 11 billion. Thursday’s data compared with a draw of 29 billion cubic feet (bcf) in the preceding week and represented a decline of 725 billion from a year earlier and was also 375 bcf below the five-year average. Total U.S. natural gas storage stood at 1.335 trillion cubic feet, 35.2% lower than levels at this time a year ago and also 21.9% below the fiveyear average for this time of year. For more on this story visit investing.com or click https://bit.ly/2JIknxV

Market Condition Report - Disclaimer
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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