Natural Gas News – April 23, 2018

Natural Gas News – April 23, 2018

Natural Gas Prices in Mexico Fall 14% in March to New Low of $3.88/MMBtu

Platts reported: Natural gas prices across Mexico decreased by 14.4% in March from February levels to $3.88/ MMBtu (Peso 68.85/GJ), the lowest level for the index since the country’s Energy Regulatory Commission (CRE) began tracking prices in July 2017. The country’s gas prices peaked at $4.55/MMbtu (Peso 80.45 MMbtu) in February. The index is composed of monthly transaction sales reports that marketers submit to CRE, and the index price includes marketing and transportation costs charged by marketers. The reporting process does not differentiate among fixed-price or indexed deals, or between spot or forward transactions. Much of Mexico’s gas sales are still largely indexed to a one-month lag on a basket of US gas hubs. US gas prices experienced sharp increases in January due to cold weather across the country. This increase in gas prices in the US in January was experienced in Mexico in February. S&P Global Platts Analytics can see that Mexican gas prices fell considerably in March, likely following the January-to-February decline in prices in the US. For more on this story visit platts.com or click https://bit.ly/2K7bZYR

Panama Canal Set to Increase LNG Capacity by Five Times by 2020

Energy Digital reported: Last year, the canal carried 6mn tonnes of the fuel, with the number expected to reach 30mn in two years. The prediction, set by the Panama Canal Authority which informed Reuters, is in accordance with the rise of production of LNG in the country. LNG demand has grown along with fuel supply – notable from shale fields in the US and offshore reserves in Australia. Countries like China have also been using the fuel as an alternative to coal, due to environmental and polluting reasons. In the coming years, the US’ LNG capacity is expected to reach 70mn tonnes following current projects under construction becoming operational. For more on this story visit energydigital.com or click https://bit.ly/2qXqvd8

 

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.

Sign up for FUELSNews for daily market information and insights
Sign Me Up
Make a Call

We are happy to discuss your business challenges over the phone and answer any questions.

800.695.6626

Send Email

Ask your toughest questions. We'll get back to you with the best answer humanly possible.

Send Email

Find a Location

Need to contact a specfic office? View contact information for offices across the country.

View Locations

Get a Quote

Let us know what type of fuel or service you need and a team member will get a quote to you quickly.

Get a Quote