Natural Gas News – December 19, 2018
Natural Gas News – December 19, 2018
Natural Gas Producer Key to Trump’s Energy Dominance Agenda Strikes New Deal with Malaysia
Washington Examiner reported: Cheniere Energy, the nation’s largest natural gas exporting company, announced a 20-year deal with Malaysia’s government owned oil company on Tuesday to provide the Asian country with a steady supply of U.S. liquefied natural gas. Malaysia’s Petronas has agreed to purchase nearly 1.1 million tons per year of LNG from Cheniere’s Sabine Pass LNG export terminal on the Texas- Louisiana border once its latest expansion project is finished. The Trump administration has made LNG exports a central part of its energy dominance agenda, and has recently been presiding over deals between Cheniere and foreign purchasers of U.S.-sourced natural gas like Poland. The purchase agreement would back the expansion of Cheniere’s Sabine Pass facility in adding a sixth terminal fueling point called a “train.” For more on this story visit washingtonexaminer.com or click https://washex.am/2CkCIiE
NYMEX January Natural Gas Sees Double-Digit Rebound on Rise in Demand
S&P Global reported: A slight rise in demand Tuesday provided impetus for the NYMEX January natural gas futures contract and the rest of the winter to rebound Tuesday after five straight days of exploring the downside. The NYMEX January contract settled at $3.838/MMBtu, up 31 cents from Monday’s close of $3.528/MMBtu. Monday’s settle was the lowest for a front-month contract since November 2 at a $3.31/MMBtu close. Other monthly contracts for the balance of the winter followed the same path, with February increasing 28.90 cents to $3.742/MMBtu and March increasing 25 cents to $3.558/MMBtu. The fall of the winter contracts began early last week. On December 10, January settled at $4.545/MMBtu, but the decline started December 11 as the prompt-month closed that session at $4.407/MMBtu. From there, it was a freefall until Monday, when the front-month ended the day at $3.528/MMBtu. For more on this story visit spglobal.com or click https://bit.ly/2SZ9Ge2
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