The post Natural Gas Futures Rise 2% Following Export Forecast appeared first on theprimarymarket.com.
]]>The main source of investor uncertainty going into 2023 is whether Freeport LNG will restart its Texas plant. Having been shut down due to several delays over October, November, and December, the company expects its facility to return to operation in the second half of January.
Should Freeport stick to its initial assessment, this would prove analysts’ expectations of a return during the first quarter of 2023 correct. Freeport’s return to operation is expected to drive an increase in the U.S. demand for gas.
Recently, numerous vessels have been spotted waiting in the Gulf of Mexico to fetch LNG shipments from Freeport, including Prism Diversity, Prism Courage, Prism Agility, and Elisa Larus. Some of these vessels have been waiting since early November.
According to data provider Refinitiv, the average U.S. gas demand will jump from 110.5 bcfd this week to 121.5 bcfd next week despite the weather proving to be warmer than expected in January.
The post Natural Gas Futures Rise 2% Following Export Forecast appeared first on theprimarymarket.com.
]]>The post U.S. Natural Gas Futures Surge Amid Rising LNG Exports appeared first on theprimarymarket.com.
]]>Additionally, the market was also awaiting the return of Freeport LNG’s 2.1-billion-cubic-feet-per-day (bcfd) export plant in Texas, which Freeport now expects to return to operation at least partially in mid to early November. The facility was previously shutdown on June 8 following a pipeline explosion.
Refinitiv data revealed that four vessels are already lined up at Freeport to pick up LNG deliveries. While Prism Brilliance and Prism Diversity are already docked and waiting for their shipments, Prism Courage is expected to arrive on November 1 while Grace Freesia has an expected arrival of 27 November.
Front-month gas futures gained 56.8 cents on Monday morning to $6.252 per million British thermal units; the contract’s biggest close since October 14. In addition, this 10% rise is the contract’s highest close since mid-July.
The post U.S. Natural Gas Futures Surge Amid Rising LNG Exports appeared first on theprimarymarket.com.
]]>The post Natural Gas Futures Rise 2% Following Export Forecast appeared first on theprimarymarket.com.
]]>The main source of investor uncertainty going into 2023 is whether Freeport LNG will restart its Texas plant. Having been shut down due to several delays over October, November, and December, the company expects its facility to return to operation in the second half of January.
Should Freeport stick to its initial assessment, this would prove analysts’ expectations of a return during the first quarter of 2023 correct. Freeport’s return to operation is expected to drive an increase in the U.S. demand for gas.
Recently, numerous vessels have been spotted waiting in the Gulf of Mexico to fetch LNG shipments from Freeport, including Prism Diversity, Prism Courage, Prism Agility, and Elisa Larus. Some of these vessels have been waiting since early November.
According to data provider Refinitiv, the average U.S. gas demand will jump from 110.5 bcfd this week to 121.5 bcfd next week despite the weather proving to be warmer than expected in January.
The post Natural Gas Futures Rise 2% Following Export Forecast appeared first on theprimarymarket.com.
]]>The post U.S. Natural Gas Futures Surge Amid Rising LNG Exports appeared first on theprimarymarket.com.
]]>Additionally, the market was also awaiting the return of Freeport LNG’s 2.1-billion-cubic-feet-per-day (bcfd) export plant in Texas, which Freeport now expects to return to operation at least partially in mid to early November. The facility was previously shutdown on June 8 following a pipeline explosion.
Refinitiv data revealed that four vessels are already lined up at Freeport to pick up LNG deliveries. While Prism Brilliance and Prism Diversity are already docked and waiting for their shipments, Prism Courage is expected to arrive on November 1 while Grace Freesia has an expected arrival of 27 November.
Front-month gas futures gained 56.8 cents on Monday morning to $6.252 per million British thermal units; the contract’s biggest close since October 14. In addition, this 10% rise is the contract’s highest close since mid-July.
The post U.S. Natural Gas Futures Surge Amid Rising LNG Exports appeared first on theprimarymarket.com.
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