LNG feedgas ramp to US Gulf cools Henry Hub summer prices
Henry Hub cash and bal-summer price are set to soften as additional Texas-to-Louisiana pipeline capacity boosts LNG feedgas flows towards the US Gulf Coast, easing oversupply in Texas.
Egypt rushes for LNG as summer power demand tops 40 GW
Egypt is seeking to import more LNG as electricity demand this summer is forecast to rise 8% above last year’s peak of 40 Gigawatt. Regasification capacity has been maximised, while the Damietta LNG export terminal gets used to store cargoes for emergency use.
Shell to deliver LNG cargo to Turkey for Bulgargaz
Shell has won a tender to deliver one LNG cargo to Turkey on behalf of Bulgaria’s state-owned gas supplier Bulgargaz, in a move highlighting Sofia’s reliance on LNG to meet seasonal electricity demand.
Share of US LNG shipments to EU soars
Europe is turning to the US as the most flexible source of replacement gas for lost Qatari volumes, with the share of US LNG soaring to nearly 60% of all LNG arrivals into the EU since the Iran war escalated, according to Kpler data.
Summer heat sends Henry Hub futures soaring
Heatwaves in the eastern part of the U.S. have sent Henry Hub futures soaring as gas-burn stays high at 49.3 bcf/d through July 25, while financial flow risk is skewed to the upside, Energy Aspects finds.
NFE withholds LNG shipments to Puerto Rico in tactical move
New Fortress Energy (NFE) is withholding shipments to Puerto Rico over disputed payment terms. The withheld cargoes undermine the island’s ability to meet electricity demand, raising the risk of blackouts during the peak summer season.
Egypt sets price cap on spot LNG purchases this summer
Egyptian Natural Gas Holding Company (EGAS) is understood to have set a $14/MMBtu cap on spot LNG purchases this summer in response to rising prices in the Atlantic Basin. An additional $2/MMBtu premium is being offered if vendors agree to get payment deferred by one year.
