Connection

popular articles

BYD: Half-year profit up 24.4% despite price war
Bolivia: YPFB seeks funding to revitalize the oil and gas sector
ExxonMobil launches Hammerhead Oil Project in Guyana
India: Petronet LNG adopts Novolen technology to boost production
Engie and Macquarie join forces to extend Mexico’s Mayakan gas pipeline

US Natural Gas Producers Cut Production

U.S. natural gas producers are planning production cuts in 2024 in response to a 40% drop in prices in recent months.
Réduction de production gaz naturel

Please share:

Natural gas producers in the United States are facing a drastic drop in prices, with Henry Hub futures falling to around $2 per million BTU.
At the same time, Waha prices in West Texas recorded a record number of negative values in 2024.
This drop in prices is the result of weaker demand due to cooler-than-expected temperatures, as well as an increase in supply following a rise in production in the second quarter after a 47% increase in prices in April and May.

Reactions from major producers

EQT Corporation, one of the leading natural gas producers in the United States, has incorporated strategic reductions of 90 billion cubic feet equivalent this fall.
These cuts will be implemented if the market remains depressed, as CFO Jeremy Knop indicated on the second-quarter earnings call.
Houston-based Apache Corporation also plans to reduce production by 90 million cubic feet per day in the third quarter.
This follows a 78 million cubic feet per day reduction in the second quarter due to extreme price conditions in the Permian Basin.

Chesapeake and Coterra Energy strategies

Chesapeake Energy, which will become the largest natural gas producer in the US after its merger with Southwestern Energy, is considering deferring some well completions pending a correction of supply/demand imbalances.
This decision is supported by the prospect of an expected increase in demand for LNG, according to Robert Wilson, Vice President of Analysis at East Daley.
Coterra Energy, having reversed some cuts at the end of the second quarter, is preparing for further reductions as its summer sales commitments expire, said Blake Sirgo, senior vice president of operations.

Market outlook

According to the Energy Information Administration (EIA), natural gas production in the United States is expected to average 103.3 billion cubic feet per day this year, compared with 103.8 billion cubic feet per day last year.
This forecast is slightly down on the 103.5 bcf/d estimated in the July report.
Producers are therefore adjusting their strategy in anticipation of more favorable market conditions.
The response of US natural gas producers to falling prices underlines the current challenges facing the energy market.
Planned production cuts could help stabilize prices, pending a recovery in LNG demand.
How the market evolves will depend largely on weather conditions and adjustments in global production.

Register free of charge for uninterrupted access.

Publicite

Latest news

North Macedonia: A Strategic Partnership with SOCAR for Energy Security
Strategic Partnership Between SEFE and Eletrobras for Green Hydrogen Supply
Increase in Premiums for 2025 LNG Contracts Following Trump’s Victory
Six new countries commit to tripling global nuclear production by 2050
Towards Methane Regulation Convergence: U.S. and European Union Collaborate

Recently published in

North Macedonia: A Strategic Partnership with SOCAR for Energy Security

North Macedonia strengthens its energy security with an agreement with SOCAR, aiming at the diversification of natural gas supplies and innovative projects like gas cogeneration.
Increase in Premiums for 2025 LNG Contracts Following Trump’s Victory
Increase in Premiums for 2025 LNG Contracts Following Trump’s Victory
en_1140433540
Increase in Premiums for 2025 LNG Contracts Following Trump’s Victory
Increase in Premiums for 2025 LNG Contracts Following Trump’s Victory
en_1140433540
Towards Methane Regulation Convergence: U.S. and European Union Collaborate
The new European methane regulation is pushing the U.S. to strengthen the compliance of its LNG, paving the way for crucial dialogue between the two major players in the global energy market.
en_1140435540
Towards Methane Regulation Convergence: U.S. and European Union Collaborate
The new European methane regulation is pushing the U.S. to strengthen the compliance of its LNG, paving the way for crucial dialogue between the two major players in the global energy market.
en_1140435540
Sinopec and TotalEnergies: A Preliminary LNG Deal at Record Low Levels
Sinopec and TotalEnergies are negotiating a long-term LNG contract at under 12% of crude oil prices, an unprecedented threshold for Northeast Asia. The agreement includes seller-favorable flexibilities while remaining subject to finalization.
en_1140449540
Sinopec and TotalEnergies: A Preliminary LNG Deal at Record Low Levels
Sinopec and TotalEnergies are negotiating a long-term LNG contract at under 12% of crude oil prices, an unprecedented threshold for Northeast Asia. The agreement includes seller-favorable flexibilities while remaining subject to finalization.
en_1140449540

ADNOC Gas posts increased profits and adopts an ambitious new strategy

With a net profit of $1.24 billion in Q3 2024, ADNOC Gas surpasses expectations and announces a growth strategy targeting a 40% increase in EBITDA by 2029, supported by $15 billion in investments.
Norway Nationalizes its Pipeline Network to Secure Energy Exports
The Norwegian Ministry of Energy has formalized an agreement to nationalize its pipeline network, buying shares from seven private owners and consolidating state control over a crucial strategic infrastructure.
en_1140388540
Norway Nationalizes its Pipeline Network to Secure Energy Exports
The Norwegian Ministry of Energy has formalized an agreement to nationalize its pipeline network, buying shares from seven private owners and consolidating state control over a crucial strategic infrastructure.
en_1140388540
Russian Gas Flows to Europe via Ukraine Maintained Despite Tensions in Kursk Region
Despite escalating tensions and the preparation of a Russian counteroffensive in the Kursk region, Russian gas flows to Europe via Ukraine continue as usual, according to data from GTSOU.
en_1140402540
Russian Gas Flows to Europe via Ukraine Maintained Despite Tensions in Kursk Region
Despite escalating tensions and the preparation of a Russian counteroffensive in the Kursk region, Russian gas flows to Europe via Ukraine continue as usual, according to data from GTSOU.
en_1140402540
Demand Drops for Heavy Fuel Oil in Hong Kong in November, Impact on Ex-Wharf Premiums
Contract premiums for 380 CST fuel oil in Hong Kong fell in November due to weak demand and limited supply, influenced by improved weather conditions in China.
en_1140368540
Demand Drops for Heavy Fuel Oil in Hong Kong in November, Impact on Ex-Wharf Premiums
Contract premiums for 380 CST fuel oil in Hong Kong fell in November due to weak demand and limited supply, influenced by improved weather conditions in China.
en_1140368540

Norwegian Gas Exports to Northwest Europe Rebound in October

After a slowdown in September due to maintenance, Norwegian gas exports to Northwest Europe reached 9.56 billion m³ in October, reflecting a market still vulnerable according to Equinor.
The Uncertain Future of Russian Gas Transit via Ukraine to Europe
The transit of Russian gas through Ukraine may end in late 2024 if no agreement is reached between European buyers and Kyiv. This decision could increase pressure on the European energy market.
en_1140346540
The Uncertain Future of Russian Gas Transit via Ukraine to Europe
The transit of Russian gas through Ukraine may end in late 2024 if no agreement is reached between European buyers and Kyiv. This decision could increase pressure on the European energy market.
en_1140346540
Qatar and Japan: Talks to Strengthen LNG Energy Cooperation
During a visit to Tokyo, Qatar’s Minister of Energy discussed the future of LNG supplies with Japanese companies, as several long-term contracts approach their expiration.
en_1140354540
Qatar and Japan: Talks to Strengthen LNG Energy Cooperation
During a visit to Tokyo, Qatar’s Minister of Energy discussed the future of LNG supplies with Japanese companies, as several long-term contracts approach their expiration.
en_1140354540
Global Liquefaction Capacity Could Reach 700 Million Tons Per Year by 2030, Says Petronet
To meet growing demand, global gas liquefaction capacity could increase by 45% by 2030, supporting decarbonization goals in countries like India, which rely on natural gas for their energy transition.
en_1140353540
Global Liquefaction Capacity Could Reach 700 Million Tons Per Year by 2030, Says Petronet
To meet growing demand, global gas liquefaction capacity could increase by 45% by 2030, supporting decarbonization goals in countries like India, which rely on natural gas for their energy transition.
en_1140353540

Norwegian Gas Exports to Europe Rebound in October, but the Market Remains Vulnerable

After a drop due to maintenance in September, Norwegian gas exports to Northwest Europe increased by 49% in October, a sign of sustained demand despite an uncertain market.
Guyana and Suriname: A New Competitive Source of LNG for the 2030s
Thanks to significant gas projects, Guyana and Suriname could supply up to 12 million tonnes of LNG per year by the next decade, offering a competitive alternative in the global market.
en_1140317540
Guyana and Suriname: A New Competitive Source of LNG for the 2030s
Thanks to significant gas projects, Guyana and Suriname could supply up to 12 million tonnes of LNG per year by the next decade, offering a competitive alternative in the global market.
en_1140317540
Adnoc signs a historic agreement with SEFE to secure Germany’s LNG supply
Adnoc signs a historic agreement with SEFE to secure Germany's LNG supply
en_1140315540
Adnoc signs a historic agreement with SEFE to secure Germany’s LNG supply
Adnoc signs a historic agreement with SEFE to secure Germany's LNG supply
en_1140315540
The Northern Natural Gas Pipeline: A Strategic Lever for Argentina’s Energy Independence
The new Northern Natural Gas Pipeline connects shale gas resources from Neuquén to northern Argentina, aiming to reduce imports and open up export opportunities.
en_1140271540
The Northern Natural Gas Pipeline: A Strategic Lever for Argentina’s Energy Independence
The new Northern Natural Gas Pipeline connects shale gas resources from Neuquén to northern Argentina, aiming to reduce imports and open up export opportunities.
en_1140271540

Senegal: Investment Decision Anticipated for the Yakaar-Teranga Gas Project in 2025

Senegal is poised for an energy milestone with the final investment decision (FID) for the Yakaar-Teranga gas project expected in the first quarter of 2025.
The Biden Administration Challenges Order to Resume LNG Export Permits
The White House calls on an appeals court to suspend the obligation to lift the moratorium on liquefied natural gas (LNG) export permits imposed by a Louisiana court.
en_1140265540
The Biden Administration Challenges Order to Resume LNG Export Permits
The White House calls on an appeals court to suspend the obligation to lift the moratorium on liquefied natural gas (LNG) export permits imposed by a Louisiana court.
en_1140265540
Sonatrach signs a historic agreement to supply natural gas to the Czech Republic
Algeria strengthens its position in the European energy market with a new agreement between Sonatrach and ČEZ Distribuce for the supply of natural gas, meeting the Czech Republic's growing demand for energy diversification.
en_1140238540
Sonatrach signs a historic agreement to supply natural gas to the Czech Republic
Algeria strengthens its position in the European energy market with a new agreement between Sonatrach and ČEZ Distribuce for the supply of natural gas, meeting the Czech Republic's growing demand for energy diversification.
en_1140238540
TotalEnergies signs a deal to supply 2 million tons of LNG to Sinopec over 15 years
TotalEnergies signs a deal to supply 2 million tons of LNG to Sinopec over 15 years
en_1140245540
TotalEnergies signs a deal to supply 2 million tons of LNG to Sinopec over 15 years
TotalEnergies signs a deal to supply 2 million tons of LNG to Sinopec over 15 years
en_1140245540

Gas consumption in Germany falls for the second consecutive year

Gas consumption in Germany falls for the second consecutive year
EUs Energy Security Strengthened: Gas Storage Surpasses Targets Before Winter
EU’s Energy Security Strengthened: Gas Storage Surpasses Targets Before Winter
en_1140231540
EUs Energy Security Strengthened: Gas Storage Surpasses Targets Before Winter
EU’s Energy Security Strengthened: Gas Storage Surpasses Targets Before Winter
en_1140231540
The EU Invests in a New Gas Corridor to Secure LNG Supply from the U.S.
The EU Invests in a New Gas Corridor to Secure LNG Supply from the U.S.
en_1140216540
The EU Invests in a New Gas Corridor to Secure LNG Supply from the U.S.
The EU Invests in a New Gas Corridor to Secure LNG Supply from the U.S.
en_1140216540
East Mediterranean LNG Prices Decline Amid Weak European Demand
Liquefied natural gas (LNG) prices in the Eastern Mediterranean are falling, impacted by weak European demand and reduced shipping costs while gas reserves remain high.
en_1140173540
East Mediterranean LNG Prices Decline Amid Weak European Demand
Liquefied natural gas (LNG) prices in the Eastern Mediterranean are falling, impacted by weak European demand and reduced shipping costs while gas reserves remain high.
en_1140173540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS