U.S. natural gas futures jumped over 10% on Sept. 23 from a seven-week low in the prior session as output continues to slide, demand edges up and LNG exports increase.
In early July, two U.S. energy groups gave up their six-year battle to build a natural gas pipeline, despite fighting all the way to the U.S. Supreme Court to obtain a permit.
The problem for the crude oil industry is that it can't really predict the demand side of the equation with any accuracy, given the uncertain nature of the recovery from the COVIE-19 pandemic.
Several U.S. LNG export plants stepped up to supply more of the super-cooled fuel even though Cameron LNG's facility in Louisiana remains shut due to lingering power problems after Hurricane Laura.
U.S. energy regulators on Sept. 10 granted Freeport LNG's request for three more years—until May 2026—to complete its proposed fourth liquefaction train at its LNG export plant in Texas.
Chancellor Angela Merkel is under mounting pressure from members of her conservative party to suspend the Nord Stream 2 pipeline, a huge project to double Russian gas exports to Germany.
U.S. energy regulators on Aug. 27 granted Kinder Morgan's request to put in service the 10th and final liquefaction train at the company's nearly $2 billion Elba Island LNG export plant in Georgia.