U.S. LNG Feedgas Gets a Boost from New Plaquemines Terminal

Total U.S. LNG feedgas demand averaged 14.76 Bcf/d last week, up 32 MMcf/d from the week prior, with a big jump up in intake at the new Plaquemines LNG offsetting lower inflows at Freeport.

Another Record for LNG Canada Partners’ Gas Production

Combined natural gas production of the equity partners in LNG Canada reached a record 2.26 Bcf/d in November 2024 (combined height of the rightmost colored bars in chart below), a slight gain of 0.01 Bcf/d versus October and 0.4 Bcf/d higher than one year ago.

U.S. Monthly Propane to Crude Ratio - Chart Toppers

With colder weather, the price of propane is up slightly to about 47% the price of NYMEX crude. The ratio averaged less than 40% in December. This is the highest the ratio has been since September 2024 when it averaged about 50%.

First Co-Loaded Ammonia and Propane Shipment Departs U.S. and Arrives in Europe

Commodity trader Trafigura and CF Industries, the world’s largest ammonia producer, have successfully completed the first shipment of ammonia with LPG on the same vessel, demonstrating the ability to transport low-carbon ammonia to ports with less demand for full ammonia shipments.

Permian Natural Gas Production Dips as Freezing Temperatures Arrive

Natural gas production in the Permian Basin was relatively strong between 20.28 to 20.48 Bcf/d last week but then dropped by nearly 0.5 Bcf/d on Sunday as temperatures in the basin plummeted. Production levels dropped to 19.65 Bcf/d on Monday.

Price Spreads for Canadian Heavy Crude in the Gulf Coast Remain Historically Narrow

In recent weeks, the price spread in the Gulf Coast region for Western Canadian Select (WCS) and Access Western Blend (AWB), two grades of Canadian heavy crude oil that are actively traded for physical delivery to refiners and exporters in the Gulf Coast region, have been hovering at their narrow

Uneven Flaring at LNG Canada Suggests Slow Ramp Up of Commissioning Activity

Gas intake developments at LNG Canada remain uncertain. The latest community update released by LNG Canada on January 18 indicated that it would be undertaking increased flaring on January 20 and which will occur intermittently in the follow-on four week period.

US Rig Count Drops To 580 On Losses In Bakken, Gas Directed Rigs Fall Below 100

US oil and gas rig count declined for the second consecutive week, falling to 580 for the week ending January 17 - a decline of four vs. a week ago according to Baker Hughes.

Storage Surplus Disintegrates as Natural Gas Futures Soar

The Energy Information Administration reported Thursday that 258 Bcf was withdrawn from storage during the week ended January 10, decreasing the U.S. working gas inventory to 3,115 Bcf. This is nearly identical to the 257-Bcf average of the 10 estimates submitted to the Bloomberg survey.

Canadian Drilling – Rig Counts Push Higher into the Heart of the Winter Drilling Season

For the week ending January 17, Baker Hughes reported that the Western Canadian gas-directed rig count rose one to 73 (blue line and text in left hand chart below), ten less than one year ago and its highest level since the final week of March 2024.

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