Man Bites Dog: Elba Island & Cove Point *Import* LNG from Trinidad
Here’s an unusual turn of events. During the recent cold snap and winter storm, the Cove Point LNG export facility (in Maryland) and Elba Island (in Georgia) stopped exporting LNG and instead *imported* LNG—from Trinidad and Tobago. They aren’t the only ones. The Everett LNG import facility off the coast of Boston and Canaport in New Brunswick, Canada, also imported Trinidad LNG cargoes. What the heck is going on here? We’ll explain. Read More “Man Bites Dog: Elba Island & Cove Point *Import* LNG from Trinidad”
Reverting back to true form by obsequiously bowing to environmental extremists, New York Governor Kathy Hochul ordered her lapdogs at the state Department of Environmental Conservation (DEC) to log an objection with the Federal Energy Regulatory Commission (FERC) to a request by Williams to resurrect the Constitution Pipeline project. Even though Hochul bartered a deal with President Trump to allow this pipeline (see 
Baker Hughes has signed a multi-year agreement with Expand Energy, North America’s largest natural gas producer, to deploy its Leucipa™ AI-powered production solution across thousands of U.S. wells. This collaboration focuses on optimizing operations in the Marcellus, Utica, and Haynesville shales using data-driven insights and “Lucy,” a generative AI production assistant. Leucipa will make Expand’s operations more efficient and reliable by streamlining field decision-making and forecasting. AI comes to the shale fields of the Marcellus/Utica! 
A pretty unique situation is happening with the price of natural gas, both the NYMEX futures price and the spot (cash) price. Yesterday was the last day for the NYMEX February contract as the “front month.” The price, already high, rose further, adding 50.6 cents from the previous day to close at $7.46 per million British thermal units (MMBtu). It is the highest settlement value since Wednesday, Sept. 21, 2022. However, yesterday the physical spot (cash) price for natural gas crashed back down to earth. The benchmark Henry Hub lost about 75% of its value yesterday. Today, the March NYMEX contract becomes the “front month.” As of this morning, the March contract is trading around $3.80/MMBtu. The reason the NYMEX soared again yesterday was a short squeeze. 
MARCELLUS/UTICA REGION: Powering Pennsylvania in the ‘demand decade’; OTHER U.S. REGIONS: Freeport LNG mulls rescheduling cargoes as heating demand surges; Exxon begins commercial CCS project with CF industries in Louisiana; NATIONAL: Coal-fired generation rose to meet demand during Winter Storm Fern; Winter storm wrecks power lines as hundreds of thousands are still without power; Democrats must learn to say ‘all of the above’ on energy; US crude, natural gas production recover after winter storm ravages output; Climate alarmists are often wrong but never in doubt; US shale production could fall by 400,000 barrels per day if prices dip to $40 a barrel; Energy wisdom needed with candidates running for public office; INTERNATIONAL: Trump Iran threat pushes oil higher; Europe likely to remain a key outlet for U.S. LNG.