Texas LNG Secures Bank Group for $5.7B Debt Financing, FID Soon
Glenfarne’s Texas LNG facility in Brownsville, Texas, will have a capacity of 4 MTPA. EQT Corporation, the largest natural gas producer in the Marcellus/Utica, signed two agreements with Glenfarne to liquefy 2.0 million tons per annum (MTPA) of EQT-extracted shale gas at the facility when it’s built (see EQT Signs Contract to Ship 264 MMcf/d to LNG Export Plant in Texas). That works out to be roughly 264 million cubic feet per day (MMcf/d) of EQT’s M-U molecules hitching a ride to South Texas. Good news: Glenfarne has raised $5.7 billion in debt financing to build it. The company actually had people raise their hands, representing $10 billion on offer. Read More “Texas LNG Secures Bank Group for $5.7B Debt Financing, FID Soon”
OTHER U.S. REGIONS: New transmission line connecting Hydro-Quebec to ISO-NE begins; Stalling the New York Climate Act – pause evaluation; Newark, NJ officials look to stop fossil fuels; Freeport LNG in Texas to take in more gas after Thursday shutdown; NATIONAL: U.S. natural gas futures rise on weather-driven demand; State attorneys general demand end to climate bias aimed at federal judges; Democratic governors ignore energy realities; Left using ignorance and deceit on natural cold to push climate narrative; INTERNATIONAL: Oil closes lower but posts strong monthly gain; The Blob wants to track your car, limit your travel, get more of your money; Poor nations won’t follow Europe and the UN into energy suicide; Europe gas set for biggest monthly gain since 2023 amid cold snaps. 
The Marcellus/Utica region received a combined 10 new drilling permits last week, Jan. 19 – 25, down significantly from the 27 issued two weeks ago. Pennsylvania issued 6 new permits, Ohio issued 4, and West Virginia issued none. The drillers receiving new permits last week included: Ascent Resources, EOG Resources, Expand Energy, and Pennsylvania General Energy. 
All the major media outlets (Reuters, Bloomberg, Financial Times) are reporting that a merger announcement between Coterra Energy and Devon Energy is very close, likely to happen next week, according to sources “familiar with the discussions.” MDN reported on the rumors of a potential merger earlier this month (see 
Yesterday, the NYMEX natural gas March futures contract became the “front month” contract after the previous February contract expired. As we reported, the February contract went into the stratosphere, closing at $7.46/MMBtu based on something called a short squeeze (see 
National Fuel Gas Company (NFG) is an integrated natural gas company with a regulated utility business, a shale drilling business (Seneca Resources), and a pipeline business (NFG Midstream, Empire Pipeline). The company issued its fiscal first quarter update yesterday, which is everyone else’s calendar fourth quarter update. The company reported that Seneca produced 109 Bcf of natural gas, an increase of 11 Bcf, or 12%, from the prior year, due to new Utica pads that came online in Tioga County. 
In December, representatives from Chesapeake Utilities and BHE GT&S, a subsidiary of Berkshire Hathaway Energy, presented a proposal to the Port Canaveral Authority to construct a new liquid natural gas (LNG) liquefaction facility in Brevard County, FL (see 
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. 
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. 