US NATGAS: US LNG Weekly Recap
Dec-05 18:49
See Weekly Recap here: US_LNG_Weekly_2025-12-05.pdf
- Feedgas demand from US LNG export facilities hit a new record Dec. 4 at 19.12 Bcf/d, primarily driven by Corpus Christi closing in on 2.5 Bcf/d of demand. LNG exports hit a new record in November at about 24 MMcm spread across 148 cargoes. December exports to Dec. 3 are 1.91 MMcm, according to Bloomberg vessel tracking.
- Alaska LNG: Glenfarne Alaska LNG and POSCO International Corporation announced the signing of a definitive agreement finalizing a strategic partnership to develop Alaska LNG and agree to a 20-year HOA for 1 MTPA offtake.
- Golden Pass LNG: FERC authorized Golden Pass to receive its cool-down cargo and introduce hazardous fluids into the LNG system. The cargo is due to arrive on Dec. 7, per Kpler.
- Texas LNG: Glenfarne’s Texas LNG project has signed a 20-year 0.5 MTPA offtake agreement with Macquarie Energy. It adds Texas LNG’s portfolio that includes a 20-year SPA with Gunvor for 0.5 MTPA.
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PIPELINE: Corporate Bond Update: Over $9.5B Debt to Issue Wednesday
Nov-05 18:35
- $9.65B to price Wednesday, $56.05B/wk
- Date $MM Issuer (Priced *, Launch #)
- 11/05 $1.7B #Transcontinental Gas Pipeline $1B 10Y +95, $700M 30Y +105
- 11/05 $1.25B #Intercontinental Exchange $600M 3Y +45, $650M +5Y +60
- 11/05 $1.25B #Equinix 5Y +85
- 11/05 $1B #Santos Finance 10Y +168
- 11/05 $850M #AviLease Capital 5Y +110
- 11/05 $750M #Apollo Global Mgt $400M 5Y +85, $350M 8/35 Tap +110
- 11/05 $750M #CBRE Services 7Y +98
- 11/05 $600M #Mattel 5Y +130
- 11/05 $500M #Polaris +5Y +185
- 11/05 $1B *KEPCO $600M 3Y SOFR+62, $400M 5Y +47
GBPUSD TECHS: Bear Leg Extension
Nov-05 18:30
- RES 4: 1.3471 High Oct 17 and a key short-term resistance
- RES 3: 1.3369 50-day EMA
- RES 2: 1.3249/3277 Low Oct 14 / 20-day EMA
- RES 1: 1.3142 Low Aug 1
- PRICE: 1.3041 @ 15:57 GMT Nov 5
- SUP 1: 1.3010 Low Nov 4
- SUP 2: 1.2971 1.382 proj of the Sep 17 - 25 - Oct 1 price swing
- SUP 3: 1.2945 50.0% retracement of the Jan 13 - Jul 1 bull leg
- SUP 4: 1.2877 1.618 proj of the Sep 17 - 25 - Oct 1 price swing
A sharp sell-off in GBPUSD Tuesday reinforces bearish conditions. A key support at 1.3142, the Aug 1 low, has recently been cleared. The break confirmed a resumption of the downtrend that started Sep 17. Sights are on 1.2971 next, a Fibonacci projection point. Note that the trend is in oversold territory, a recovery would allow this condition to unwind. Initial resistance is at 1.3142, the Aug 1 low.
US: FED Reverse Repo Operation
Nov-05 18:20
RRP usage slips to $12.700B with 12 counterparties this afternoon - from $16.893B Tuesday. Compares to $2.435B on October 24 (lowest level since mid-March 2021) and the year's highest usage of $460.731B on June 30.
