In the first six months of 2020, henry hub natural gas prices averaged just $1.81/MMBtu, the lowest first half on record. – For the month of June, prices averaged $1.63/MMBtu, the lowest monthly average since 1989. – Factors include warm weather, high production, high inventories, Covid-19 related demand destruction, and the curtailment of U.S. LNG exports. – The EIA expects spot prices to average $2.05/MMBtu in the second half of the year. Market Movers – Tellurian (NASDAQ: TELL) has failed to qualify for a tender for competitively priced LNG in India, as the $2.5 billion stake proposed by Petronet expired. The original announcement that the deal was in trouble caused Tellurian’s share price to crash several months ago. Breaking ground on the Driftwood […]