US NATGAS: Kinder Morgan Sees Rising Natgas Demand from Mexico: BNamericas
Kinder Morgan, anticipates growing natural gas demand in North America, driven by Mexico’s new combined-cycle gas turbine (CCGT) power plants and LNG projects, BNamericas said.
- Kinder Morgan’s CEO Kim Dang is projecting that exports to Mexico will boost natural gas demand by 1 bcf/d by 2030.
- Kinder Morgan, supplying about 50% of US natgas exports to Mexico, expects increased demand from four CCGT plants operated by Mexico’s state-owned utility CFE.
- These plants have a combined 2.2GW capacity starting in 2025. An additional five plants totalling 2.8GW will be tendered this year.
- Additionally, LNG projects like Sempra Energy’s Energia Costa Azul (ECA) on Mexico’s Pacific coast will boost demand for US feed gas.
- ECA’s Phase 1, set for 2026, will produce 3m mtpa of LNG, primarily for Asian markets, with Phase 2 potentially adding 12m mtpa.
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US TSY OPTIONS: BLOCK: Large Jun'25 10Y Volatility Buying
- +15,000 TYM5 107.5/113.5 strangles, 35 vs. 110-18.5/0.05% at 0917:53ET
- Additionally, +9,000 TYM5 108/113 strangles, 45 vs. 110-19/0.05% on screen
UK: BOE MNI Instant Answer questions for March 2025 meet
The BOE policy decision is due March 20, with the answers to below questions published at midday:
1. Was the Bank Rate changed, and if so by how much?
2. Number of members voting for cut of 50bp or greater?
3. Number of members voting for 25bp cut?
4. Number of members voting for unchanged rate?
NB: On questions 2-4 we will name the dissenters (and the magnitude of dissent)
5. Did the MPC drop reference to a “gradual approach” to removing “policy restraint being appropriate” from their Statement?
6. In the guidance, alongside a “gradual” approach to removing policy restraint, did the MPC use “careful”?
7. Did the MPC again say Bank Rate is likely to “remain restrictive for sufficiently long”?
8. Did the MPC again say it will “decide the appropriate degree of monetary policy restrictiveness at each meeting”?
9. Did the MPC leave its guidance paragraph materially unchanged versus the February policy statement?
EQUITIES: US Cash Opening calls
US Cash opening calls, set for a steady open, SPX should be close to Yesterday's mid range, as the Emini also trades at Yesterday's mid pre Cash open.
- Calls: SPX: 5,659.3 (-0.3%); DJIA: 41,799 (-0.1%/-43pts); NDX: 19,708.3 (-0.5%).
