Three analysts last week raised their projections for U.S. natural gas prices through this year based on wintry weather consumption and based on evidence that U.S. natural gas production has flattened, with the shift back to coal-fired generation is “stickier” than expected.
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Barclays Lifts Natural Gas Price Projections for 2013
Wintry weather boosted natural gas consumption and has lifted prices, but the trajectory of U.S. supplies largely has remained unchanged, and that means gas prices may “hunt” this year for the right level of gas-to-coal displacement to keep the market balanced, according to an analysis by Barclays Capital.
Shales Help Push Lower 48 Production Up 1% from Year Ago
Natural gas production in the Lower 48, boosted by output from shale plays, was up to 72.70 Bcf/d in December, almost 1% (0.62 Bcf/d) over December 2011, but down 1.1% (0.83 Bcf/d) compared with November, according to the most recent data from the Energy Information Administration (EIA).
IEA: China to Lead Medium-Term Natgas Demand Growth
Over the next five years China will more than double its natural gas consumption, while low gas prices continue to support the U.S. economy and the United States becomes a net exporter of liquefied natural gas (LNG), according to the International Energy Agency (IEA). However, a weak economy, growing reliance on renewables and relatively high natural gas prices will limit demand in Europe, IEA said.
IEA: China to Lead Medium-Term Natgas Demand Growth
Over the next five years China will more than double its natural gas consumption, while low gas prices continue to support the U.S. economy and the United States becomes a net exporter of liquefied natural gas (LNG), according to the International Energy Agency (IEA). However, a weak economy, growing reliance on renewables and relatively high natural gas prices will limit demand in Europe, IEA said.
‘Tidal Wave Shift’ to Permian, Says Baker Hughes CEO
Baker Hughes Inc. CEO Martin Craighead said Tuesday the company sees a big expansion of oilfield services ahead in the Permian Basin, of late the mecca for operators looking for liquids-rich reserves in the old guard oil and gas formations.
WSI: Spring, Early Summer Temperatures a Mixed Bag
Following an unusually warm winter that limited natural gas consumption and helped drive prices down and inventories to historic highs, spring and early summer are likely to bring a mixed weather bag, including mostly warmer-than-normal temperatures in the Northeast, according to forecasters at Andover, MA-based Weather Services International (WSI).
WSI: Spring and Early Summer Temperatures a Mixed Bag
Following an unusually warm winter that limited natural gas consumption and helped drive prices down and inventories to historic highs, spring and early summer are likely to bring a mixed weather bag, including mostly warmer-than-normal temperatures in the Northeast, according to forecasters at Andover, MA-based Weather Services International (WSI).
EIA: Gas Heating Costs Set to be Lowest in Nine Years
U.S. household expenditures for natural gas this winter are on track to be the lowest in nine years, while consumption is poised to finish the 2011-2012 heating season at a 10-year low, according to the Energy Information Administration (EIA).
Experts Agree: LNG Exports Should Be ‘Driven by Market’
In light of the natural gas supply revolution in the United States, four energy experts told a Senate energy panel Tuesday that they support the export of liquefied natural gas (LNG).