natural gas demand

Natural Gas Futures Extend Winning Streak; Cash Prices Strengthen Across Lower 48

Natural Gas Futures Extend Winning Streak; Cash Prices Strengthen Across Lower 48

Natural gas futures forged higher for a sixth consecutive session on Wednesday as traders focused on weakening production and forecasts for chilly March conditions. The April Nymex gas futures contract settled at $2.811/MMBtu, up 6.4 cents day/day. May rose 8.0 cents to $2.943. At A Glance: Analysts see storage pull in 70s Bcf Mid-March forecasts…

March 1, 2023
Mexican Nearshoring Opportunities Seen Spurring Energy Needs

Mexican Nearshoring Opportunities Seen Spurring Energy Needs

The massive opportunities presented by nearshoring were all the rage last week at a packed energy conference in Monterrey, Nuevo León. Industry Exchange LLC’s 8th Mexico Infrastructure Projects Forum kicked off with government officials and executives expounding on the theme. Nuevo León Economy Secretary Iván Rivas said, “We will do everything to take advantage of…

February 2, 2023
Natural Gas Futures, Spot Prices Plunge as Weak Demand Outlook Overshadows Big Storage Pull

Natural Gas Futures, Spot Prices Plunge as Weak Demand Outlook Overshadows Big Storage Pull

Natural gas futures resumed a downward spiral on Thursday after a hefty but disappointing storage withdrawal failed to impress markets, leaving traders to focus on forecasts for mild weather and diminished demand through January. At A Glance: EIA prints 221 Bcf draw Production bounces back Demand begins to fade The February Nymex gas futures contract…

January 5, 2023
February Natural Gas Futures Flop Despite 221 Bcf Storage Withdrawal

February Natural Gas Futures Flop Despite 221 Bcf Storage Withdrawal

The U.S. Energy Information Administration (EIA) on Thursday reported a withdrawal of 221 Bcf natural gas from underground storage for the week ended Dec. 30. The result, while massive relative to historic norms, fell shy of expectations and left Nymex natural gas futures deep in negative territory. Ahead of the 10:30 ET government report, the…

January 5, 2023
Bolstered by Lofty Storage Withdrawal Expectations, Natural Gas Futures Prices Notch First Gain of 2023

Bolstered by Lofty Storage Withdrawal Expectations, Natural Gas Futures Prices Notch First Gain of 2023

Natural gas futures found fresh footing in positive territory Wednesday, marking the first gain of 2023, amid estimates for a massive storage withdrawal report. At A Glance: Near-term weather favorable for bulls Analysts see triple-digit storage pull Outlook shows heating demand fading After dropping 48.7 cents in the previous session and closing below $4.00, the…

January 4, 2023
Mexico’s Pemex Eyeing Substantial Natural Gas Production Increase in 2023

Mexico’s Pemex Eyeing Substantial Natural Gas Production Increase in 2023

Mexico’s national oil company Petróleos Mexicanos (Pemex) is targeting full-year average natural gas production of 4.67 Bcf/d in 2023, up 20% from the 3.88 Bcf/d averaged in the third quarter of 2022. The growth is expected to be led by new fields such as Quesqui and Ixachi, Pemex said in its recently released 2023-2027 business…

January 4, 2023
Nymex Natural Gas Futures Expire Sharply as Lower Mild Weather Trumps Supply Cuts

Nymex Natural Gas Futures Expire Sharply as Lower Mild Weather Trumps Supply Cuts

Natural gas futures plummeted on Wednesday as weather models indicated that the warmer pattern that emerged following Winter Storm Elliott may stick around a bit longer than earlier projected. Though supply remains suppressed because of freeze-offs, the January Nymex gas futures contract rolled off the board 57.3 cents lower day/day at $4.709/MMBtu. The February contract,…

December 28, 2022
ComEd Study Sees Monthly Natural Gas Heating, Gasoline Fuel Costs Rising in Illinois

ComEd Study Sees Monthly Natural Gas Heating, Gasoline Fuel Costs Rising in Illinois

Energy and Environmental Economics Inc. (E3), a sustainability consulting firm, revealed that while electrification overtakes natural gas heating as Illinois targets net-zero emissions by 2050, the state’s electric grid may shift from a summer-peaking to a winter-peaking system.  In a study commissioned by the state’s largest electric utility, Commonwealth Edison Co. (ComEd), E3 reported that…

December 28, 2022
CFE, Engie Expanding Mayakan Natural Gas Pipeline in Mexico’s Southeast

CFE, Engie Expanding Mayakan Natural Gas Pipeline in Mexico’s Southeast

Mexico’s Comisión Federal de Electricidad (CFE) has signed yet another deal with a private sector firm to increase natural gas transport in the country. This time it’s with French company Engie SA. The two firms will work together to expand capacity on the 483-mile, 250 MMcf/d Mayakan pipeline, in the Yucatán Peninsula. The Engie trunkline…

November 29, 2022
North American Natural Gas Consumption Still Seen Strong at Mid-Century

North American Natural Gas Consumption Still Seen Strong at Mid-Century

North America in 2050 is likely to remain “heavily reliant” on natural gas, creating a hurdle in the transition to net-zero carbon emissions, according to experts Renewables in the United States and Canada overall are forecast to comprise “only 34% of primary energy consumption” by mid-century, DNV researchers said in their report, Energy Transition Outlook…

October 27, 2022