natural gas demand

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,…

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…

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…

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…

Harsh winter freezes could propel natural gas across large swaths of the northern United States this winter, while unrelenting drought conditions in the West could result in weaker hydropower and drive more gas demand for cooling in California and the Southwest next spring when temperatures rise. Across most of the southern United States, however, winter…

Mexico is unlikely to substantially increase its natural gas production over the next five to six years, according to upstream regulator Comisión Nacional de Hidrocarburos (CNH). In its latest “prospectiva” or outlook for oil and natural gas output, the regulator modeled high, low and medium production growth scenarios for each hydrocarbon. The high case scenario…

The United States could see increased upward pressure on natural gas prices compared with last winter, as cold weather and surging demand threaten to offset production gains, according to the National Gas Supply Association’s (NGSA) Winter Outlook. In the forecast presented Wednesday, NGSA Chairman David Attwood, who is an ExxonMobil vice president, touted the “comeback…

Natural gas futures plummeted on Monday, with a plethora of weak market signals – including the potential for five straight triple-digit storage injections – sending November prices as much as 46 cents below Friday’s close. The November Nymex contract ultimately settled Monday at $6.470/MMBtu, down 29.6 cents. Spot gas prices recovered on Monday, led by…

The October Nymex natural gas futures contract spiked 83.0 cents day/day on Wednesday to surge above $9.00/MMBtu. It then plummeted back to earth on Thursday as rumors of a potential railway workers strike faded in the United States. The news “that a strike has likely been averted triggered the start of selling early this morning,…