natural gas forecast

Global energy demand is set to rise as income and population grow, with natural gas, oil and coal in 2050 still meeting more than half of total consumption, in part because of the high cost of new technologies, according to Wood Mackenzie. The consultancy’s 2023 Energy Transition Outlook (ETO) highlights the “energy challenge trinity” impacting…

Lower natural gas prices and refining margins may pull ExxonMobil’s second quarter profits down from the first three months of the year by nearly $4 billion. In a Form 8-K filing with the U.S. Securities and Exchange Commission, the supermajor previewed the factors impacting 2Q2023 results. ExxonMobil is facing the same dilemma as its peers…

Banks that lend to the oil and gas sector have substantially reduced their expectations for natural gas prices over the next couple years, according to a new survey by Haynes and Boone LLP. The law firm conducts a biannual Energy Bank Price Deck Survey of banks that offer reserve-based lending (RBL), a vital funding source…

Amid lower-than-expected heating demand this winter, the Energy Information Administration (EIA) said Tuesday it is raising its projected end-March natural gas storage carryout to more than 1.9 Tcf, a 27% increase compared to projections issued in January. A 1.9 Tcf end-March carryout would also represent a 23% surplus to the prior five-year average, EIA said…

The U.S. natural gas market is expected to have a greater impact on the global LNG trade in the future as more projects are built and the world’s supply contracts are increasingly tied to Henry Hub, Shell plc reported Thursday in its annual liquefied natural gas outlook.  Qatar and the United States are expected to…

U.S. natural gas prices are expected to prove volatile through much of 2023, though the lofty $10 handle approached last summer appears far from reach, given ample supplies and the specter of a recession. Such is the assessment of the Energy Information Administration (EIA) in a report released Thursday. In the supplement to its latest…

Kinder Morgan Inc. (KMI) said it expects to post stellar full-year earnings this year and match those results in 2023. Boosted by natural gas demand and elevated prices through much of this year – and expectations for more of the same in 2023 — the Houston-based midstream giant said it expects earnings to swell to…

With storage refilling at a faster-than-expected clip ahead of winter, the U.S. Energy Information Administration (EIA) has slashed its projected natural gas spot price for the remainder of 2022 and the first quarter of 2023. In its latest Short-Term Energy Outlook (STEO), published Tuesday, the agency said it now expects Henry Hub spot prices to…

With storage refilling at a faster-than-expected clip ahead of winter, the Energy Information Administration (EIA) has slashed its projected natural gas spot price for the remainder of 2022 and the first quarter of 2023. EIA now expects Henry Hub spot prices to average around $6/MMBtu for 4Q2022 and 1Q2023, a discount of more than $1…