Despite very nasty winter weather setting in or approaching inmany regions Friday, weekend prices were softer everywhere exceptat most West Coast points. Most declines ranged from about a dimeto 20 cents, but the PG&E citygate and Pacific Northwestregistered moderate advances and the Southern California border sawa whopping advance of almost $2.
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Major Growth Expected in U.S. LNG Market
Once upon a time, some regions of the United States were having problems meeting peak seasonal demand for natural gas. Inadequate pipeline and storage capacity, combined with production exceeding new natural gas discoveries, sent suppliers looking for alternatives. Imported liquefied natural gas became a hot commodity. Now the story has been rewound and is playing all over again — with bigger players and a wider stage.
EIA: Supply Fears Prop Up Spot, Futures Prices
Due to warm winter weather in certain regions last month,increased fuel switching and industrial slowdowns, the countryconsumed 140 Bcf less natural gas than was anticipated in January,which led to much lower spot gas prices towards the end of themonth, according to the Energy Information Administration’s (EIA)Short-term Energy Outlook for February.
Prices Up Strongly Except in CA, But May Be Peaking
Weather that either was already bringing snow or was expected todo so soon in several regions, accompanied by some initial screensupport, pushed the cash market sharply higher Thursday at nearlyall points. Only the PG&E citygate and Southern Californiaborder registered drops amid overall gains of about 50 cents ormore. Many of the larger increases were clustered in the snowyRockies/Pacific Northwest.
Major Growth Expected in U.S. LNG Market
Once upon a time, some regions of the United States were havingproblems meeting peak seasonal demand for natural gas. Inadequatepipeline and storage capacity, combined with production exceedingnew natural gas discoveries, sent suppliers looking foralternatives. Imported liquefied natural gas became a hotcommodity. Now the story has been rewound and is playing all overagain — with bigger players and a wider stage.
EIA: Supply ‘Uneasiness’ Props Up Gas Prices
Due to warm winter weather in certain regions last month,increased fuel switching and industrial slowdowns, the countryconsumed 140 Bcf less natural gas than was anticipated in January,which led to much lower spot gas prices towards the end of themonth, according to the Energy Information Administration’s (EIA)Short-term Energy Outlook for February.
Northeast Plunges; Rest of Market Slightly Firmer
Despite a trend toward milder weather in virtually all regions,the great majority of the swing market was seeing flat to slightlyhigher prices Wednesday. Considering the weather and little supportfrom a moderately higher Nymex screen, it must have been cash-outprices that kept late-December quotes from continuing to fall, onesource suggested.
Cheniere Stepping Up Gulf Activity
Cheniere Energy Inc. of Houston this week detailed a plan toaccelerate its exploration program in the shallow Gulf of Mexicoregions. “Cheniere has a window of opportunity that may last 12 -18 months, during which time the economics of exploration drillingin the Gulf of Mexico will be particularly attractive,” saidPresident Michael L. Harvey. “Currently, oil and gas prices arerelatively high, but the costs of drilling are low.”
AEC, Mounties Sting Canadian Eco-Terrorists
One of the most prolific natural gas regions of Canada hasbecome a combat zone for alleged industrial terrorists andaggressive federal police – and the country’s sixth-largestproducer is in the thick of the fray.
Prices Plummet; San Juan Down by A Quarter
Just as Wednesday was an unusual day in having East and Westmarkets rising in tandem, the two regions joined again Friday inmoving in the same direction-only this time the direction was down,way down. Decreases of less than a dime were few, and San JuanBasin plumbed depths not seen in a long time by falling a quarterto the $1.50 area. The Permian Basin and Waha plunged by 20 centsor more.