Relatively

Two potential beneficiaries of relatively cheap North American natural gas supplies, Japan and India, reportedly both have been urging the Obama administration to open liquefied natural gas (LNG) exports as soon as possible, according to the project manager for one of the export terminal proposals.

The 2012 Atlantic hurricane season, which has so far been relatively mild, may be about to intensify, according to Weather Services International (WSI), which increased its forecast to 14 named storms, including seven hurricanes, three of them major (Category 3 or higher).

The four top natural gas producing states in the Lower 48 states — Texas, Oklahoma, Louisiana and Wyoming — are collecting severance taxes on their dry gas of between 14.7 and 18.5 cents/Mcf based on recent gas prices, according to a review of regulations and taxes by Washington, DC-based Resources for the Future’s Center for Energy Economics and Policy (CEEP).

Cash natural gas prices eked out a modest gain Wednesday, but traders were not optimistic prices would hold current relatively lofty levels for long. A soft bidweek is expected. Midcontinent points were firm and at Northeast and Eastern locations double-digit increases in next-day power prices helped lift next day gas. At the close of futures trading August had fallen 11.7 cents to $3.070 and September was lower by 12.5 cents to $3.052. September crude oil added 47 cents to $88.97/bbl.

Despite a rig count that has declined significantly, production from the Haynesville Shale during June was climbing, which was reversing the impact of well shut-ins that began in February, an analysis by Bentek Energy LLC found.

Relatively warm weather during winter’s final months and a halting economic upturn continued to keep a lid on natural gas sales during the first quarter of 2012, according to NGI’s 1Q2012 Top North American Gas Marketers Ranking, which found a majority of companies reporting sales declining or flat compared with 1Q2011.

Relatively warm weather during winter’s final months and a halting economic upturn continued to keep a lid on natural gas sales during the first quarter of 2012.read more

Relatively warm weather during winter’s final months and a halting economic upturn continued to keep a lid on natural gas sales during the first quarter of 2012, according to NGI’s 1Q2012 Top North American Gas Marketers Ranking, which found a majority of companies reporting sales declining or flat compared with 1Q2011.

Last month was the warmest March on record in the contiguous United States, and relatively warm temperatures across the country made January through March 2012 the warmest first quarter since records were first kept in 1895, according to the National Oceanic and Atmospheric Administration’s National Climatic Data Center (NCDC).